What Kind of Insurance Do I Need as a Gig Worker?

Gig work might be your full-time job, or it might be a side project to supplement your income. Whether you shop and deliver groceries for Instacart, drive people where they need to go for Lyft or assemble furniture for Taskrabbit, you need to make sure you’re protected from the unexpected. 

Here are the key types of insurance you may need, depending on the type of gig work you do and whether it’s your only job. If you have another job, that employer may offer some forms of insurance.  

Health Insurance

Everyone, including gig workers, should have health insurance to cover general health needs and mishaps that could happen because of your gig job. You could be involved in a car accident, slip and fall making a Shipt delivery or hurt your back carrying heavy boxes during a move.  

You can buy a plan through the Affordable Care Act, buy short-term health insurance for up to three years or get coverage through Medicare or Medicaid if you qualify.  

Costs of health insurance vary based on your location, age and the level of coverage you want.   

Auto Insurance

You may think you’re fully covered under an Uber Eats insurance policy or a similar policy from the company you’re working for, but that’s not usually the case. You’ll need to dig into the fine print of the agreement to see what rideshare companies like Uber and Lyft or delivery companies like Door Dash offer for car insurance.  

Your own auto insurance company usually only covers you when you’re driving your vehicle for personal use. Since a gig job means you’re driving for business or commercial use, you could be left paying the costs of an accident you get in while working. 

Some insurance companies offer rideshare insurance to cover the times you’re using your car for work. If you can’t find a personal policy that works for you, you might want to buy a commercial auto insurance policy. 

Business Liability Insurance

Liability insurance for gig workers covers you if you hurt someone or damage someone’s property, and it can help with the costs of a lawsuit. You should have liability insurance for risks like damaging an expensive piece of artwork during a move or injuring someone in a car accident.  

You may also want to get an umbrella policy, which gives you coverage that extends over the limits of liability insurance.  

Disability Insurance

If you couldn’t work, how would you cover your expenses? If you don’t have a lot of savings, you probably need disability insurance so you have some money coming in to replace your income. Options include short-term and long-term disability, and prices range based on your age, risk and the amount of coverage you need. 

Life Insurance

You can benefit from having life insurance at any age, but if you have people who rely on your income, life insurance is especially important to make sure they have the money they need if you’re not there to provide it. Even if you don’t need coverage for your income, you may want a small life insurance policy to cover funeral expenses that provides relief from the hardship to your loved ones. 

Talk to a Pro About Your Insurance Needs

If you’re a gig worker, there are a lot of different insurance needs to think about. Whether it’s independent contractor courier insurance, umbrella coverage or an additional auto policy, it’s a lot to sort through.  

Reach out to Farm Bureau to connect with a professional. Our team knows the ins and outs of insurance coverage and can help you figure out what policies you need to protect yourself and your business.