Big company benefits are something us freelancers are lacking. Check out Kover.ai, click this link for a free month. Yes Kover is a sponsor but they provide some really great benefits for gig workers. Everything from paid time off, sick leave, 24/7 health service, legal protection and more. In today’s episode, I talk about some safety nets we need as freelancers and how Kover should be an integral part of that mix for you.
Hey guys, Mike Volkin here. Thanks again for joining me for another episode of Freelancer school. So today we’re going to be talking about safety nets that freelancers need. And I recently did a blog post about this and got some good feedback. So I thought I’d extend my discussion over to this podcast. One of the things that I want to just say straight upfront is that part of this podcast is about a sponsor of Freelancer masterclass called Kover. I’m going to talk about them in a second. But the real hard part about being a freelancer and a consultant is having that safety net. You know, a lot of times freelancers and consultants use their spouse as you know, an insurance backup, you know, in cases, you know you medical insurance, your spouse’s work will cover you, right. But in some cases, you are
either not married or don’t have someone to depend on for insurance and you have to get your own. So in that case, let’s talk about the different types of insurance you will need as a consultant and a freelancer to really make it and then we’ll kind of fold in my sponsor, which is Kover here, okay. So, and by the way, it’s Kover.ai. And I’ll talk about why they’re important in a second. But going back to the insurance part, you’re going to want general liability insurance. It’s a good idea. If someone seeks damage reimbursement from work that you’ve done, especially if you’re a consultant that does hands-on work, work that’s, you know, maybe in somebody’s home or something, you’re going to want general liability insurance. You also want to consider and this is the big one professional liability. Now, especially if you’re in real estate, or as a realtors need was
called E and O insurance errors and omissions, but professional liability covers you for legal expenses when a client claims negligence. So let’s say you’ve done paid ads research for them, you know, you launched a Google Ads campaign, and you spent thousands of dollars of the client’s money and it’s let’s just say it’s, it’s the wrong keywords like you didn’t quite understand their business model, and you launched in spent a bunch of money that, that they didn’t want to spend for keywords that they didn’t want to go after. And I’m using that as an example because I’ve seen it happen in my professional career twice for that exact same example. So then the client goes back and says, Hey, you either pay me 250 500 you spent on Google ads that didn’t have to do with my business, or we’re gonna have a problem. And of course, most the time, the consultant, in this case is only getting paid a few hundred dollars to manage that 5500. And they don’t have that kind of money. So this is where something like professional liability insurance would come in. So now let’s move into the other issue of what happens if you get sick
You know what happens if you get in an accident you get hit by a car right So in those cases you’re out of work and there’s nothing that there’s no vacation time your employer can give you like in a normal job because you work for yourself you know, it’s part of the the downfall of working for yourself and being an entrepreneur is that there’s no safety net. Well in this case now there is there’s something called covr which I thought was you know, really cool and I’m glad they’re a sponsor, I probably would have talked about them anyway. Regardless them paying me but you know, I’m gonna give them their due here because they are paying me to talk about them. But truly, even without them paying me I will talk to you about them because they are. It’s a great, great service for gig related work, especially if you have some kind of guaranteed income. In guarantee. I mean, predictable income, you know, especially if you drive for Uber deliver food.
You know, there’s big benefits to being a gig work with cover. You get that big company benefit feel, you get that income guarantee. You get that
sick leave, you get 24 seven health benefits, you get tax and legal help even bookkeeping, all that for a monthly fee, you know and plan start for $7 an hour. So if you don’t have something like this, especially insurance, but you know, something like Kover as a backup, I would definitely sign up. And in fact, they gave me a free, you know, free one month trial, if you wanted to go check it out. I’ll put it in the show notes here. So you can just click that link in the show notes, you know, get your first month for free, it might be worth it just for the paid time off in the sick leave by itself, let alone all the health care service, the legal protection, all that other stuff that you would want as if you’re working for a big company. So go ahead and check them out. It’s really a fantastic innovative new company. And it’s based right here in my hometown of San Francisco. And I’d love to see you become a member and get some great benefits that they’re offering. So go ahead and check out Kover.ai