Entrepreneur insurance

As an entrepreneur, you work hard every day to make your business a success. To be able to do business carefree, it is important that you take out the right insurance for your company. You may not like to think about it, but you can always have an accident or fall ill unexpectedly. This of course has consequences for your personal financial situation and therefore also for your business. There are various business insurances you can take out. Because every company is different, you have to decide which risks you want to insure for yourself, your company and your employees.

Which insurances can I take out as an entrepreneur?

There are many entrepreneur insurances, so it is not surprising that you sometimes cannot see the wood for the trees. Common insurances for an entrepreneur are for example:

• Disability insurance
• Building insurance
• Corporate Liability Insurance
• Environmental damage insurance
• Accident Insurance
• Legal expenses insurance
• Corporate car insurance
• Inventory and goods insurance

Disability insurance

With disability insurance you ensure an income in case of disability. Your income is protected against the financial consequences of incapacity for work. With this insurance you can limit your income loss and you have more financial security for your business.

Building insurance

With building insurance you insure your business premises. This includes damage caused by fire, precipitation, steam, leakage, burglary, falling objects or collision. The insured amount is based on the reinstatement value (repair costs) of the building.

Corporate Liability Insurance

If you or one of your employees causes damage to (the belongings of) another person, that person can claim compensation. With the business liability insurance you are insured against these kinds of costs. Both property damage and personal injury are covered. Damage to property is damage due to loss or damage of items. Personal injury is damage caused by injury or death.

Accident Insurance

The employee accident insurance insures you against accidents at work and during commuting. If an employee becomes permanently disabled or dies as a result of an accident, this insurance pays out a lump sum. You take out this insurance specifically for your employees. Employees also include hired workers such as trainees and temporary workers.

Legal expenses insurance

With legal expenses insurance for companies you are assured of professional legal assistance when, for example, a difference of opinion, with a customer or the government, leads to a legal problem. You decide for yourself for which legal problems you want to be insured. By default you are insured for legal assistance for the recovery of property damage or personal injury. Disputes concerning the exercise of entrepreneurial activities are also covered. In addition, you can opt for an extra comprehensive variant and you can supplement your legal assistance insurance with the following coverages: agricultural, traffic and debt collection assistance.

Corporate car insurance

All car owners are legally obliged to insure their car from the moment the registration number is registered. This also applies to cars used for business purposes. Third-party insurance is the most important and obligatory part of business car insurance. The abbreviation WA stands for third party liability. This coverage ensures that the damage is compensated to the other party when you are liable.

Inventory and goods insurance

Inventory and goods insurance is insurance that allows you to insure the inventory and goods of your business. An insurer distinguishes between a company's inventory and its goods. Your inventory includes items such as desks, computers and office supplies, but also special machines and perhaps stock. Goods means your trading stock. These are all the raw and auxiliary materials that you use to make your end product.

Which business insurance do I need?

There is a huge range of business insurances, which sometimes makes it difficult to determine which insurances you really need. When choosing insurances, it is therefore important that you determine which risks you want to insure. You do not need to insure all risks. Some risks you may be able to bear yourself, because you have the financial means to do so. Which risks you can best insure yourself depends on your business, your financial strength and the sector in which you operate.

You can take out all your business insurances together. We call this the SME total package. The advantage of the SME total package is that you have one point of contact for all business insurances. In addition, the coverage of the various insurances is geared to one another. Therefore there is no overlap between the insurances. When you take out an insurance package, you will benefit from a package discount, which means that you will spend less on your business insurances.

Which insurances are mandatory for an entrepreneur?

The only business insurance that is compulsory is health insurance. As an entrepreneur you are, just like everybody else, obliged to take out a health insurance. The compulsory basic package of a health insurance reimburses the standard care, such as the general practitioner, the hospital or the pharmacy.

Although most business insurance policies are not compulsory, some can be a nice addition. For example, business liability insurance is a useful insurance, because liability damage occurs more often than you might think. You can compose and conclude your business insurance yourself. This way, you can be sure that your company is well insured.