Business insurance and personal insurance

In the Netherlands, you are not obliged to insure against any risks that you run as a result of having a company. However, you can take out insurance to cover some of these risks on a voluntary basis via an insurer. Starting entrepreneurs may be eligible for a voluntary insurance at the Institute for Employee Benefit Schemes (Uitvoeringsinstituut Werknemersverzekeringen, UWV).

There are personal and business insurances. A personal insurance is, for example, invalidity insurance (arbeidsongeschiktheidsverzekering, AOV) or accident insurance (ongevallenverzekering). Business insurances are meant to cover risks that your business may run. These types of insurance include:

• company liability insurance (bedrijfsaansprakelijkheidsverzekering);
• company car insurance (bedrijfsautoverzekering);
• consequential loss insurance (bedrijfsschadeverzekering);
• professional indemnity insurance (beroepsaansprakelijkheidsverzekering);
• export credit insurance (exportkredietverzekering, EKV);
• goods-in-transit insurance (goederenverzekering);
• loss-of-income insurance (inkomensverzekering);
• machinery and equipment insurance (inventarisverzekering);
• credit insurance (kredietverzekering);
• buildings insurance (opstalverzekering);
• legal assistance insurance (rechtsbijstandverzekering);
• sick leave insurance (verzuimverzekering).

If your business ceases trading, decide whether you must also cancel your insurances.