Insurance explanations

What is legal expenses insurance?

The business legal expenses insurance business covers various disputes, arising from the exercise of business or profession. Among other things, your business is covered for legal support and advice for:

• Conflicts with buyers / customers over services / products provided
• Conflicts with suppliers over procurement
• Conflicts with the government (e.g., permits)
• Legal advice on personnel
• Legal advice on social legislation
• Legal advice on buying, renting and maintaining business premises

Commercial building insurance (+glass)

Insuring your premises is not required by law, but it can prevent a lot of problems. After all, a fire or burglary can cause considerable damage and leave you with a hefty bill. Not what you want as an entrepreneur, of course.

Business property insurance reimburses damage to your business property(s) caused by:

• fire
• storm
• blast
• lightning strike

Do you opt for comprehensive coverage? Then you are also insured against damage arising from the following events:

• outflowing water and precipitation
• burglary and theft
• vandalism and collisions
• falling trees, cranes and pile drivers

Inventory/goods insurance 

Your business inventory, machinery and stored (raw material) supplies can be severely damaged or completely destroyed during a fire or storm. By taking out inventory and goods insurance, you secure your company's financial position. An important condition for taking out inventory and goods insurance is proper protection of your business premises.

What is disability insurance?

Disability insurance is insurance that ensures that you as an entrepreneur still have an income at the time you become disabled. The government does not pay benefits to entrepreneurs. When you as a ZZP'er or entrepreneur become unexpectedly disabled (due to illness or accident) for work, a disability insurance pays a previously discussed amount as income. The amount of this benefit depends on the degree of disability.

What is absence insurance?

Absenteeism insurance, also known as sick leave insurance, insures your company for the continued payment of wages of sick employees. As an employer, you are legally obliged to continue paying part of the salary of sick employees for two years after they report sick. The costs of reintegration and counseling are added to this. This can put a strain on your business and of course you want to avoid that. With absenteeism insurance you are insured against these costs. In addition, your business operations will be disrupted as little as possible.

(Van) car insurance

You are required to insure your commercial vehicle for at least third-party liability (WA). You can expand this basic insurance with limited or full collision insurance. The choice is yours:

• Third-party liability (WA) is the most limited coverage. Only the damage you cause with your company car to other vehicles and/or persons is compensated. Damage to your own car is not compensated.
• WA + limited casco (WA plus), in addition to the WA coverage, also covers fire, hail, storm, theft and windshield damage. Damage to your company car caused by you is not covered.
• WA + full casco (all-risk) covers everything under WA + limited casco, including damage to your own company car, even when this damage is your fault.

What is truck insurance?

In many cases, trucks are one of the most valuable assets of a (transportation) company. Hence, insuring your truck is of great importance. As with car insurance, truck insurance is required to have at least third-party liability insurance.

Business interruption insurance

Business building insurance and inventory and property insurance provide coverage against the direct damage caused by the fire. But the damage in this case was much greater because the clothing store had to close temporarily. That loss of sales was covered by business interruption insurance. How does that work?

• Business interruption insurance covers lost net profits. This is calculated by averaging past sales figures.
• You are entitled to reimbursement for ongoing fixed costs including salaries of employees and yourself.
• You will also be reimbursed for additional costs you face after a fire or other covered catastrophe. For example, the cost of temporarily renting other premises. Or to hire additional personnel to help resolve the damage. Extra communication costs are also reimbursed. After all, the insurance company wants you to get back to earning your own living quickly.

What is reconstruction cost insurance?

For example, if you suffer fire or water damage, chances are that your records (records, designs, drawings, client information) will also be lost. But also consider data on work in progress, outstanding and pending invoices and the like. If you do not have a proper backup of your documents, they will have to be reconstructed. Reconstruction cost insurance can then help.

What is money insurance?

Do you work with cash in your business? If so, you run the risk of theft or loss of cash. Other paper of value, such as stamps or gift certificates, are also insured.

Office electronics can I insure them?

Virtually all equipment used for business purposes can be insured. And if you wish, damage to data and software can also be insured or the additional costs incurred to prevent further business damage.

Need illuminated advertising insurance?

If you have an expensive illuminated advertising installation, it is advisable to purchase illuminated advertising insurance. Especially if the installation is on the outside of your premises. This is because illuminated advertising insurance offers much broader coverage than your buildings insurance. With illuminated advertising insurance you are insured against damage to your installation as a result of, for example, thunderstorms, storms or vandalism.

Environmental damage insurance do I need it?

When soil or water contamination occurs, such as from leaking diesel fuel, contaminated firefighting water or asbestos released during a fire or storm, you may have to pay the cleanup costs yourself. These costs can add up nicely. With environmental damage insurance you are protected against the financial consequences if you cause environmental damage.

Do I need workers' compensation insurance?

Workers' compensation insurance (WSV) insures you against damages incurred by your employees as a result of work-related activities. Because if they have an accident or car accident, for example, you will be responsible for the costs. And these can be substantial.

Employer's liability insurance is it convenient?

You have a broad duty of care for the people who work for you. This includes ensuring a safe working environment, safe tools and proper instructions. If someone suffers damage or injury during working hours and you have not fulfilled your duty of care, you may be held liable.