[skysnap]

Freelancers don't have the regular income. This puts them in very much uncomfortable position. Their irregular paycheck needs to be put in such way that they are making the ends meet. Also they are saving some percentage of their money for retirement. Here are some of the things to watch out for the investment and insurance for freelancers.

Health Insurance

Freelancers are not employed by any employer which pays for their healthcare. And this makes it harder for any freelancer for savings. Because in this case they have to pay for their own healthcare. And based on the available options out there. There are not many good solo healthcare options. Though most of the healthcare options for small business owners apply here. And this makes it kind of hard for choosing such plans. I have noticed that health insurance plans may be high premium ones. But if you can afford the yearly payment, then definitely consider getting one for yourself.

Auto Insurance

Only thing that needs to have some insurance is your automobile. The reason being auto insurance can protect from some of the minor and major issues. Also it helps you recover the price for new automobile after some time. Though if not damaged such money is wasted. So you have to choose the insurance wisely in such case. Also do make sure that you are spending wisely in such cases. You can skip the mobile insurance some of the time, but automobile insurance is necessary. You need to make sure you are atleast paying the yearly premium and keep the automobile secured.

Disability Insurance

Let's not ignore some of the profession where you're likely to have disability. Some profession in IT can lead to carpel tunnel, and this may affect the further work schedule. So one has to make sure that they are insured on those terms. I have found that most of the disability insurance come with the health insurance. But some countries and insurance companies have them listed differently. This is because some disabilities may keep you alive but not in work situation. So this is where the disability insurance comes into the play.

Home Insurance

Unless you have an apartment, which usually is not covered in the home insurance. People need to understand that home insurance is something we all have to keep in mind. Some of the time such insurance protects you from damage such in hurricane or tsunami. Some of the insurance also pay if there are issues like fire and other stuff. Though vandalism is not covered. Having such insurance is definitely something we all need to keep in mind.

Property Insurance

Whether you are a freelancer or business person. You can apply for the property insurance. As such insurance helps you protect the equipment that are helping you do the business. Most of such insurance are good for the people who are into the business which involves use of machines which are costly. So this type of insurance is definitely a good option for those who want to protect the business. I'd say every freelancer needs to have a tab on such insurance if they are earning some good money.

These are some of the type of insurance that every freelancer needs to understand. As a freelancer one must learn to understand that they are spending the funds on insurance in right way and in right direction.

[TeacherAngel]

You're right. That's why before I even work as a teacher, I already have a health insurance and I pay quarterly contribution to SSS or Social Security System for pension when I retire.

[skysnap]

True. We have to get the health insurance setup before reaching 60. This way the premium can be lowered for sure.

[Angie10]

Ou of all the insurance policies, the one I'd desperately like to have is the health one. All government employees here get one where the government contributes 50% towards it, but sadly, because I'm only on a part-time contract, I'm not privy to it

We have state hospitals and clinics that provide a free service, but the queues are ridiculous. So we opt not to go to those and instead go to private practices. For now, whenever we need to go to the doctor's or dentist's, we pay out of our own pocket, which is very expensive. While getting medical insurance would be beneficial, it would also be very expensive for us because neither one of us works full time. Quite the dilemma

[germainebull]

A lot of freelancers do not own cars; they either use hired cars for transport or public service vehicle options. Auto insurance may thereby not be a necessity for many of us.