To make a mistake is human, we all agree on that. But it makes a difference whether you spill wine on your friends' sofa or give wrong advice to your client. In the latter case, you could end up with a claim that will cost you a lot of money, time and negative publicity. And in the worst case, your business will never recover. Read here the 7 reasons why every company needs legal assistance insurance.
You cannot use your private legal assistance insurance for business purposes. Not even if you are a self-employed person. So the proverbial "an accident is at stake" could turn out to be very expensive if you had relied on it. Did you know that the hourly rate of a lawyer is between €100.00 and €300.00?
Legal expenses insurance for businesses protects your business if you find yourself in a conflict situation. You will receive legal assistance if someone accuses your company of something. You can think of a complaint from a customer about the work you delivered or an employee who complains about the contract you have with him or her.
The other way round is also possible: Suppose the raw materials you have bought are not delivered on time, or do not meet the promised quality. If you cannot reach an agreement with your supplier, you can get legal assistance through a legal assistance insurance. And do you think you can't do anything against the municipality that refuses to grant you a permit? With business legal assistance insurance, suddenly you are no longer alone. You can claim both direct and indirect costs.
The legal assistance insurance also works preventively. You get advice on how to protect your company so that you have less chance of becoming involved in a conflict. Are your General Conditions in order, for example? And do all your documents comply with the law?
Do you ever have to deal with "non-paying" customers who do not pay or pay far too late? You can extend your legal expenses insurance with a collection insurance. You will then receive help to get customers to pay their outstanding bills.
An extensive fleet of vehicles is often a reason to take out a motor vehicle supplement as well. Everything that is motorised within your company is therefore legally insured. Tractors, machines and forklifts included.
Are these not American conditions? Do you have to want to seal off everything? These are dilemmas that we have to deal with more and more. And yes, unfortunately, the claim culture as we know it from America is also becoming more common in the Netherlands. This is partly because we are becoming more educated. We are more aware of the possibility of challenging something. In addition, the Internet and social media play a major role. We know how to find each other, are quick to share our frustrations and are becoming increasingly claim-conscious. This is a good thing, but at the same time it poses a great risk to your company. So weigh up whether you want to run that risk or whether you have enough energy, time and resources to survive a legal conflict.
Want to know more about business legal expenses insurance? Or would you like to know which other business insurance policies are applicable for your company? Check it out directly on Alpina\.nl. Because Alpina specializes in business insurance. We are fast, professional and inexpensive. For example, you can take out legal expenses insurance with us for as little as €20.00 per month. So don't take unnecessary risks but protect your business!
Please feel free to contact us if you would like to know more.
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