Mandatory insurance in the company: A good point to save expenses
Posted: Wed Dec 18, 2024 5:41 am
We tell you what some of the mandatory insurance policies are for companies and how to save on your expenses.
Insurance helps protect assets, employees and third parties involved in business operations.
They also depend on the sector of activity, the type of coverage insured and the volume of business.
Mandatory insurance is a fundamental part of business management . It helps protect assets, employees and third parties involved in business operations. While czech republic email list complying with legal requirements is essential, it is also possible to find ways to save on expenses on these insurances without compromising the integrity of the company.
Start of marked textTWEET IT! Save on mandatory insurance for your company and protect assets and employees. Find out what insurance is required, assess your needs and save on premiums. The security of your business is a priority!End of marked text
Thus, within the most significant expenditure items that any company has, we find the block of mandatory insurance . There are a series of coverages to be insured, marked by the current law itself , for the sake of legal security and stability of commercial traffic.
These insurance policies have a significant cost and depend fundamentally on these factors to assess their economic impact:
Sector of activity and type of coverage insured.
Ownership of vehicles or other assets that must be insured.
Turnover.
Number of workers.
In most companies, the cost of these insurances is not foreseen in sufficient time. Nor are savings systems usually implemented to minimise their impact on the bottom line.
Boost your business' financial health and save on costs with our invoicing software . You'll control your finances easily and effectively, ensuring solid growth. Join now!
What are the mandatory insurance policies in the company?
Within this section we can list the mandatory insurance policies :
Civil Liability Insurance .
Insurance for workers established by the collective agreement.
Insurance for company-owned vehicles .
Fire insurance .
Civil liability insurance will cover civil damages caused by our company in the development of commercial or professional activity. For example, an accident involving a client in our facilities or in a professional job, in the case of lawyers, economists or consultants.
In certain cases it is not mandatory, but it is one of the most recommended insurances to take out. For example:
If any type of negligence or significant damage has been committed during the development of the activity , the economic cost of repairing that damage must be borne directly.
It may happen that a large financial problem sends the company into bankruptcy. In this case, it will ruin the entrepreneur if he does not have this coverage.
Employee insurance is personal insurance for the workforce, which is established in the various collective agreements. These insurance policies usually cover compensation for accidents, permanent disability and death.
The amount of compensation covered is set by the collective agreements themselves. The cost of the premium will be directly linked to the economic compensation paid to the workers. It will also depend on the number of employees we have and the branch of activity that the company carries out.
Finally, some municipalities or autonomous communities may require companies to take out fire insurance in order to protect their facilities and assets in the event of fire-related incidents.
Some keys to making insurance cheaper
Taking out insurance is a responsibility, but without spending too much . You can follow effective strategies to reduce the cost of insurance without compromising protection:
Compare and negotiate: Compare insurance companies and quotes. Negotiate without fear, they may offer lower rates. Explore all available options.
Evaluate your real needs : Understand legal requirements and avoid unnecessary coverage. Review and adjust your policies.
Maintain a good safety record: Claim-free record = low premiums. Promote safety policies: training, measures and a strong culture.
Establish a risk management program: Conduct a thorough risk assessment to identify the highest risk areas in your business. Then, develop and implement appropriate risk mitigation measures .
Insurance helps protect assets, employees and third parties involved in business operations.
They also depend on the sector of activity, the type of coverage insured and the volume of business.
Mandatory insurance is a fundamental part of business management . It helps protect assets, employees and third parties involved in business operations. While czech republic email list complying with legal requirements is essential, it is also possible to find ways to save on expenses on these insurances without compromising the integrity of the company.
Start of marked textTWEET IT! Save on mandatory insurance for your company and protect assets and employees. Find out what insurance is required, assess your needs and save on premiums. The security of your business is a priority!End of marked text
Thus, within the most significant expenditure items that any company has, we find the block of mandatory insurance . There are a series of coverages to be insured, marked by the current law itself , for the sake of legal security and stability of commercial traffic.
These insurance policies have a significant cost and depend fundamentally on these factors to assess their economic impact:
Sector of activity and type of coverage insured.
Ownership of vehicles or other assets that must be insured.
Turnover.
Number of workers.
In most companies, the cost of these insurances is not foreseen in sufficient time. Nor are savings systems usually implemented to minimise their impact on the bottom line.
Boost your business' financial health and save on costs with our invoicing software . You'll control your finances easily and effectively, ensuring solid growth. Join now!
What are the mandatory insurance policies in the company?
Within this section we can list the mandatory insurance policies :
Civil Liability Insurance .
Insurance for workers established by the collective agreement.
Insurance for company-owned vehicles .
Fire insurance .
Civil liability insurance will cover civil damages caused by our company in the development of commercial or professional activity. For example, an accident involving a client in our facilities or in a professional job, in the case of lawyers, economists or consultants.
In certain cases it is not mandatory, but it is one of the most recommended insurances to take out. For example:
If any type of negligence or significant damage has been committed during the development of the activity , the economic cost of repairing that damage must be borne directly.
It may happen that a large financial problem sends the company into bankruptcy. In this case, it will ruin the entrepreneur if he does not have this coverage.
Employee insurance is personal insurance for the workforce, which is established in the various collective agreements. These insurance policies usually cover compensation for accidents, permanent disability and death.
The amount of compensation covered is set by the collective agreements themselves. The cost of the premium will be directly linked to the economic compensation paid to the workers. It will also depend on the number of employees we have and the branch of activity that the company carries out.
Finally, some municipalities or autonomous communities may require companies to take out fire insurance in order to protect their facilities and assets in the event of fire-related incidents.
Some keys to making insurance cheaper
Taking out insurance is a responsibility, but without spending too much . You can follow effective strategies to reduce the cost of insurance without compromising protection:
Compare and negotiate: Compare insurance companies and quotes. Negotiate without fear, they may offer lower rates. Explore all available options.
Evaluate your real needs : Understand legal requirements and avoid unnecessary coverage. Review and adjust your policies.
Maintain a good safety record: Claim-free record = low premiums. Promote safety policies: training, measures and a strong culture.
Establish a risk management program: Conduct a thorough risk assessment to identify the highest risk areas in your business. Then, develop and implement appropriate risk mitigation measures .