Freelancer Insurance in Pennsylvania

Freelancer insurance in Pennsylvania (PA) – is a group of self-employed insurance covering all, from health insurance to insurance for any sort of work accident or omission. We will talk about all the sorts of insurance a freelancer might need.

First of all, let’s make it crystal clear. In Pennsylvania, 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.

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Freelancer Insurance in Pennsylvania

Types of insurance for freelancers in Pennsylvania

There are different types of freelancer insurance in Pennsylvania. If you are thinking to become an individual worker and enjoy the benefits of “being your own boss”, you would need to 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 final result of your work in some cases can be bodily injury, property damage, or money loss. Now, some of these omissions can cost you quite a bit of money, if not you protect yourself in time.

As a self-employed person, the initial 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 slowly and see how much is going to cost you to be a freelancer in Pennsylvania, and how to protect yourself the best.

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Health insurance for freelancers in Pennsylvania

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

When you fill out the request, you will see if you are entitled to premium tax credits, etc. This all depends on your income, household size-dependent family members…

You can choose between 4 “metal categories” for your health insurance – Bronze, Silver, Gold, and Platinum. The distinction 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 sort of treatments you need.

The monthly premium can also be lowered 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 request.

You can also confirm 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 PA. 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 question that everyone who is thinking about freelancing wants to know. How much will cost you to be a freelancer? As earlier mentioned, your premium depends on multiple factors – your income, household size, do you qualify for any savings programs.

On average, freelancers in Pennsylvania 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 in a month. To confirm if you qualify for this kind of program in Pennsylvania.

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*price may vary depending on the insurance company

Other types of freelancers’ insurance in Pennsylvania

In addition to health insurance, there is a so-called “business insurance” type. To protect your business and have coverage for any injury or destruction that can be a consequence result of your work, you need to have business insurance.

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

General liability insurance for freelancers

General liability insurance covers financial losses that are the result of bodily injuries, property damage, medical expenses, libel, slander, defending a lawsuit, etc. It is the most extensive insurance for freelancers and it’s acceptable for any sort of business.

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This insurance is considered one of the best sorts because it covers a lot of unanticipated things that will potentially happen during your work.

The cost of general liability insurance

The fee of general liability insurance in Pennsylvania depends on several things – the coverage you go for, the type of business, the insuring company.

The average price of general liability insurance in PA is approximately $40* per month, which is $480 per year.

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

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

Here you can find more information about general liability insurance in Pennsylvania.

Professional liability insurance for freelancers

Professional liability insurance covers money losses that are the out-turn of malpractice, errors, and negligence. It is suitable for all the businesses that are providing services to their clients.

This insurance is also known as Errors & Omissions insurance.

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

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

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

Home-based business insurance in Pennsylvania

One more type of business insurance that freelancers can take into consideration is home-based business insurance. Since the main goal of being a freelancer is being capable to work remotely, many freelancers are setting up their offices in their homes.

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

Income protection insurance for freelancers in PA

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 Pennsylvania, it is usually referred to as disability income insurance.

There are two kinds: 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 Pennsylvania is 1-3%* of your annual income.

Ways to purchase the insurance

After you checked all your options, you should decide which category 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 more expensive.

The second option is online purchase. You can find the company in any part of Pennsylvania, and buy the insurance without your attendance. You will have to come up with 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 often comes with additional benefits!

An additional way is to join any Freelancer organization in Pennsylvania. The organization itself is not an insurance seller, but it can link you to an insurance company. Possibly, this way can be cheaper than going to the office of the insurer.

Conclusion about insurance for freelancers in Pennsylvania

You chose to take a step forward, leave your job and try to establish something for yourself. It’s great! But before doing so, make certain to understand all the responsibilities that you will have as “the boss”.

Write down all the fees of being a freelancer in Pennsylvania. Add even the costs you think you will never have. Now reply to yourself – are you equipped to be a freelancer? If yes, here is a link that can tutor you to start a freelance business in Pennsylvania, and make the first steps.

*price may vary depending on the insurance company

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