{"id":359752,"date":"2021-06-03T08:25:42","date_gmt":"2021-06-03T14:25:42","guid":{"rendered":"https:\/\/www.creditrepair.com\/blog\/?p=359752"},"modified":"2022-02-25T20:25:04","modified_gmt":"2022-02-26T03:25:04","slug":"tips-for-new-gig-workers","status":"publish","type":"post","link":"https:\/\/www.creditrepair.com\/blog\/finance\/tips-for-new-gig-workers\/","title":{"rendered":"7 tips for new gig workers"},"content":{"rendered":"\n
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Disclosure regarding our editorial content standards.<\/a><\/p>\n\n\n\n

\u201cGig work\u201d is an all-encompassing term that typically covers any type of work that someone does outside of a conventional long-term employer relationship. Individuals who take on gig work are often called independent workers, contractors or freelancers. Some current popular examples of gig workers include Uber drivers, DoorDash delivery drivers, Airbnb hosts, dog walkers, writers, photographers and more. <\/p>\n\n\n\n

Individuals who participate in the gig economy may choose to do so on top of their regular full-time job or as their primary source of income. The gig economy has exploded in popularity in the last few years. In 2014, there were 53 million freelance workers in the United States. As of 2020, that number has increased by 11 percent to 59 million people. <\/a><\/p>\n\n\n\n

On average, gig workers work between 11 and 30 hours<\/a> per week. Freelance work is a great way to earn supplemental income, earn income as a retiree<\/a> or start working in an area you\u2019re passionate about. If you\u2019re interested in breaking into the gig industry, check out these essential tips for new gig workers. <\/p>\n\n\n\n

1. Think about insurance coverage<\/h2>\n\n\n\n

When you work in the gig economy, the IRS qualifies you as running a small business. This also applies to your insurance. As you\u2019re working for yourself\u2014and are your own boss\u2014you need to make sure you have an insurance policy that covers you while you work. <\/p>\n\n\n\n

Before entering gig work, you need to fully understand what your insurance does and doesn\u2019t cover in relation to your work. For example, Uber and Lyft provide insurance coverage for their drivers, but the coverage is only in effect when you\u2019re on your way to pick up a client or have clients in your car.<\/p>\n\n\n\n

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In contrast, Instacart doesn\u2019t provide any sort of commercial insurance coverage for its drivers.<\/a> Or there\u2019s the popular dog-walking site Rover.com, which offers partial coverage\u2014vet injuries to a client\u2019s dog are covered, but injuries to the pet owner or dog walker aren\u2019t covered. <\/p>\n\n\n\n

Ultimately, insurance for gig work becomes very complicated because gig work is so varied. For example, let\u2019s say you\u2019re a freelance photographer and a client accidentally breaks your camera. Do you have insurance to cover on-site equipment costs? <\/p>\n\n\n\n

Before accepting gig work, do your research into your insurance coverage. Experts recommend that freelancers have three types of insurance policies:<\/p>\n\n\n\n