Company Civil Liability Insurance: all you need to know in 3 questions!
As a professional, you can cause damage and injury to third parties and it is important to take out liability insurance that is adapted to the specific risks of the company.
Why take out Civil Liability insurance?
By law, you are required to repair any material damage, bodily injury and consequential damage caused to a third party. Every business must take out an insurance policy in order to get a coverage that protects it as well as possible.
What are the types of liability insurance?
There are several types of civil liability:
Employer's liability insurance: covers claims related to bodily injury suffered by employees as a result of an industrial accident for which the company is responsible.
Product liability insurance: covers claims related to damage caused to a third party by the product manufactured and / or supplied by the company.
Business liability insurance: covers claims related to material or bodily damage and indirect damage caused to third parties in the context of the insured activity. To learn more about this insurance read the following article.
Rental liability insurance: covers the tenant against any consequence of a fire / explosion or water damage.
Professional Liability Insurance: covers the liability of a company following errors, omissions or negligence in the performance of professional activity which causes economic or material damage to a third party. To learn more about this insurance read the following article.
Liability insurance for directors and officers (D&O): covers and protects the personal assets of directors and officers of a company or association against claims they receive as a result of damage caused to the company, shareholders or to third parties resulting from management errors. For more information about this insurance read the following article.
How much does civil liability insurance cost?
Insurance coverage and costs vary depending on the activity you want to insure.
LIBERTY Offer ( until 26/05/2021) :
- Corte inglés gift card of 30€ for any insurance with a minimum premium of 200 euros, 60€ if premium over 400€/year and 100€ if premium over 600€/year.
If you do not have Civil Liability insurance, do not hesitate to ask us for a comparison of the best insurance here
Inov Expat : Who are we?
INOV Expat is an insurance brokerage firm aimed at expatriates in Spain and Portugal
INOV Expat is right there to help you: giving you the best advice on insurance, in English!
In fact, after 14 years, INOV Expat, an insurance brokerage firm, specialises in insurance for expatriates in Spain and Portugal, at their destinations. As insurance professionals, we’ve signed partnership agreements with the best insurance companies in the market. All INOV Expat consultants are expatriates who will be able to advise you best in the language of your choice (English, French, Russian, Spanish, Portuguese…)
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