The Right Insurance in the Gig Economy

You Need to Know How to Insure Your Small Business in the New Gig Economy.

The Gig:  it’s temporary.  It’s flexible.  It’s freelance.  The types of services gig workers might provide includes ride sharing, home repair, food delivery, marketing, accounting, consulting, website setup and more.  The professional skills and experience covered by these workers are vast, and the popularity of this type of employment is gaining popularity on both sides. 

For small business owners, the gig economy workers directly impact how much insurance coverage the small business owners need.  Small business owners are struggling to figure out whether gig workers are considered independent contractors or employees?  The IRS has both a full page and a form you can submit to get an official answer to that question.

How a Gig Worker is classified affects not just income taxes but benefits and compensation insurance.  Recently the National Council on Compensation Insurance (NCCI) studied the gig economy to find the extent of impact on workers’ compensation insurance.  The NCCI discovered that the increase of Gig workers were in secondary income sources, not primary jobs.  Different states have different test to measure gig employment classification, so it becomes even more important to check your own state labor guidelines. 

Photo by Wallace Chuck from Pexels

How to Insure Gig Workers:  If you are hiring a contract worker, you might look for an insurance provider who offers general liability insurance.  This can protect your small business if the contractor delivers lower quality work, is late or doesn’t finish contract assignment, costing you money.  If you are the independent contractor, it is a good idea for you to carry some form of liability or small business insurance.

Pro-Insurance-Finder matches businesses and consumers with an experienced friendly agent who can answer their insurance needs.  Come see us today at and find out how to protect your business and your gig workers.