All business activity encompasses risks and it is essential that you know how to defend the company, the staff and yourself. In Spain, as elsewhere, the same questions arise: how can a contractor ensure his company? What insurance policies exist and what are they for?
There are many risks that can affect a company as well as its employees and products within it. You should therefore take out insurance to avoid problems and accidents.
Before meeting your insurer, you should make a list of the main dangers against which you want to protect yourself in order of priority:
In Spain and abroad, there are several types of contracts to allow you to address the dangers of professional activity: • Group Contingency Insurance: health welfare is a set of complementary social protection policies in addition to a compulsory scheme. They allow you to be better protected for various accident such as illness, maternity, disability, hospitalisation and death. In case of problems, this health welfare will provide significant financial compensation and avoid any difficulties for you and your employees. • Professional Liability Insurance: the insurance company agrees to indemnify and reimburse the damage caused by the company's activity. This coverage protects any assets and unexpected new staff. • Automobile insurance covers all motor vehicles in the company. When you move, it is important to assess early on and as accurately as possible the nature of any potential threats, the financial consequences and mediate between self-assurance and the transfer of risk to the insurer. • Comprehensive multi-risk insurance protects the physical assets in the company (furniture, machinery, real estate, equipment) but it also offers protection from civil liability to third parties, it guarantees the continuity of business in case of accident and preserves goods during transport. It is the most convenient option for overall coverage. It’s the 'must-have' for companies in Spain.
Insurance policies that are mandatory include professional liability insurance, vehicle insurance, collective pension insurance to protect employees in the company. Moreover, in case of damage, it is advisable to choose a comprehensive insurance that protects your personal property whether it is rented or not. Also, you will have to take out civil operating liability insurance that will cover the hazards of the activity in the company. Finally, we must not forget that the director of the company could be sentenced for negligence at work so you must think about ensuring that the company is not without a director. .