Why take out legal expenses insurance as a company?
Are you considering taking out legal assistance insurance for your company? Sensible, because even as an entrepreneur you can end up in a legal conflict. As an entrepreneur, you have to deal with many different stakeholders. By taking out legal assistance insurance for your company, you are assured of legal help during a conflict. You can always seek advice and will be reimbursed for the legal costs incurred.
For whom is the legal expenses insurance for companies?
Legal expenses insurance is for everyone who owns a business. As an entrepreneur, you maintain contacts with many different parties, such as suppliers, customers and personnel. This increases the chance of a legal conflict, for example about delivery problems, a bill that still has to be paid or (forced) dismissal. A legal assistance insurance helps your company to solve the problem.
Also as a ZZP'er you can take a legal assistance insurance for your company. Which legal assistance insurance you take out depends on the type of work you do. A supplier of flowers can expect different conflicts from an online marketer.
What are the advantages of legal expenses insurance for my company?
A legal conflict can be very complex and the legal costs can mount up considerably. As an entrepreneur, you may be faced with litigation costs, lawyer's fees and costs of independent experts. This is always annoying, but can be particularly challenging if you are a starting entrepreneur. In that case, you often do not have a large buffer to absorb such costs.
In addition, prevention is always better than cure. Unfortunately, a legal conflict cannot always be prevented. Especially as an entrepreneur, you have to deal with many different parties, which makes a conflict more likely. If you take out legal assistance insurance for your company, you can be sure that (part of) the costs will be reimbursed. You are also assured of expert legal advice. Legal assistance can help to solve a conflict, or sometimes even prevent it. That is why it can do no harm to take out legal assistance insurance for your company.
What is insured?
With a legal assistance insurance for your company, a number of matters are insured as standard. The standard coverage consists of:
- Business or professional practice
Conflicts may arise concerning your business operations, for example if your company grows, if you enter into a partnership or if new activities are started. With a legal assistance insurance you are insured for legal help in case of conflicts that arise due to the activities of your company.
- Debt collection
You are also insured for collection assistance. If, for example, a client or customer refuses to pay an invoice, your insurer will take over the collection process from you. This way you don't have to go after the payment yourself.
You will receive legal assistance if you wish to recover damages and personal injuries incurred in traffic. The legal assistance insurance also offers assistance in criminal cases.
You will receive legal assistance in disputes concerning employment law, insurances, permits, environment, criminal and disciplinary cases, real estate used by you, agreements with suppliers and customers or buyers who do not pay. In addition, you can take out a number of supplementary coverages:
- Legal assistance for motor vehicles
This additional cover provides legal assistance in the event of a dispute about motor vehicles used for business purposes.
- Legal aid for individuals
A business legal assistance insurance can be extended with a private legal assistance insurance. With this additional coverage you and your family will receive legal assistance in case of a conflict concerning a private matter.
What is not insured?
There are a number of situations in which legal assistance insurance does not provide cover. With most insurers this is the case in the following situations:
- If you report a conflict too late
- In case of intent and existing conflicts
- Conflicts not related to the normal or customary activities of your business or profession
- Conflicts about taxes, such as a tax assessment, levies, import duties or excise duties
There are also a number of standard exclusions from coverage. These items generally apply to every insurance policy. For example, you will not be covered if you commit fraud when taking out the insurance or claiming damages. There is also no cover if you suffer damage as a result of intent, recklessness, criminal or criminal acts. Finally, molestation is also excluded from coverage as standard.
Get legal expenses insurance for your business through Alpina!
Do you want to take out legal expenses insurance for your company? Then calculate an indication of your premium with us. With our online comparison tool you can compare different coverages and premiums. Always check the policy conditions to see if there are certain situations in which the insurer does not offer coverage.
Can't find your way or do you have any questions? Then you can always contact us. You can reach us by phone at 088-688 37 00 or send us a message via chat, WhatsApp or Messenger. We will be happy to help you!
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