2024's Top 13 Side Gigs (They All Need Freelance Insurance)

If you work freelance, insurance should be top of mind. For one thing, you won’t have the benefit of an employer covering your bases if you’re faced with a lawsuit–unless you’re adequately insured. The same applies to those who are freelancing in addition to holding down a full-time job. Taking on a side gig can be a great way to boost your income, but it also comes with unique risks.

Whether you're driving for a ride-sharing service, like Uber or Lyft; freelancing as a content creator; or running a small business from home, it's important to consider the risks of that part-time work and ask yourself: Will it require insurance? What if you miss a deadline and don’t get the check you were counting on? Or what if you lose a work laptop or tablet? Do you have a plan if someone gets hurt and it’s your fault?

Side gigs often lack the security of employer-sponsored health insurance, too, making it crucial to take the steps necessary to protect yourself, not just from financial losses, but also medical bankruptcy. Here’s everything about gig worker insurance products so you can decide which types of coverage you need.

Top 13 Side Hustles in 2024

If you’re a freelancer or have some kind of side hustle, you’re not alone: 45% of Americans have a side gig, and they work 5 to 10 hours a week on top of their 9 to 5.^[1] In fact, the gig economy continues to grow, and there are many kinds of side jobs you can get. Here are the top 13 freelance gigs of 2024:

1. Freelance Writing and Editing

There is still a high demand for content creation for blogs, sales decks, landing pages and other types of assets. Basically, companies still seek copywriting that is not AI generated. Freelancers with strong writing skills can find opportunities across various industries, including tech, healthcare and marketing.

2. Graphic Design

Businesses need logos, marketing materials and website design, and they need. Freelance graphic designers for these projects.

3. Online Tutoring and Teaching

Online education and education tech are growing sectors, so there's a high demand for tutors in subjects ranging from math and science to languages and music. Platforms like VIPKid and Tutor.com offer opportunities to tutor students around the world.

4. E-commerce and Dropshipping

You can operate an online store using platforms, like Shopify or Amazon, which allow sellers to sell products without an inventory. Dropshipping then ships products directly from suppliers to customers.

5. Ride-Sharing and Delivery Services

A part-time job with Uber, Lyft, DoorDash, and Instacart can help you earn extra money, if you have reliable transportation.

6. Social Media Management

If you can establish a strong social media presence for businesses, there is a demand for experienced social media managers, who can create content, attract followers and sell products.

7. Influencer on Social Media and Streamers

If you’re an influencer, you’re getting viewers to try products and take advice from you. It’s important to be protected with the right insurance products, like general liability and professional liability.

8. Handyman Services

If you can repair homes or do electrical work or painting, platforms like TaskRabbit and Thumbtack can help you find clients.

9. Pet Sitting and Dog Walking

Pet owners need dog walkers if they do not work from home. Otherwise, they will need reliable care for their dogs and cats when they travel. Advertising pet sitting and dog walking services through apps like Rover can help you start a side hustle.

10. Fitness Training and Coaching

The health and wellness industry is thriving, and there is a demand for personal trainers, fitness and yoga instructors as well as nutrition coaches.

11. Consulting Services

Here are some lucrative side gigs that can earn you great money on the side, if you are an expert: business consultant, management consultant, marketing and seo consultant, education consultant, software and app developer, engineer, market research analyst and data analyst.

12. Insurance Sales

All you have to do to make some side income is sell insurance. You can set your own hours and have one test to pass to get started.

13. Real Estate

You can pay your mortgage for a few years with the sale of one home, so if you have a few hours a week to hustle around to open houses, you can make a lot of money selling a home every couple of years.

Suggested Insurance Coverages Based on Freelance Work

The Importance of Gig Workers Car Insurance

The type of freelancer insurance you need depends on the type of work you do. For instance, if you’re a freelance writer or content creator, you don't need a commercial auto insurance policy.

However, if you drive for ride-sharing services, (like Uber and Lyft) or delivery platforms (such as DoorDash, Instacart or Amazon Flex), your personal policy won’t fully cover you unless you have a rideshare endorsement added to your personal policy. Ride-sharing and delivery services companies often provide some insurance, but the limited coverage applies only while a passenger is in the car or during a delivery.

A standard personal car insurance policy will not cover accidents that occur while driving for commercial reasons like showing a home to a prospective buyer or fixing a clogged sink. In these instances, you’d need commercial auto insurance coverage to protect yourself and your vehicles.

Which Side Hustles Need Commercial Auto Insurance?

Any job that requires you to drive to specific locations for work purposes will require commercial insurance. If you do any door-to-door service or house calls, you’ll probably need commercial auto insurance.

The following six side gigs from our list of top freelance jobs require more coverage than a personal auto insurance policy can provide.

1. Ride-Sharing and Delivery Services (only needs a rideshare endorsement)
2. Handyman Services
3. Real Estate Agents
4. Insurance Agents Who Make House Calls
5. Fitness Trainers Who Make House Calls
6. Consulting Services, e.g. IT Consultants Who Make House Calls

Accidents can lead to expensive repairs, medical bills, and potential lawsuits. Having the right type of insurance coverage is the only way to pay for damages to all parties involved if you’re at fault.

Types of Car Insurance Coverage Needed for Gig Workers

Commercial Auto Insurance: While you don’t need this type of coverage for ride-sharing and delivery, you will be covered. Commercial car insurance provides liability, collision, comprehensive and medical payment coverage for drivers who use their cars for commercial activities.

Ride-Share Insurance: This inexpensive endorsement bridges the gap between personal and company-provided coverage. These policies cover periods when the app is on but no passenger is in the car. This period of time is not covered by the rideshare company’s insurance.

Delivery Insurance: Delivery insurance is an endorsement you add to a personal auto insurance policy. It bridges the gap when the driver is on the way to pick up items or is making deliveries but not driving.

Hired and Non-Owned Automotive Insurance: If you use a vehicle or vehicles you don’t own for business purposes, this is one type of commercial vehicle coverage you must have to cover repair and replacement costs.

Liability Coverage: Required by law, liability insurance covers bodily injury or property damage to others when an accident is your fault. Higher liability limits are recommended due to inflationary repair and replacement costs.

Collision Coverage: Pays for damage to your vehicle when you are responsible for an accident.

Comprehensive Coverage: Covers non-collision-related damage to your vehicle, such as theft, vandalism, or natural disasters.

Uninsured/Underinsured Motorist Coverage: Protects you if you’re involved in an accident with a driver who has insufficient liability coverage. This coverage is required in some states.

Medical Payments Coverage (MedPay): Covers you and your passengers’ medical expenses regardless of fault.

Personal Injury Protection (PIP): In some states PIP is required to discourage lawsuits. Medical bills are covered for each driver and their passengers in the event of an accident, regardless of who is at fault.

The On-Demand Independent Contractors Association (ODICA)

The On-Demand Independent Contractors Association (ODICA) is an organization that advocates for the rights and needs of gig workers, freelancers and independent contractors.

Gig Workers Health Insurance

ODICA provides access to group health insurance plans, retirement savings options and other benefits usually only offered through full-time employment..

Besides health insurance, ODICA also offers other insurance products tailored to the needs of gig workers, such as liability insurance, disability insurance, delivery insurance and ride-sharing coverage.

Association Health Plans (AHPs): Another Alternative for Group Health Plans

AHPs allow gig workers to buy group healthcare coverage which is as cost effective as buying an employer-sponsored health plan. An AHP can offer comprehensive health insurance options for people with a side gig.

What Is Occupational Accident Insurance (OAI)?

Occupational Accident Insurance (OAI) is coverage that protects independent contractors, gig workers and small business owners who are not covered by workers compensation insurance.

OAI provides coverage in the event of work-related injuries or accidents, helping cover medical expenses, lost wages and other financial losses. The coverage includes accidental dismemberment.

An OAI policy covers temporary or permanent disabilities resulting from a work-related incident as well as a death benefit that would be paid out to the worker's designated beneficiaries, to cover funeral expenses and financial support for dependents.

Insurance for Side Gigs: 5 Types of Freelancer Insurance To Consider

Unless you have another job that offers you medical, vision and dental insurance, those and other types of coverage may be wise to consider buying, depending on your specific needs. The following are common gig worker insurance products that freelancers buy:

1. General Liability Insurance
2. Workers Compensation
3. Professional Liability Insurance
4. Product Liability Insurance
5. Disability Insurance for Income Protection
6. LIfe Insurance Policy With a Living Benefit
7. Vision Insurance
8. Dental Insurance
9. Hearing Plan

Freelancers and Taxes: Gig Workers Tax Credit 101

Self-employed taxpayers, including gig workers and freelancers, can exclude up to 20% of their earned income from taxes, as long as you make less than $182,100.^[2]

Also, you can claim up to 50% of the self-employment tax you’re required to pay (that’s 15% of what you earn) as an income tax deduction.

You can also claim your annual insurance premium. The Internal Revenue Service (IRS) views commercial insurance premiums as the cost of doing business.

Insurance Agents Specializing in Gig Work

Pair up with an insurance agent who has clients with similar jobs so that you can reap that agent’s wisdom which comes with experience. Answer the questionnaire honestly (it can count against you if they find out you’re lying).

When the agents start calling you, interview them to see which agent has the personality and know-how to best protect you in case the worst happens.