D.C. Self Employed Insurance
How to find a local adviser in minutes
Written by
Candace Jenkins is a licensed insurance advisor with over a decade of experience. She is also a writer and loves to write on all things insurance. Candace writes for TrustedChoice.com on a continuous basis and is here with the facts about all your insurance inquiries.
Reviewed by
Jeff Green has held a variety of sales and management roles at life insurance companies, Wall street firms, and distribution organizations over his 40-year career. He was previously Finra 7,24,66 registered and held life insurance licenses in multiple states. He is a graduate of Stony Brook University.
In the District of Columbia, there are 76,083 small businesses in operation. When you run a company, your cash flow can be tight. Self-employed insurance doesn't have to cost you everything.
An independent insurance agent can help with policy and premium options that won't break the bank. They do the comparison shopping for you at no additional cost so that you can relax. Connect with a local expert for custom quotes today.
What Is Self-Employed Insurance?
When you're self-employed in D.C., you'll have many choices when it comes to insurance. Self-employed coverage is what you want it to be and is specific to your needs. Take a look at options that you may want to consider.
- Health insurance
- Disability insurance
- General liability insurance
- Business property insurance
- Business equipment breakdown insurance
- Life insurance
- Professional liability insurance
- Commercial auto insurance
- Commercial umbrella insurance
- Cargo insurance
Health Insurance Options for Being Self-Employed in D.C.
If you are running a business in D.C., you'll be responsible for commercial insurance. From general liability to health coverage, there are many choices. Since you won't have a boss to provide health care, these options will be available to choose from.
- Private health insurance: This can be obtained through an independent agent and go through some of the household named carriers. At times, this route can be pricey depending on who's included in your plan.
- Medical sharing plan: This is not technically insurance but works the same way. You will pay a monthly share amount depending on what program you choose. This share will get pooled with the other members' share amounts. When you have a medical loss, you can file a claim, and the plan will reimburse you from the pool.
- The marketplace: This is insurance through the government marketplace. It can be applied online at your own risk or through a licensed agent. You will report your annual earnings and then choose from an assigned market at a discount. The less household income you make, the lower your premiums will be.
Best Health Insurance for Being Self-Employed in D.C.
In the District of Columbia, the best insurance you can obtain may not be the same as someone else's. Every policy is specific to the entity it's insuring. Like your business owners policy, you'll have unique needs when it comes to health care. Let's look at your three health insurance options below and see which one is best suited for your business in Washington, D.C.
The private health insurance option
- Most expensive
- Works well with most healthcare offices
- May offer the most coverage
- Uses standard health insurance markets
The medical sharing plan option
- Less expensive
- Has restrictions since it's not insurance
- Has to be reimbursed when a loss occurs
- Most healthcare facilities have not heard of it
The marketplace option
- Least expensive
- You have to prove your income each year
- Works best for low-income households
- It works well if you have a lot of tax write-offs
- Uses standard health insurance markets
- Not all healthcare facilities accept this plan
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Our independent agents shop around to find you the best coverage.
Self-Employed Health Insurance Cost in D.C.
Your D.C. business insurance costs will vary depending on your policy and more. Workers' compensation coverage will be charged differently than your professional liability, and so on. Take a look at what health insurance companies use to calculate your premiums.
- Location
- Health history
- Your age
- Your weight
- Any current health concerns
- Who's included on your policy
- How often you work out
Disability Insurance for Being Self-Employed in D.C.
In D.C., $750,576,000 in commercial insurance claims were paid in 2019. Disability insurance is often overlooked along with life insurance, but both are necessary when you're self-employed. Check out what disability insurance has to offer.
- Pays for your lost income when a disability occurs
- Short-term disability will pay 60% to 70% of your income
- Short-term disability lasts up to a year in some cases
- Long-term disability will pay 40% to 60% of your income
- Long-term disability lasts the length of the disability or until retirement
Do Self-Employed Workers Need Workers' Compensation Insurance In D.C.?
Workers' compensation in D.C. is a requirement in most cases. If you're self-employed, you won't technically need workers' compensation insurance, but it may be required when you do work for another entity. First, it's beneficial to know what workers' compensation is.
- Workers' compensation insurance: Pays for the lost wages and medical expenses of an employee who becomes injured or ill while on the job.
How a D.C. Independent Agent Can Help
If you own a small business in D.C., you'll be responsible for everything. When it comes to your protection, there are people who can help. Self-employed insurance can be expensive if you don't know where to look.
Fortunately, an independent insurance agent will have access to multiple markets at once, saving you time and premium dollars. They do the shopping at zero cost to your operation. Connect with a local adviser on TrustedChoice.com to get started.