Self-Employed Insurance: What Do You Need?

As a self-employed person without employees, you bear full responsibility for your own income and business operations. Unlike employees, you are not automatically covered by employer protection. This means you have to provide for your own financial security in the event of illness, disability or damage caused to others. Choosing the right insurances is crucial. This article provides an overview to help you make an informed decision.

There are several insurances that may be relevant for the self-employed, depending on the nature of your work and your personal situation. The most common and often essential insurances are: * Business liability insurance (AVB): This insurance covers damage you cause to others or their property during your work. * Disability insurance (AOV): An AOV provides an income if you can no longer work due to illness or an accident. * Professional liability insurance: This insurance covers financial damage resulting from professional errors.

Business liability insurance (AVB) covers damage that you or your employees cause to others or their property during the performance of your work. For example, a painter accidentally spilling paint on a customer's expensive sofa, or a plumber causing water damage during a repair. The AVB reimburses the costs of the damage, including any legal costs. Note: the AVB does not cover damage to your own property or damage you cause intentionally.

As a self-employed person, you are not entitled to unemployment benefits or sickness benefits. If you can no longer work due to illness or an accident, your income will disappear. Disability insurance (AOV) then provides benefits so you can continue to pay your fixed costs. The premium for an AOV depends on several factors, such as your age, your profession, the amount of the benefit and the waiting period. There are also alternatives to a traditional AOV, such as a bread fund or a donation circle.

Professional liability insurance (BAV) protects you against financial damage claims as a result of professional errors. This insurance is especially important for self-employed people who provide advice, create designs, or provide other intellectual services. Think of an accountant giving incorrect tax advice, an architect making a construction error, or a copywriter committing a plagiarism error. The BAV compensates the damage suffered by the customer as a result of the error, including any legal costs.

In addition to AVB, AOV and BAV, there are other insurances that may be relevant for the self-employed: * Legal assistance insurance: Provides legal assistance in the event of conflicts. * Inventory and goods insurance: Insures your company inventory against damage caused by, for example, fire, theft or water damage. * Car insurance: If you use a car for business purposes, business car insurance is often necessary. * Cyber insurance: Protects against damage as a result of cyber attacks and data leaks.

When taking out insurance, it is important to take a good look at the policy conditions. Pay attention to the following points: * Coverage: What exactly is covered and what is not? * Premium: What is the premium and how often do you have to pay? * Deductible: What is the deductible and when do you have to pay it? * Exclusions: Are there certain situations excluded from coverage? Compare different insurances and request quotes. If necessary, seek advice from an independent advisor. It is important to choose insurance that suits your specific situation and needs.