Business insurance

Business insurances cover risks that you run as a result of having a company. In the Netherlands, you are not obliged to insure against these risks. However, some insurances are compulsory.

Compulsory insurances

You must have these insurances:

• Third party car insurance (according to the Dutch Motor Insurance Liability Act, WAM) if you use and/or own motor vehicles
• Buildings insurance (opstalverzekering) if you own a commercial building or other immovable property (your mortgage lender requires this insurance)
• Professional indemnity insurance (Beroepsaansprakelijksheidsverzekering, BAV) or business liability insurance (Bedrijfsaansprakelijkheidsverzekering, AVB) for some professions (required by the professional association)

Voluntary insurances

You can insure voluntarily for professional risks, for instance:

• disability insurance
• business interruption insurance
• export credit insurance
• goods-in-transit insurance
• loss-of-income insurance
• machinery and equipment insurance
• credit insurance
• business legal expenses insurance
• sick leave insurance
• cyber insurance

Closing down your business

If you close down your business, you need to decide whether you have to cancel all or some of your (business) insurances.