Insurance Planning Worksheet for Micro‑Business Owners

Why Should You Map Risk vs. Coverage?

If you're a freelancer or micro-business owner in the U.S., chances are you wear many hats—but insurance planning probably isn’t one of them. That’s a dangerous blind spot.

Here’s why this matters:

• A single claim or lawsuit could bankrupt you.

• You may already think you’re covered—but you’re likely missing critical policies.

• Knowing your gaps lets you make smarter decisions without overpaying for unnecessary coverage.

That’s why we created a simple, printable worksheet to help you assess your business risks and insurance needs—all in one place.

1. Revenue Tier

How to Use This

1. Download the worksheet (PDF)

2. Fill in your business details honestly

3. Highlight uncovered risks

4. Use this as a discussion tool with your insurance agent or planner

Even if you’re not ready to buy a policy, this worksheet will help you act strategically.

• Understand how your income level affects what coverage you need.

  • Under $25,000/year

  • $25,000–$75,000/year

  • $75,000–$150,000/year

  • $150,000+/year

2. What Do You Rely On?

• Check all that apply to your work:

  • ☑ Laptop or desktop computer

  • ☑ Business vehicle

  • ☑ Website, domain, or online store

  • ☑ Customer or client files

  • ☑ Email list or social media accounts

  • ☑ Inventory or business equipment

  • ☑ Rented office or studio

  These are your exposures. If you depend on them, you should insure them.

Tip: Higher revenue? You’re a bigger legal target—plan accordingly.

What’s in the Worksheet?

Our worksheet breaks down the insurance planning process into manageable sections:

3: Common Risk Scenarios

Have you considered these?

Risk

Could This Affect You?

Are You Covered?

Client lawsuit for mistakes

Cyber breach or hacked site

Work-related car accident

Customer injury at your premises

Theft or property loss

Fines from privacy law violations (HIPAA, GDPR)

Yes / No

Yes / No

Yes / No

Yes / No

Yes / No

Yes / No

Yes / No

Yes / No

Yes / No

Yes / No

Yes / No

Yes / No

Frequently asked questions

Q: Is this a binding quote?

A: No—it’s an estimate for budgeting. You still need actual insurer quotes.

Q: Can estimates change?

A: Yes—you can tweak limits or deductible settings to see how cost shifts.

Q: Is the tool free?

A: Completely. No hidden fees or upsells—just optional links to quote requests if you want deeper support.

✍️ Sample Profile: “Marcus the Web Developer”

1. Revenue Tier: $60,000 (Tier B)

2. Assets: Laptop, website, Google Drive

3. Risks: Cyberattack, IP dispute, stolen equipment

4. Current Coverage: General liability

5. Gaps: Cyber insurance, professional liability

Next Step: Marcus will look into Tech E&O and a cyber rider before tax season.

Final Thought

Planning your insurance shouldn't be overwhelming or expensive. This worksheet helps you organize your thoughts and uncover smart, cost-effective coverage options that fit your business size.

Don’t leave your income to chance.