Setting up a business - Ways to self-employment

What company insurance policies do you need?

Before you request offers from insurance companies, you need to know what your main risks are: Where can genuinely large damages occur? Example: interruption of operations when, for example, the loss of clients or damage to machinery brings production to a standstill.

The most important company insurance policies

  • Corporate liability insurance: in the case of claims for damages by third parties, e.g. clients, suppliers, visitors and staff
  • Insurance against interruption to operations: for running costs like wages, salaries, rent and interest payments, etc., as long as no revenues can be earned
  • Insurance against damage to assets for company directors: for personal liability, particularly of directors of GmbHs and members of the board of AGs
  • Insurance against break-ins: for damages due to theft, destruction, vandalism etc.
  • Insurance for computers: e.g. for the costs of restoring programmes and data and for maintaining operations after a virus attack
  • Fire insurance: for damage due to fire, lightning, explosion or aircraft crashes
  • Motor vehicle insurance: for damage to persons, objects and assets caused by the driver to third parties
  • Insurance against water damage: for damage due to water from water-pipes or from water and heating facilities
  • Machinery insurance: for repairs to stationary and mobile machinery caused by human error, operating error, negligence, etc.
  • Product liability insurance: for damage caused by faulty products to third parties (especially manufacturers, suppliers, licensees)
  • Insurance against weather damage: for damage caused by bad weather to buildings and movable assets
  • Environmental liability insurance: for claims for damages when operations pollute soil, water, air
  • Insurance for staff: e.g. accident insurance, company pension insurance or new pension options
  • Insurance against breach of trust: for costs caused by embezzlement, misappropriation, theft, forgery, fraud and other asset-related crimes

Prevention of damage saves money

Insurance companies offer discounts on premiums for measures to prevent damage: e.g. for alarm, fire detection, sprinkler or extinguishing equipment. Discounts are possible if no damages have occurred in a certain period. Agreeing to cover the cost of minor damage oneself also usually saves money.

Link

»Print
»Top of page