Business liability insurance is compulsory for some professions.
Think of professions such as doctors, architects, etc.
Even if this insurance is not mandatory, it is often desirable.
"With my profession I can cause unintentional high damage, can I be insured for this?"
It is important to take a good look at what the risks are. Then it is easy to determine which coverage limit should be used. It's also important to look at which type of liability applies to your company.
In Spain there are 3 types of business liability insurance:
This general liability insurance is for the regular companies and its staff.
Essential and often mandatory for companies. This covers all employees for damage to third parties. There is a special “Comercio” insurance for offices and small buildings that includes the liability. Please note that this only provides coverage within the 4 walls of the property.
Are you often on the road? Then take out a separate third-party insurance to cover damage to, for example, customers.
Professional third-party insurance is for professions such as Doctors, medical specialists and consultants. But also for professions such as Lawyers, Brokers and Architects. Contact us to find out if a Professional liability is compulsory with your profession.
Liability for Directors and Managers
The liability insurance for Directors and Managers is often desirable at large companies.
If you or one of your managers can cause a lot of damage to third parties due to administrative errors, you are covered with this insurance.
This insurance is also often desirable for companies with multiple branches / properties where the managers are well insured.
In Spain it is very important to state exactly all business activity when taking out this insurance. If damage is caused by an activity that is not on the policy, you have a chance that there is no cover. So pay close attention to this, and have it adjusted when changing / expanding the business activity.
We at IFAR are independent and work with more than 20 leading insurers in Spain.
This allows us to always come up with the best offer. Let us look at your obligations and wishes. Completely free of charge and without obligation.