Navigating Insurance for the Self-Employed in Texas

Many people in today’s world work for themselves and identify themselves as self-employed. That might mean they have their own licensed business, do freelance work, or are independent contractors.

This is especially true in states like Texas which are home to a diverse range of self-employment opportunities. Whether working in big cities such as Dallas, smaller urban cities such as Tyler, or working from home in one of East Texas’ beautiful rural areas, Texas has much to offer the self-employed.

But what about insurance?

Having insurance is important whether you work for yourself or not—so how does navigating insurance for the self-employed in Texas work?

A top concern many people who are self-employed have with getting an insurance policy is whether it’s low cost and what is covered. And it is true that without an employer to share costs, insurance for self-employed people in Texas can be expensive and challenging to navigate—but it doesn’t have to be.

When deciding on an insurance agency to help you navigate coverage as someone who is self-employed, looking to smaller, trusted, local insurance agencies like Bosworth and Associates in Tyler, Texas, can be helpful for numerous reasons. The biggest is that smaller insurance agencies come to know their customers and are able to help bundle and tailor their policies to their unique needs.

When it comes down to deciding what types of policies you need, here are a few tips for navigating insurance as someone who is self-employed.

First, you’ll need to determine what types of insurance are essential to cover any emergencies. Each person’s life is unique and will require different types of insurance coverage depending on their needs.

Health Insurance

When it comes to health insurance, do you need coverage for only yourself, or do you need medical coverage for your whole family?

Health insurance premiums depend on numerous things, but one major consideration is whether you or a family member have preexisting conditions. Preexisting conditions might impact your medical coverage, so it’s good to be prepared. You should also consider whether you’re in need of dental and optical insurance.

Vehicle Insurance

Do you own one or more vehicles that will need coverage under a car insurance plan? What types of liability coverage you need for your car or truck insurance can depend on a lot of factors including details like if you have a teenage driver, what type of vehicle you own, how old your car or truck is, and whether you want full coverage or not.

Do You Rent Your Home or Own It?

If you’re a renter, you’ll want to talk to your local insurance agent about a renter’s insurance policy that would cover your valuables in the case of an emergency.

If you own your home, you’ll want to discuss with your insurance provider what homeowner’s insurance policy might be best for you. Homeowner’s insurance policies have a wide range of provisions, deductibles, and premium rate options so that you’ll be able to be sure to find one that fits your household’s specific needs.

Do You Have a Life Insurance Policy?

A life insurance policy is a good idea whether you’re self-employed or not. This is especially true if you have dependents who rely on you financially. If your income is the only thing sustaining your family financially, a life insurance policy could make all the difference in the case of the unexpected.

Before taking out a life insurance policy, it’s important to have an idea of what your family’s financial needs are.

What are your home’s weekly living expenses? Do you have a mortgage or monthly rent to pay? Do you have a credit card or other monthly debt? Once you’ve identified your household’s needs, you can make a decision as to what type of life insurance is best for you. The two main types of life insurance are “term” or “permanent” life insurance policies. Your decision depends on numerous factors such as what you can afford, whether you’re interested in your policy accruing money over time, and how long you want the coverage to last.

Working with a local insurer such as Bosworth and Associates in Tyler, Texas means you’re working with experienced insurers who provide you with policy options that work best for you and your unique needs.

Providers like Bosworth Insurance offer policies that are customized, meaning that if you’re self-employed you can tailor your insurance to ensure you and your loved ones are provided for in the event of the unexpected.

Being self-employed shouldn’t mean you compromise on your insurance coverage. There are affordable and comprehensive insurance options out there for you. Contact your local East Texas insurance provider today and get covered.