Guide to Insurance for the Self-Employed

Surf the Web for instant free quotes

Search engines scan thousands of companies for preliminary quotes. These are consumer referral companies, not insurance companies, so you'll get competing quotes.

I recommend: Visit HealthInsurance.org., 2insure4less.com, or NetQuote, an easy-to-navigate site. eHealthInsurance.com gives quotes with only your zip code, gender and age. A bonus: no calls from agents.

Join an association for access to insurance benefits

If you belong to a club, ask if it has a group health insurance plan. If you're a loner, join a professional organization or small business association.

I recommend: Join the National Association for the Self-Employed and get group rates through its insurer of choice, The Mega Life and Insurance Co. You can also join the National Federation of Independent (NFIB) as a self-employed business owner and tap the insurance benefits they offer to members. NFIB membership is a smart choice that returns your membership costs many-fold.

Get up-close and personal

Prefer high touch to high tech? An exclusive local agent is well-trained but only sells his company's plans. A non-exclusive local agent can customize a plan for special circumstances.

I recommend: Find qualified agents at the National Association of Health Underwriters. Research the company's financial health and complaint record at state insurance department Web sites.

Patience is not a virtue

If your business is your sole source of income, get disability insurance with as short a waiting period as possible. Policies typically require 30 to 180 days before they start paying – but try negotiating.

I recommend: Select a policy from 4-Disability-Insurance-Quotes, Insurance.com or LowQuotes.com.

Open a health savings account

Get tax-free savings while you stash money for medical emergencies. You're eligible if you have a high deductible health plan.

I recommend: Discover which plans are eligible at Self-Employed-Insurance.com.

Duck when an angry client sues

Errors and omissions insurance protects you from catastrophic lawsuits charging you with failure to perform professional duties.

I recommend: Compare quotes at Insurance Finder. Check out Insight Insurance Services and Herbert H. Landy Insurance Co. which specialize in certain professions. In the information technology business? See Techinsurance.