Author: Nancy Germond 

Several recent articles discuss a growing trend – a number of Americans – by some estimates, up to 50 percent of today's workers work on the side or do side gigs. A side gig is work people start in addition to their main jobs.

A businessowners policy can provide coverage for many of the risks you face, many you may not have considered.

Exposures

Here are some of the typical exposures faced by side-gig workers.

• Customers or clients in the home or rental space
• Business personal property coverage, such as computers or tools
• Copyright infringement exposures that can arise from your clients' writing or blog or social media posts
• Slander, libel and disparagement exposures arising from your clients' businesses
• Workers compensation exposures for your client – I've heard too many sole practitioners, especially artisan contractors, tell me their agents told them they couldn't get workers compensation coverage. If you have an available market for workers compensation coverage, talk to your client about the importance of paying medical bills and lost wages, especially if they drive in their work. An auto-related injury can quickly put a side-gig worker out of money.
• Workers compensation exposures for your clients' “employees." Your customers may think “I only subcontract work; they're not an employee." Their state's industrial commission ultimately makes that decision if a subcontractor sustains an injury.
• Employment exposures, such as wage and hour or discrimination

Conclusion

Today's side gig workers are in high demand because many business owners increasingly turn to freelance sites like Fivver or Upwork to fulfill their graphic arts, copywriting, bookkeeping, or other demands.

Side gigs can quickly morph into full-time business with an office and employees, which provides you with an opportunity to write all their business coverages as they grow.

Because so many Millennials and Gen X and Y workers undertake side gigs, use your social media to encourage inquiries. The BOP can cover a majority of these workers but be sure to know your markets and their forms to know which BOP coverage is the better form for the type of side gig.

Social Media Post Ideas

• Are you a gig worker or have a side hustle for creative or financial reasons? You  may need insurance. Reach out to us for more information on providing insurance for your side hustle. In today's world, protecting your assets provides peace of mind. It's easier, and more important, than you may think.

• Do you have a side hustle or gig? Many Americans now do side work in addition to their job. Whether you're a freelance writer, a graphic artist, a handy person, deliver food or drive for a transportation network such as Lyft or Uber, you probably need insurance. Call us for more information on your side hustle.
  
   
• Just because you're only working part-time doesn't mean you don't face risks when you're producing work or products for others. Whether you're a side job professional or a perform additional side hustles, call us today to review your risks. We have insurance plans at reasonable prices that can help protect you against typical side gig risks.
  
   
• Many side gigs develop into full-time work. If you're concerned about your risks, call us today for a no-obligation consultation about how we can help protect you as your side job expands into full-time employment. 
  

_______________________________________________________________________________________________

Copyright © 2023, Big “I" Virtual University. All rights reserved. No part of this material may be used or reproduced in any manner without the prior written permission from Big “I" Virtual University. For further information, contact jamie.behymer@iiaba.net.