1. Health Insurance: Your First Line of Defense

Without an employer plan, you’ll need to find your own coverage—and it’s not as hard as it sounds. The ACA marketplace offers subsidized plans based on your income, and many freelancers qualify for tax credits that lower monthly premiums. If you need something more flexible or temporary, look into private plans or health-sharing alternatives. Don’t skip this one—one ER visit could wreck your finances.

2. Disability Insurance: Protecting Your Paychecks

If you get sick or injured and can’t work, who’s paying the bills? That’s where disability insurance steps in. It replaces a portion of your income—usually 60–70%—so you can still cover expenses during downtime. Look for individual long-term disability policies, especially if you’re in a physically demanding freelance field like photography, event work, or trades.

3. Liability Insurance: In Case Someone Comes After You

Did a client slip on your property? Did your freelance work cause damage or financial loss? General liability insurance covers legal fees, damages, and settlements. If you do consulting, marketing, design, or any client-facing work, look into professional liability (also called errors and omissions insurance). It’s affordable and could save you from a lawsuit that wipes out your business.

4. Equipment Insurance: For All Your Gear That’s Not Cheap

Your laptop, camera, sound gear, or design tablet isn’t covered by homeowners insurance if it’s used for business. You’ll need a separate business property policy to cover it against theft, damage, or loss. Many providers let you list and insure specific items, so you're not overpaying. Bonus: You can often write it off as a business expense.

5. Retirement and Health Savings: Start Your Own Safety Net

Freelancers don’t get 401(k) matches or company HSAs—but you can set up your own. Open a SEP IRA or Solo 401(k) for retirement savings with higher contribution limits than standard IRAs. For health, use an HSA if you have a high-deductible plan—it lets you save tax-free for medical expenses. It’s all on you now, but the upside is full control and flexibility.

Conclusion: Freelancers Need a DIY Insurance Toolkit

When you're self-employed, you have to build your own safety net—and that means thinking like a boss, not just a worker. Cover your health, protect your income, insure your gear, and plan for the long haul. The right insurance makes freelancing sustainable, not just survivable.