Recommended and Essential Insurance for Freelancers

Currently, in Spain, there are more than 3 million self-employed according to data published by the Ministry of Employment and Social Security last December.

This confirms a radical change in the labour market in Spain that entails a series of peculiarities that must be taken into account, and that is that being self-employed entails a series of risks that an employed person will not experience.

The self-employed face the lack of protection against accidents, diseases and risks inherent in the exercise of their activity. The famous saying that being autonomous you don’t get sick is real.

In this article, we are going to talk about the essential insurances for freelancers that we recommend to hire to guarantee your peace of mind and that you only worry about carrying out your activity …

Is professional insurance for freelancers necessary?

They are not compulsory to hire but they are highly recommended to be sure that we will be covered in case something happens. It is estimated that more and more percentages of self-employed are hiring them, not only because they offer greater protection in their day-to-day lives, but because they can be tax-deductible, which means that they come out cheaper than is initially thought.

To give you the idea, through self-employed insurance you can ensure your activity, remembering that a self-employed person has greater economic instability than a salaried employee. In the market, we can find a wide variety of insurance to choose from, but as a minimum, we recommend you take out insurance for work disability, life and other accidents.

They are the insurances that every self-employed person should have contracted to be able to carry out their daily activity in a safer way. And it is that as you well know, if you do not work, the income will not come and consequently you will not be able to make ends meet. Hence, we recommend these insurances to cover possible accidents and thus ensure an income in case of not being able to develop your job.

Work disability insurance for freelancers

It is an insurance that we recommend to all freelancers to guarantee an income in case they cannot work due to a work disability.

We recommend you to purchase this insurance for self-employed workers. This Insurance is very complete and will allow you to carry out your activity with the assurance that in case something happens to you, the income will continue to arrive at you to overcome that period of inactivity.

With this insurance, you will be able to obtain the protection you need in case you get sick or suffer an accident that prevents you from carrying out your work normally. Thanks to this insurance you will be able to enjoy greater economic protection, which is quite similar to the protection that employees have.

The insurance is accompanied by main coverages and can be completed with additional coverages if they interest you. The main coverages are for sickness, birth and travel assistance. But this insurance can be made much more complete thanks to coverage such as accident benefit, hospitalization due to illness and/or accident.

The advantage is that Insurance can be customized to the needs of each worker, that is, you will only pay for the protection you need according to your profession. All this means that you pay only for what you need and not for things that you know in advance that you will never use.

Life insurance for the self-employed

If you have children and you are concerned about their well-being and their future, one of the insurances that you should not miss is Life Insurance for the self-employed. The objective of this insurance is to have the peace of mind that in case you are not there, your family will have financial support with which to continue living. It is the best option to guarantee the tranquillity of the family in the event of any unforeseen event.

By contracting this Life Insurance for self-employed persons, you will be able to enjoy the following coverages:

  • Death coverage
  • Permanent disability due to accident
  • Capital advance in case of serious illness
  • Online will
  • Digital erase
  • Second medical opinion.

These coverages are really very important and all freelancers appreciate having them.

The Insurance has the renewable modality through which insurance is contracted for years and thus contract the capital that you want the indemnity insurance to have. The capital can be fixed, variable or increasing according to the CPI.

The amount is up to you, so the insurance is characterized by being totally personalized. If that option does not interest you, you can opt for the temporary term. This insurance can be contracted for a minimum of two years and the maximum until the insured reaches 70 years of age.

Accident insurance for freelancers

It is another of the essential insurances for freelancers. It can be easily hired here and has a large number of coverage that will allow us to be more secure.

One of the most valued is the main coverage for death by accident. This coverage will compensate the descendants as a result of the direct death of the insured or consequences during the first year. It also allows you to request an advance if necessary after the accident occurs.

This insurance includes other main coverages such as coverage for permanent disability due to accident and other additional supplements and extensions that can be customized according to the needs of each self-employed person.

Although these insurances are not mandatory, from a liability point of view they should be for any professional. You cannot work with the fear of having an accident and not being able to earn an income that will allow us to make ends meet.

Whether you have a family or do not yet have one, it is important to have good policies that guarantee the future in case of any work problem. In the market, there is more insurance to choose from, but at least you should hire those three.

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