Independent contractors and small business owners typically do not enjoy the benefits afforded to a traditional full-time employee, including insurance benefits. Therefore, it’s often necessary for self-employed professionals to find and purchase their own coverage policies. These types of plans include liability, property, life, disability, health and retirement insurance. If you are an independent business person, finding contractors insurance in Honesdale PA should be a top priority.
Health and Medical Coverage
If you are an independent contractor, having health insurance is essential. Medical and health coverage can be purchased from firms that sell health insurance to the self-employed. Generally, these policies will be more expensive when compared to a group plan usually provided by large companies for their workers. A contractor can also purchase plans that cover vision and dental needs. Also, supplemental insurance is offered for short-term medical issues including surgery and hospitalization.
Long and Short Term Disability
Contractors should also consider policies that provide compensation for disability or serious illness that makes them unable to work. Long-term or temporary supplemental plans can be purchased at a lower cost than a standard health insurance policy. During periods of time when the contractor is rendered unproductive, for example if recovering from injuries or undergoing treatments, this type of insurance provides a cash benefit that can help defray medical costs and other related expenses. Many plans also will pay an ongoing salary based on recent and expected revenue.
Liability Insurance Policy
A liability plan is the perfect way for an independent contractor to protect their property and business from a financial loss resulting from damage, theft or injury. This can be a critical issue because as an independent contractor you want to ensure that accidents occurring on your premises are covered. Additionally, business liability also protects the contractor against lawsuits initiated by their clients or business rivals. Because there are a range of coverage amounts available and possible limitations, always consult with your insurance professional for detailed information.
Unemployment Insurance
Many self-employed contractors are not aware that they may be eligible for unemployment insurance and benefits. Typically, the best approach is purchasing a private policy from an insurance carrier. If you are an independent contractor consult with an insurance agent to determine the type of plans available and at what rates. When seeking contractors insurance in Honesdale PA, you’ll find a wide range of options for coverage including critical illness, personal liability, health care and property protection.
Find out why so many customers count on the Olsommer-Clarke Insurance Group for insurance coverage, whether it’s home, auto, life or commercial. As one of the most trusted names in the insurance field, we are committed to providing superior service at competitive rates.
