Entrepreneurs

As an entrepreneur or self-employed person, it is important that you can act with peace of mind. That's why it's important for you to have a balanced and, more importantly, complete insurance package for your company and private activities.

Our Commercial & Private Lines department specialises in insurance solutions for companies with between 0 – 50 employees. At Vanbreda, we are at ease working in all markets ranging from ICT consultant start-ups to a business manager in a family firm with 50 employees. We make sure there is tailored guidance for each file.

Your own insurance team comprises an account manager, client manager and claims manager, and ensures that your insurance portfolio is followed up fully.

Which types of insurance do entrepreneurs need?

A number of types of insurance are important for you as an entrepreneur:

Fire insurance: If you own or lease property, fire insurance is indispensable. Protect your premises and contents against fire, glass breakage, and damage from storms, hail, water and snow. If you own a jewellers or an antique shop, or trade valuable products, we advise you supplement this contract with a theft insurance policy.
Car insurance: If you have a car or delivery vehicle in your company’s name, insuring it correctly is a given. Think about protecting not only the vehicle itself, but also its contents.
Professional indemnity: Protect yourself from the consequences of unintentional malpractice at work. Wrong advice, a drawing error or mistranslation happens more easily than you think. This insurance is mandatory for some liberal professionals such as architects and engineers. For other activities, like business or IT consulting, it is strongly advised.
Director’s liability: As an executive, manager or director, your risk of being individually prosecuted is greater. The director’s liability policy covers the director’s civil liability as a consequence of claims relating to financial loss. Without cover, a director may be obligated to pay costs from their own resources.
Accident-at-work insurance: Even if you only employ one or two people, you have to protect them from the consequences of accidents at, or while travelling to and from, work. This is a legal obligation.

Entrepreneurs and Pensions

As a self-employed entrepreneur, you will receive a minimum pension from the government. In many instances, this is not enough to maintain a normal standard of living. Together with the tax incentives of supplementary pension schemes such as PLCI/VAPZ and EIP/IPT, entrepreneurs can look forward to a decent pension.

PLCI/VAPZ: The optional supplementary pension for the self-employed is a private pension plan that offers considerable tax incentives to the self-employed. Premiums paid can be deducted from social security contributions. The premium reduces your taxable professional income, which results in taxes at the marginal rate. The reduction of your professional income also means that you will pay less in social contributions.
EIP/IPT: An Individual Pension Policy is a tax-friendly form of company pension savings. As a business manager or director, you are the direct beneficiary of a company’s insurance policy that is tailored to your needs. You can determine the capital level yourself according to the 80% tax rule.

Would you like to know more?

Whether you’re setting out as a self-employed person or a seasoned entrepreneur who wants to compare your insurance portfolio, fill out your details and we’ll get in touch as soon as we can.

If you’d like to contact us straight away, call us on +32 (0)3 217 67 53 or email cpl@vanbreda.be.

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