A woman wearing protective goggles and protective gloves works at a workbench.

Insurances

Risks are inherent in every business start-up and they can vary from one industry to another. Not only do you need to take care of your own provision and that of your employees, you also need to protect yourself against operational damage or loss and against third parties.

Identify your risk factors and obtain information about costs, terms and conditions by seeking help from external advisers (insurance brokers, consumer advice centres). Ensure you have insurance cover in place at an early stage.

Some private and business insurances are mandatory and must be taken out without fail.

Key insurance cover for self-employed people

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    Health insurance schemes

    Health insurance is compulsory in Germany. Self-employed people can decide whether to insure themselves privately or whether they will remain voluntary holders of statutory health insurance.

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    Pension schemes

    For certain professional categories, membership of the statutory pension scheme is mandatory; for everyone else it is voluntary. Freelance artists and publicists are insured by the artists’ social insurance (KSK) for pension, health and nursing care.

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    Inability to work

    The inability to work insurance covers the subsistence of people starting their own business in the event that they become restricted in their ability to do their job or can no longer practise their profession as a result of accident or illness.

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    Public liability

    Public liability insurance is essential to protect yourself against potential damage claims from third parties (employees, customers, suppliers or visitors) if the damage was caused by your business.

The following insurances are not necessarily compulsory in all cases, although they are recommended:

  • Accident insurance (if you have employees)
  •  Unemployment insurance
  • Business interruption insurance
  • Legal protection insurance

There are also a number of other forms of business insurance that cover risks such as burglary, electronics, machines, product liability or fire. You need to think carefully about which of these insurances are appropriate for your business.