Business liability insurance (AVB)

It is not a legal requirement for companies to have public liability insurance. Companies are free to choose whether to insure themselves against damage they cause to others. However, many clients and industry organizations do require public liability insurance as a condition for working together.

With liability insurance (AVB), the company itself is the policyholder and thus insured for damage to persons or property of third parties. In many cases, employees are also co-insured. This means that damage they cause during their work is covered through the AVB.

Not all employees are automatically co-insured. Certain professions, such as doctors or lawyers, often require separate professional liability insurance policies. Therefore, always check the coverage and terms of your AVB to know who is insured and purchase additional insurance if necessary.

Business liability insurance is for small and large entrepreneurs, sole proprietors and sole proprietors. After all, any business can face liability damages.

Business liability insurance does not cover professional liability. You will need to take out professional liability insurance for this.

In addition, items that you have 'under supervision' are not automatically covered by insurance. These are items belonging to someone else that you are working on or that you are temporarily managing, such as a kitchen or bathroom that you are installing. You can often insure these items, usually up to an amount of €5,000. Please contact customer service for more information.

Always check the policy conditions to see if there are more exclusions. This varies by insurer.

No, business liability insurance is not mandatory. However, it can be a very useful addition to your business insurance. After all, an accident is in a small corner and it is not nice if you have to pay for the financial consequences of a damage yourself.

Moreover, suppliers or clients increasingly do not want to do business if someone is not insured.

Liability insurance is an important type of insurance for your business. While working, you or one of your employees may accidentally cause damage to other people's property or to other people themselves.

When personal injury occurs, the costs can quickly reach tens of thousands of dollars. Business liability insurance provides coverage in many situations and can then be the solution.

Business liability insurance is often confused with professional liability insurance.Professional liability insurance covers financial losses incurred by your client as a result of a professional error for which you are liable. It is particularly relevant for entrepreneurs who provide advice in their work, such as consultants or engineers.

Personal liability insurance covers damage in private situations, while business liability insurance covers damage during work. Business damage claims are therefore not covered by personal insurance.

Using private liability insurance for business purposes is not permitted. If you are held liable for damage during work as an entrepreneur, you need business liability insurance that specifically covers commercial risks.

Yes, in many cases, business liability insurance is deductible as a business expense. The premium is considered an operating expense and therefore reduces your profit. Be sure to check with your accountant to see if this applies to your business.

Taking out additional insurance is wise if you work with increased risks or carry out specific business activities that fall outside the standard coverage of your general liability insurance. Therefore, always check the terms and conditions and take out additional insurance where necessary.