Running a business without insurance is like driving a car without a gas. Your car may be running a few kilometers but not for long as you need to refill it in a gasoline station, so as in a business once you start up one you need to provide yourself, your staff and the company protection and this is where insurance comes in.
As a self employed individual you will be required to have an insurance, whatever kind of business you are in, it may not be mandatory for you to have all the insurance but you are required to choose the one that is applicable for your type of business. You may what to consider these questions for you to know what kind of insurance will you need.
What specific insurance would you like to be covered or be protected from?
Will it be from fire, accidents, loss of income, acts of God or theft?
Who will be covered?
What package or policy will you take?
What Insurance company do you plan to get the policies?
How much will the coverage be?
Types of Self Employed Insurances
• Liability Insurance for Employer
• Health Insurance
• Vehicle Insurance
• Accident Insurance
• Content Insurance
• Life Insurance
• Group Life Insurance
• Income Protection
Providing insurance for your employee is considered as a benefit, it will help you maintain your old employees and at the same time it will help you attract new ones. It will be your discretion if these benefits will be provided as soon as you hire them or on their 6TH month employment. You may want to consider their age bracket preferably 18 to 65 years old.
I need an insurance as I personally feel i need it for safety reasons. I can’t let it go as there will be ups and downs in life and if i have no insurance then that might put me in real problems. Can you suggest me one, i am from Texas.