What is it, where do you apply for it, who takes out insurance for companies and the self-employed? In this post we talk about the coverage included in this type of policy and what it protects the insured: companies ranging from multinationals to the self-employed with or without employees.
In each case, however, a tailor-made insurance policy is drawn up that takes into account the risks, the characteristics of the company's sector (transport, agriculture, construction, etc.) and its size. Although we talk extensively about business insurance, the policy of a self-employed person or SME is not the same as that of a large company with hundreds of employees. For this reason, a perfect insurance policy is one that considers the risks to which an enterprise is exposed in each case. No more, no less.
In this sense, PIB Group Iberia offers you, through our business insurance the most suitable solution for your type of business and its characteristics so that you only have the necessary coverage.
What is business and self-employed insurance?
By way of introduction, it should be noted that insurance for companies and the self-employed protects the professional and personal assets of the insured. The protections are very broad and range from the employees in charge, to the workspace or the commercial cars.
In the event of an accident or negligence, it is possible to produce a cessation or reduction of activity due to unforeseen and unforeseen circumstances.
Main Coverage of insurance for companies and the self-employed
There are many types of business insurance. Some of them are compulsory in certain cases, such as accident insurance or agreement insurance, professional or health liability insurance (for professions such as doctors, engineers and lawyers) or commercial vehicle insurance.
On the other hand, there are insurances for companies and the self-employed which are not compulsory but very convenient in many cases. We are talking, for example, about multi-industry or cybersecurity, as well as the self-employed leave of absence.
Let's take a look at some of the most common insurances and coverages:
Accident insurance under the agreement
It is compulsory by law for companies and self-employed workers, depending on the sector and agreement to which they adhere. Depending on this, different guarantees are provided, protecting the employee in the event of work-related events (some even in the event of non-work-related events).
Liability insurance
This type of insurance protects the company's assets against possible claims. In most sectors it is not compulsory, but it is interesting to consider, both in the case of companies and the self-employed. In other professions, such as doctors, lawyers or architects, it is legally obligatory.
Trade insurance
This insurance is highly recommended for both companies and self-employed people who work in premises or offices. It protects both the damage to the premises and the furniture and objects inside from risks such as flooding, vandalism, theft...
Commercial vehicle insurance
They are not like private vehicle insurance, as their use is professional. It is compulsory to insure vehicles for this purpose. Independently of this, there are other types of insurance for fleets of trucks, buses or commercial vehicles, which also have other types of special protection.
It is very important to reflect the use made of these vehicles: a salesman is not the same as a delivery driver... If we lie, we expose ourselves to problems in the event of an accident.
Sick Leave Insurance
The sick leave insurance for the self-employed are common among the self-employed.
They provide compensation in the event of sick leave in addition to social security, which for this profile of professionals, in 90% of cases, is very low.
How can policies help me?
The basic function of insurance for companies and the self-employed is to avoid having to deal with unforeseen events, mishaps or occurrences with the company's own assets.
In order to perfectly adapt to the needs of each company, there are also multi-industry insurance policies, with packaged policies which include the basic guarantees, with the option of supplementary guarantees.
In addition to these types, there are many other options, adapted in each case to the sector of the self-employed or company, the risks to which it is exposed and the level of coverage it wants to have. For example, to a basic policy you can add protections such as cyber-insurance or travel assistance. And, remember, these insurances are tax deductible.
As you can see, there are many options when it comes to insuring a business. The most advisable is to have a professional advice to identify your company's risks to be able to prevent them with the right insurance mix. At PIB Group Iberia we offer you the experience of more than three decades to help you protect your business completely and not put your company's assets at risk.
