How much does civil liability insurance for the self-employed cost?

2023-08-13 18:42:51

And liability insurance can be very useful for a autonomous and his business. In fact, if you don’t have it, you may be taking a huge risk without even realizing it.

And it is that, this type of insurance has the function of ensure business continuityin the event that an accident or fortuitous event oblige third parties to pay damages.

In this situation, this insurance guarantees being able to meet payments that, under normal conditions, the structure of a business would not be able to support. But…How much does liability insurance for the self-employed cost??

What is civil liability insurance?

How much does civil liability insurance cost for a self-employed person?

Is civil liability insurance for the self-employed mandatory?

When to take out civil liability insurance for the self-employed?

What does civil liability insurance cover?

What is civil liability insurance?

He liability insurance is a policy that is activated when a company or self-employed person must indemnify a third party (or their own employees) for physical, material or moral damage.

Without a doubt, it is a highly recommended option for any company or self-employedto cover internal situations that, without insurance, could cause the bankruptcy of the company.

let’s put a example. A customer who accesses our store slips because the floor is wet, suffering injuries. In this case, the liability insurance hired will be in charge of indemnify him.

How much does civil liability insurance cost for a self-employed person?

The price of liability insurance vary according to the size and sector of activity of the SME or self-employed.

In this sense, the average price of the liability policies hired for freelancers and small entrepreneurs around 120 euros, according to the Cooperative Investigation between Insurance Entities and Pension Funds, ICEA.

For its part, the average price of civil liability insurance in Spain is 575 euros.

Is civil liability insurance for the self-employed mandatory?

Hiring civil liability insurance it is not mandatoryyes it is advisable to be covered against the unexpected.

It is also clear that with such a policy, a self-employed person ensures that deal with possible personal or material damage that may inadvertently cause third parties.

However, the more risks for third parties carry activity developed by a freelancer, more steps should be taken to protect your business and its integrity.

When to take out civil liability insurance for the self-employed?

Saber measuring risks is importantso this will give the autonomous the possibility of evaluating more clearly when to take out this type of insurance.

However, there are cases in which it is mandatory. For example in businesses dedicated to the health sectorit is mandatory Have this type of policy.

Like all self-employed workers who carry out their activity in a space or physical store, whether or not they have employees: bars, restaurants, hairdressers, hardware stores, bookstores. When applying for a local opening license, it is essential to have this coverage.

These are some professional activities in which It is essential to have civil liability coverage.

professionals who offer financial services and administrators bankruptcy (those in charge of managing and administering bankruptcy proceedings). self employed owners of bars, restaurants, cafeterias, aesthetics and hairdressers. To obtain the license to open the premises, it is necessary to have professional civil liability insurance for the self-employed. Self-employed who work in a travel agency.
Insurance brokers and lawyers. people dedicated to pyrotechnic activity. Owners of theaters and organizers of bullfighting events. Freelancers dedicated to performing shows. Self-employed who run sports complexes. workers dedicated to installation of gas. professionals of health sector with a high risk of causing damage during the exercise of their work. professionals who offer lift maintenance and upkeep services.

The list of professions and activities that require the hiring of a liability insurance can be consulted in the Mandatory Insurance Registry (RSO).

What does civil liability insurance cover?

He liability insurance It provides coverage to the self-employed against damages of any kind caused to third parties by their activity, whether they are employees of the business or people external to it, as previously stated.

Regarding the guarantees that a competent civil liability policy must include, at least, it must have the following characteristics:

Los legal defense expenses. Performance of daily work of business employees (employer responsibility). All the risks derived from the activities that are specific to the business, either inside or outside the premises where they are carried out. The risks derived from the use of machinery and work tools. He storage and transport of the goods.
Product Liability; that is to say, on the damages caused by products or services once delivered or finished.