Being a virtual assistant is a freeing feeling. You can set your own hours, you can work as many hours as needed, take on as many clients to meet your goals and needs, and the best thing is you are your own boss. But here is a question that you might want to consider. Do you need any kind of virtual assistant insurance to protect yourself and your business?
Nobody can predict what might happen to them in business or in life as a matter of fact but if you are considering virtual assistant insurance of any kind then you might want to check into some of these insurance plans.
As an independent contractor, (which is what you are) if you get sick you will be responsible for being covered. You are not working for an employer so you will need to have a health insurance plan. What you will need is an individual insurance plan. I have checked out a lot of individual insurance plans and have found good ones and bad ones. For me I chose a plan that had great hospital coverage, and I could visit all of my current doctors. You have to decide what is important to you when choosing a plan. There are many individual health insurance plans for you to choose from so make sure that you choose a plan that meets your budget and needs. Make sure that you are covered before a client hires you..
Business Owner’s Policy Insurance
As an entrepreneur working from home, you might qualify for a special policy called Business Owner’s Policy or BOP for short. What this insurance does is gives you protection against some of the most common claims you might come across. For example; coverage for third-party injuries that might happen on your premises, and most importantly personal protection against loss or damage to your business equipment and office. If you don’t have business equipment you are out of business! If you qualify this insurance is usually offered at a discount rate and bundles General Liability Insurance with Property damage.
Business Interruption Insurance
This type of insurance is for when your office is out of action. It could be from a flood, fire, or any other act of nature you will be covered for costs of setting up your office elsewhere and for any lost revenue at that time.
These are some of the virtual assistant insurance plans that you might want to consider while running your virtual business. You don’t have to have any of these plans but it is a good idea to consider one, two, or all three of them in the future. I have health insurance and will always have health insurance because you never know what might happen to you in the future and I want to be covered.
Do you have any of the above insurance plans right now? Why or why not do you have it?