Many people dream of starting as a self -employed person. Not surprising, because as an independent entrepreneur you enjoy a lot of freedom. This way you determine your working hours yourself, the assignments that you take and your hourly rate. But entrepreneurship also entails risks. If something goes wrong, then you are responsible. Fortunately, you can insure yourself against this, for example with the professional liability insurance (BAV). But what exactly does it cover? And is it wise to take out the insurance in your situation? In this article we will tell you everything you need to know about this insurance.
What is professional liability insurance?
During your work you will of course do your utmost to provide your customers and clients as well as possible. But even if you work carefully, something can always go wrong. One mistake, no matter how small, can have major financial consequences for your client and for you.
A Professional liability insurance for freelancers Protects you against financial damage caused by errors in your work. Think of wrong advice or a calculation error with major consequences. Such a mistake can lead to a claim for damages from your client. The BAV absorbs that damage, including legal costs such as defense and expertise. Even the costs of a disciplinary procedure or criminal proceedings are co -insured.
A practical example: Suppose you develop a webshop as a self -employed person, but because of an error some product prices are too low. As a result, the customer misses out on sales and holds you liable. Then a BAV offers a solution.
Who is a BAV for?
The professional liability insurance is especially relevant, and sometimes even mandatory, for the self -employed who give advice or do substantive work. This includes the following professions:
- ICT people and software developers
- Architects and engineers
- Marketing and communication consultants
- Organizational consultants
- Financial specialists
Do you want to get started in one of the above sectors? Then a BAV is worth considering and sometimes even mandatory from professional and business organizations and/or clients.
For self -employed people with executive or physical professions, professional liability insurance is often less relevant. There you run the risk of material damage and injury rather than financial damage due to a professional error. You will probably have enough of a business liability insurance (AVB).
What is the difference between a professional and business liability insurance?
The professional liability insurance (BAV) and the Business Liability Insurance (AVB) are often confused with each other, but they cover different risks.
As explained above: a BAV insures you against financial damage This is caused by professional errors, such as wrong advice or an error in a design. An AVB covers correctly Material damage and personal injuryFor example, if you accidentally damage a customer or injure someone during your work.
The two insurance policies therefore do not exclude each other. In fact: they complement each other. Especially if you give both substantive advice and work on location, it is wise to close both.
Be informed
Whether you are a starter or have been working independently for years: being well insured gives peace. A professional liability insurance helps you to do your work with confidence, without worries about possible claims. Be well informed about what is needed in your situation. This way you can fully focus on what you are good at.
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