In case you were wondering, I thought I’d tell y’all how it’s going. First of all, I’ve somehow picked up a southern accent as evidenced by my use of “y’all”.
Health Insurance: I thought about limiting our insurance to taking vitamins and being VERY careful, but apparently that isn’t perceived as being very responsible nor wise. So with that option being, how shall I put it, stupid, Akumi and I researched the various options out there and settled on two individual PPO plans with Blue Shield. Getting two individual plans is cheaper than the cheapest family plan which was overkill for us. Since we don’t have kids and are both relatively young and relatively healthy, this is a good option for us.
Errors & Ommisions Insurance: I’ve read that this is important for independent contractors, but as I never make mistakes, I couldn’t imagine that it would apply to me. Even so, I am looking into it. In the meantime, I had my lawyer buddy Walter give me some wording for my contract to cap my liability at the amount of the contract. That was an idea that Jeanine, my former boss at Solien gave me when I had lunch with her recently. Right now, none of my contracts require E&O coverage. Do you need E&O coverage?
The Contract: Immediately after quitting my job, the start date for the bulk of the development work got pushed back to June. This kinda came out of left field, but that’s the risk I took by going independent. As it stands, it is actually working out nicely as I’m getting a much needed break. Tomorrow we’re getting started on some billable architecture work. We’ll definitely have some work to do, just nothing full time till June I think. In the meanwhile, I’m pursuing a couple leads on some short term work to fill in the time in between in case I need to do so.