Though it may not be something that you have considered as an independent composer or performer, general liability insurance can be an incredibly valuable asset. While a company will likely have some resources at its disposal should a legal situation arise, for an individual there is little more than your savings account standing between you and an insurance claim.
This insurance covers you for damages to a location or for injury to an uninvolved bystander or audience member. It also covers your legal fees if anyone sues you because of either of the aforementioned scenarios, meaning it will give you peace of mind for the next spontaneous marching band parade that you may have in the works.
As an individual, this coverage is most important if you are hosting showings or events, if you are performing outside for the general public, or if you are considering anything requiring permits from your city.
And if you teach, get this coverage immediately. An injury to a student is the last thing that anyone wants to consider, but in that circumstance you can be held responsible.
Since this is a solo operation, I don’t have anyone I pay but I do shamelessly ask friends to move my gear. Done under duress or not, that’s still considered volunteering. Do them a favor. Volunteer Accident
I don’t have any musicians, but I do pay my marketing manager. Nice work! Workers' Compensation