• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Submissions
  • About Us
  • Contact Us
  • May 16, 2022
  • Startup
    • Creating a Plan
    • Funding a Startup
    • Franchise Center
    • Getting Your Office Ready
    • Making Your Business Official
    • Marketing Your New Business
    • Personal Readiness
  • Run & Grow
    • Customer Service
    • Human Resources
    • Innovation
    • Legal
    • Operations
    • Risk Management
  • Leadership
    • Best Practices
    • Communication
    • Green Initiatives
    • Open Culture
    • Strategic Planning
    • People Skills
  • Sales & Marketing
    • Advertising and Lead Generation
    • Marketing Innovations
    • Marketing Plans
    • Online Marketing
    • Relationships
    • Sales Activities
  • Finance
    • Budgeting and Personal Finance
    • Payments and Collections
    • Tax and Accounting
    • Pricing Strategy
    • Working with Investors
    • Working with Lenders
  • Tech
    • eCommerce
    • Hardware
    • Software
    • Security
    • Tech Reviews
    • Telecom
  • Shop

SmallBizClub

Helping You Succeed

Home / Finance / Insurance / Don’t Neglect Injury Insurance for Entrepreneurs, Especially if You’re Solo
Don’t Neglect Injury Insurance for Entrepreneurs, Especially if You’re Solo

Don’t Neglect Injury Insurance for Entrepreneurs, Especially if You’re Solo

646 Views

Mar 3, 2021 By Marinus Nutma

Congratulations, you’ve started your own company. As an entrepreneur, the company is all about you. You are invaluable, but also vulnerable. If you drop out, this will have major consequences for your company, but also for you personally. 

This is why you need to consider the possibilities of insuring yourself against incapacity for work after an accident. Where are you entitled to all your damage, for example after a traffic accident or industrial accident (Dutch: bedrijfsongeval)?

Disability insurance 

Especially if you do not have staff who can take over the work for you, such as with a freelancer, it is important to take out proper insurance against incapacity for work. But this also applies if you are a director, or major shareholder of a small, medium or even large company. 

There are many types of disability insurances. Some insurance policies pay out a fixed insured amount per year in the event of disability. You can then agree on the sum insured with the insurer. It is then important to periodically check whether the amount still covers damage. Otherwise, you can be left with loss of income. There are also insurance policies that reimburse a percentage of your income without an accident. Often there is not complete coverage. 

Incapacity for work due to an accident 

You travel a lot for your company, but you are also working on the shop floor. If you then have an accident, you could end up with damage. Damage after an accident is called personal injury. 

Suppose you have a car accident because you were hit by another car in your car. If you are injured in the process, you will suffer injury. If someone else is liable, he or she must compensate for your personal injury. Cars are compulsorily insured in some countries. As a rule, every motor vehicle is also insured against liability. This insurer will then pay for your personal injury. 

Insurers employ lawyers to handle your personal injury case. Because you yourself do not have the knowledge about recovering personal injury claims, in a number of countries you are entitled to a free personal injury lawyer (Dutch: letselschade advocaat). 

In the Netherlands, for example, but alson among other countries, there is a right to a free personal injury lawyer after an accident. So if you happen to a traffic accident in Utrecht, you are entitled to a personal injury lawyer in Utrecht (Dutch: letselschade advocaat Utrecht).

In the Netherlands you are entitled to a free personal injury lawyer if you have been in a traffic accident and at least 1 motor vehicle is involved. You don’t have to drive a car or ride a scooter to be eligible for a free personal injury attorney. Even if you are hit by a car or motorcycle on a bicycle, you are entitled to a free personal injury lawyer! 

Passenger damage insurance 

There is of course no liable party in the event of a unilateral traffic accident. But as an entrepreneur you can suffer personal injury in a unilateral traffic accident. Fortunately, you can overcome this damage by taking out passenger damage insurance. This insurance pays out damage without the need for liability. 

For a self-employed person, taking out passenger damage insurance is of great importance. After all, if you get into an accident with damage, you will be left with damage without this insurance. Unless you have occupational disability insurance, of course. You can also appeal to this. However, damage passenger insurance pays for all your damage, not just your loss of income. And with a damage passenger insurance the actual loss of income (up to the insured amount) is paid. This is often not the case with disability insurance. 

Are you an entrepreneur? Then take a good look at which insurance policies you need to insure yourself against loss of income!

Filed Under: Insurance Tagged With: Disability Insurance, Personal Injury

Marinus Nutma

Marinus Nutma

Marinus Nutma has been helping brands & retailers build 8-figure eCommerce businesses since 2001. eCommerce is not just his expertise, eCommerce is his passion.

Related Posts

  • What to Do if Your Business Gets Sued
  • is-your-office-an-injury-waiting-to-happen-Filing a Personal Injury Claim from Work

Primary Sidebar

From the Editor’s Desk…

Small Biz Gems

“Nothing great was ever achieved without enthusiasm.” —Ralph Waldo Emerson
A lecturer, poet, and essayist, Ralph Waldo Emerson was the leading voice of the New England Transcendentalist movement of the mid-19th century, which valued insight over logic while also advocating for humanity’s inherent goodness. This revelation comes from the closing paragraph of “Circles,” a chapter in his 1841 book Essays, First Series.

“I insist on a lot of time being spent, almost every day, to just sit and think. I read and think. So I do more reading and thinking, and make less impulse decisions than most people in business.”  —Warren Buffet

 

“I have not failed. I’ve just found 10,000 ways that won’t work.”  —Thomas Edison

 

 

“You can’t ask customers what they want and then try to give that to them. By the time you get it built, they’ll want something new.”  —Steve Jobs

  • Facebook
  • LinkedIn
  • RSS
  • Twitter
Subscribe to our Mailing List

Run & Grow

Business Continuity: Everything You Need to Know

May 14, 2022 By SmallBizClub

 Learning Strategies to Help Your Employees Get Hooked

May 13, 2022 By Becky Wilson

Top Trends for Small Businesses This Summer

May 11, 2022 By Becky Wilson

Here’s What To Do If Your Small Business Is Tanking

May 10, 2022 By Jeremy Bowler

Footer

About Us

Small Biz Club is the premier destination for small business owners and entrepreneurs. To succeed in business, you have to constantly learn about new things, evaluate what you’re doing, and look for ways to improve—that’s what we’re here to help you do.

  • Facebook
  • LinkedIn
  • RSS
  • Twitter

Copyright © 2022 by Tarkenton Institute, Inc. All Rights Reserved | Terms | Privacy