Statutory insurance as self-employed
Some commercial insurances are required by law and others act as a safety net, which you can choose to turn on or off. Exactly which ones you need depends on how your business is set up.
Let's look at the most common commercial insurance policies first:
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Workers' compensation insurance
If you have employees in your company, you must have occupational injury insurance – in everyday terms, workers' compensation insurance. Your insurance obligation applies here, regardless of whether your employees are paid or not.
If they are injured while working for you, workers' compensation insurance can help with the costs of treatment and rehabilitation, compensation for lost working capacity, compensation for permanent disability and the like. You would like help with that.
If your company is organized as an ApS, A/S or cooperative, you are also obliged to buy workers' compensation insurance, which also covers yourself. Whether you have employees or not.
Forsikringsguiden.dk tells you everything there is worth knowing about workers compensation insurance incl. how to buy it.
Motor liability insurance
Your regular car insurance does not cover your company car. There you must have motor liability insurance, which with many insurance companies also includes comprehensive insurance.
If you are a self-employed craftsman, you probably also need to have transport insurance for all the equipment you carry around on the roads.
On the other hand, in many cases you can deduct driving from tax.
Professional liability insurance
Is professional liability insurance mandatory for you as a self-employed person? No, not really. But it is what you would call a really good idea. Especially if you work outside with customers, e.g. as a craftsman.
If you or your employees injure someone or something while you are working, your professional liability insurance will cover the damages. Alternatively, you yourself are responsible for all the misery.
You can choose to expand with product liability insurance if you have a product or service that could potentially cause damage after it has been sold.
You can find out more here professional liability insurance and see if it's for you.
Property insurance is not required by law as a self-employed person, but if you have a certain amount of furniture and equipment for business use, it is relevant to take a closer look.
Your private contents insurance does not cover here.
Whether chattel insurance makes sense for you depends of course on how much furniture and equipment you have and how big a risk you yourself are prepared to bear. But should you be unlucky enough to be hit by a burglary, fire or water damage, property insurance is your best friend.