No work, no pay
Gig work gives you control over when you work. It also means that if you are injured or ill, the money stops. There is no sick pay from the app, and statutory support may be limited or unavailable depending on your status.
If you rely on gig work for most of your income, a few weeks off can put rent and bills at risk.
Recovery can take longer than you expect. A broken wrist or bad back might keep a rider off the road for weeks, and a serious illness for months. Savings rarely stretch that far.
How insurers work out your income
Insurers usually look at your taxable profit after expenses, not the total your apps paid you. They often ask for one or more tax returns. If your income varies, they may average over a period.
Keep records of every platform you work through. If you combine gig work with a part-time job, insurers can usually count both.
If your earnings have grown recently, insurers may still use an average of earlier years. That can mean a smaller benefit than your current income suggests. Review cover once your tax returns catch up.
Your job and your risk
Delivery riders on bikes and drivers who spend long hours on the road face different risks from a freelance designer at a desk. Insurers group jobs into classes, which affects price and the definition of incapacity.
Be precise when describing your work. If you do several types of gig, tell the insurer about all of them.
Hobbies and extra work count too. If you drive for an app at weekends and work a desk job in the week, the insurer may assess the riskier job. Tell them about both.
Choosing a policy that fits a variable income
Short-term income protection pays for one, two or five years per claim and costs less than long-term cover. For many gig workers that is a practical starting point. Long-term cover pays until you recover or retire.
Pick a deferred period you can manage. If you have little savings, a short one helps, though it costs more.
Waiver of premium can be useful too. It covers your premiums while you are claiming, so the policy stays in force without extra cost when money is tight.
- Short-term cover for tighter budgets
- Long-term cover for maximum protection
- Short deferred period if you have little savings
- Review the benefit as your income grows
How Hi Tomorrow helps gig workers
We look at your work, your income records and your budget, then compare insurers on our panel that understand self-employed and gig earnings.
We explain how each insurer would assess your income and what evidence to gather before you apply.
If income protection is not affordable yet, we can look at a short-term policy with a modest benefit, so you have something in place while your income grows.