Someone who is self-employed is most likely to need home-based business insurance if they operate their business from home. This type of insurance can help protect their business equipment, liability claims, and other business-related risks that may not be covered by a standard homeowner's policy.
However, depending on the nature of their business, they may also require professional liability insurance, business interruption insurance, or general liability insurance. The specific needs will vary based on the type of business and the associated risks.
Product liability insurance would be more relevant if the self-employed individual is involved in selling or producing products, while worker's compensation insurance is typically necessary if they have employees.
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