Freelancer Insurance in Kansas

Freelancer insurance in Kansas (KS) – is a group of self-employed insurance covering every single thing, from health insurance to insurance for any type of work mishap or omission. We will discuss all the types of insurance a freelancer might need.

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First of all, let’s make it crystal clear. In Kansas, if you want to be a freelancer, you are falling into the categorization of self-employed people.

In practice, this means that you are the executive and the employee. You have to take care of your rights, including providing health insurance.

Types of insurance for freelancers in Kansas

There are different types of freelancer insurance in Kansas. If you are thinking to become a free worker and enjoy the benefits of “being your own boss”, you could do it in the safest way possible.

You all know the good old saying “If you don’t make mistakes, you don’t make anything”. The result of your work in some cases can be bodily injury, property damage, or money loss. Now, some of these errors can cost you quite a bit of money, unless you protect yourself in time.

As a self-employed person, the first thing you need is health insurance. Besides health insurance, you might need other insurance types. Depends on the sort of your business.

So, let’s go one step at a time and see how much is going to cost you to be a freelancer in Kansas, and how to protect yourself the best.

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Health insurance for freelancers in Kansas

If you are self-employed, you should choose the best Health insurance plan for you. As a freelancer, you qualify for Individual Health Insurance Marketplace. Here you can collate offers from individual private health insurance providers.

When you fill out the application, you will see if you qualify for premium tax credits, etc. This all depends on your salary, household size-dependent family members…

You can choose between 4 “metal categories” for your health insurance – Bronze, Silver, Gold, and Platinum. The dissimilarity is not in the quality of service, but in the price that you have to pay. Your choice mainly depends on your needs; how often you need medical assistance, and what kind of treatments you need.

The monthly premium can also be decreased if you qualify for savings programs. This all depends on your income and household size and will be explained to you when filling the Marketplace insurance form.

You can also check if you qualify for Medicaid – government health insurance given in case of low income. When it comes to eligibility for this program, your income must be below a certain level in KS. Also, your qualification depends on the number of people in your household.

What is the cost of health insurance for freelancers?

Now we come to the inquiry that everyone who is thinking about freelancing wants to know. How much will cost you to be a freelancer? As formerly mentioned, your premium depends on several factors – your income, household size, do you qualify for any savings programs.

On average, freelancers in Kansas are paying $450* per month, which is $5400* annually depends on the insurance company you choose. If you qualify for any savings program, your premium can be as low as $200 monthly. To verify if you qualify for this kind of program in Kansas.

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*price may vary depending on the insurance company

Other types of freelancers’ insurance in Kansas

Besides health insurance, there is a so-called “business insurance” category. To protect your business and have coverage for any injury or damage that can be consequence out-turn of your work, you need to have business insurance.

Depending on the type category of freelance job you are performing, you will need a different type of insurance. Here we will discuss some of the types in Kansas, so you can decide to conclude what suits you the best.

General liability insurance for freelancers

General liability insurance covers monetary losses that are the result of bodily injuries, property damage, medical expenses, libel, slander, defending a lawsuit, etc. It is the broadest insurance for freelancers and it’s fitting for any type of business.

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This insurance is considered one of the best types because it covers a lot of unexpected things that can happen during your work.

The cost of general liability insurance

The cost of general liability insurance in Kansas depends on a few things – the coverage you go for, the sort of business, the insuring company.

The standard price of general liability insurance in KS is approximately $40* within a month, which is $480 per year.

A lot depends on the sort of business you are conducting. If you are involved in a riskier business, such as landscaping, you will have an excessive premium over someone who is working as a copywriter.

Also, the range limit determines your premium. If you are aiming for wider coverage, the premium will obviously be higher. Some of the typical coverage limits are $1 million and $2 million.

Here you can find more facts about general liability insurance in Kansas.

Professional liability insurance for freelancers

Professional liability insurance covers financial losses that are the outcome of malpractice, errors, and negligence. It is suitable for all the businesses that are giving services to their clients.

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This insurance is also addressed as Errors & Omissions insurance.

For some jobs, such as lawyers and medical workers, this form of insurance is mandatory. Others can choose if they want to ensure their business.

The median cost of professional liability insurance is $59* per month, which is $708 per year.

More about E&O insurance types in Kansas you can find here.

Home-based business insurance in Kansas

One more type of business insurance that freelancers can consider is home-based business insurance. Since the main idea of being a freelancer is being able to work remotely, many freelancers are starting their offices in their homes.

The price of a home-based insurance policy in Kansas depends on several factors – credit history, type of business, etc. Some average cost in Kansas is $250* to $500* per year.

Income protection insurance for freelancers in KS

Income protection insurance for freelancers works the same way as for any other job. If you may not work due to illness or injury, you will get a regular non-taxed salary. This insurance is in most cases limited for a certain period of time. In Kansas, it is usually referred to as disability income insurance.

There are two sorts: short-term disability insurance and long-term disability insurance.

Short-term insurance covers a period from 9 to 52 weeks with a hold up of up to 14 days.

When it comes to long-term disability insurance, you are protected from 30 days to few years, depending on the insurance agency.

Usually, the price in Kansas is 1-3%* of your annual income.

Ways to purchase the insurance

After you checked all your options, you have to decide which type of insurance you need. When all the decisions are made, what is left is to purchase an insurance policy.

The first way, to get the policy is to go to an insurance company and get it. Anyhow, this option is time-consuming and pricey.

Another option is online buying. You can find the company in any part of Kansas, and acquire the insurance without your attendance. You will have to give some of your personal details, sign an online agreement, and make the purchase.

This way you will save time, and mainly, you will save money. And the greatest thing – online insurance usually comes with additional benefits!

An additional way is to join any Freelancer organization in Kansas. The organization itself is not an insurance company, but it can connect you to an insurance company. Possibly, this way can be lower priced than going to the office of the insurer.

Conclusion about insurance for freelancers in Kansas

You figured to take a step forward, depart from your job and try to build something for yourself. It’s great! But before doing so, be assured to understand all the duties that you will have as “the boss”.

Put on the paper all the fees of being a freelancer in Kansas. Add even the costs you think you will never have. Now respond to yourself – are you equipped to be a freelancer? If yes, here is a link that can help you start a freelance business in Kansas, and make the first steps.