smart spending

The surprising cost of working freelance

Insure your home office
Next
5 of 9
Back
Insure your home office

Besides buying your own health insurance, you also will need to insure your home office.

"People don't realize that you're not always covered by your homeowners policy," Kanarek says. If that's the case, you'll need to purchase a rider to your homeowners policy for your equipment.

Kanarek advises against shelling out money for a well-appointed home office when you're working freelance. If you don't meet with clients at your office, you don't need the trappings of a cushy office.

"Focus on equipment. Put your money there," she says. The necessities are a good printer, a fast computer and a reliable Internet connection.

Goodman says if you have clients or subcontractors visit you at home, you'll want to purchase business liability insurance, sometimes called trip-and-fall coverage.

She says business insurance can be costly. To find a reliable agent or carrier, get recommendations from other freelancers so you're not oversold on the coverage.


 

 

advertisement

Show Bankrate's community sharing policy
          Connect with us
MORTGAGE HOME EQUITY AUTO CDs CREDIT CARDS
Product Rate Change Last week
30 year fixed 4.06%  0.22 4.28%
15 year fixed 3.17%  0.07 3.24%
5/1 ARM 3.52%  0.11 3.41%
 
View Rates in your area Next
Product Rate Change Last week
30K FICO-based HELOC 4.36% --0.00 4.36%
50K FICO-based HELOC 4.06% --0.00 4.06%
100K FICO-based HELOC 3.91% --0.00 3.91%
 
View Rates in your area Next
Product Rate Change Last week
60 month used car loan 2.79%  0.10 2.69%
48 month used car loan 2.98%  0.06 2.92%
60 month new car loan 3.23%  0.04 3.19%
 
View Rates in your area Next
Product Rate Change Last week
1 Year CD 0.94%  0.01 0.93%
2 Year CD 1.13% --0.00 1.13%
5 Year CD 1.76%  0.00 1.76%
 
View Rates in your area Next
Product Rate Change Last week
Balance Transfer Cards 15.77%  0.06 15.71%
Cash Back Cards 16.44%  0.03 16.41%
Low Interest Cards 10.96%  0.10 10.86%
 
Next
advertisement
FRUGAL NEWSLETTER

Discover new ways to cut costs and save more every day. Reduce your spending, not life’s pleasures. Delivered weekly.

advertisement
Partner Center
advertisement

Connect with us