[vc_row css=”.vc_custom_1542889947742{margin-top: 60px !important;}”][vc_column][vc_single_image image=”1079″][vc_column_text]When entrepreneurs are organising their future company or business and preparing business plans, marketing plans and financial plans, one important point they need to study is the following:
Which Mandatory Insurance Policies Do I Need for My Company?
Each business is different and is subject to different regulations and obligations. Regardless of whether they are compulsory, however, there are some insurance policies that are almost always taken out by any company or business:
Damage Insurance
Here we refer to insurance for fire, theft, pipe or glass breakage and a long list of optional guarantees.
Liability Policy
The company or self-employed entrepreneur will need to take out liability insurance to protect against claims for indemnity for damage they may have caused “to third parties”.
Collective Agreement Accident Policy
Not all collective agreements require the company to take out accident insurance for employees, but many do. In addition, they do not always require accident insurance: sometimes the employer must arrange health policies, pension plans and other benefits.
Other Insurance
There are other types of policies that, depending on the type of business, are also commonly arranged, such as:
- vehicle insurance,
- transport insurance,
- travel assistance,
- credit insurance,
- temporary disability insurance for self-employed workers,
- machinery breakdown insurance,
- professional liability insurance,
- and many other types of insurance that may be necessary in each specific activity.
Where Can I Find Information About Mandatory Insurance If I Am an Entrepreneur?
There are several ways to stay informed about the obligations that a company or self-employed worker must comply with in their corresponding activities.
On the one hand, many activities have professional associations or trade bodies. These organisations are fully informed and up to date on the regulations applicable to the sector.
It is also advisable to consult your lawyer and tax or business adviser, as they can provide information about collective agreements, regulations and related obligations.
It is also very common to consult your usual insurance brokerage. Although its role is not to provide legal advice, experience with similar clients often means it has useful information about certain company obligations.
It should also be borne in mind that regulations in different municipalities are often different from those in others, and the same applies to autonomous communities. This occurs, for example, with liability insurance for hospitality businesses in Madrid municipality, where obligations may differ from other towns in the Community of Madrid.
If you would like to ask us for quotes for your business insurance, we are at your disposal.[/vc_column_text][/vc_column][/vc_row]