Insurances back you up when unexpected costs occur and help minimalize risks. If you chose the right insurances they will prevent you from going bankrupt.
Insurances cover you from risks and potential damages. There are two types of insurances; mandatory and optional insurances.
AXA Winterthur, a close partner of STARTUPS.CH, offers all types of insurances to special conditions.
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Mandatory insurances (as soon as you pay yourself a salary)
The occupational pension is the second pillar in the Swiss three-pillar-strategy. If you are an employee of your own company and receive a salary, you can build up your occupational pension.
Accident insurances are compulsory for every employee in Switzerland. If you are an employee of your own company and receive a salary you need to take out an accident insurance via your firm. The same goes for all your employees.
Property insurance protects you in case of damage. The insurance pays for material loss, loss of income and clearance, disposal and any additional costs.
Defence insurance protects you in case of a conflict with your landlord, if your insurance does not pay as contractually agreed or the opposing party in an accident denies any claims. This insurance provides broad protection and can be adjusted to the risks of your firm.
Product liability takes over any justified claims against your firm and fends off those that are unjustified. There are four different risks to be distinguished:
- Property risks: As owner of estates, buildings and construction sites you are liable to everything that happens on your property.
- Operational and occupational risks: As contractor you are liable to your own activities and those of your employees.
- Product risks: As producer you are liable to your product, from the assembly to the point of the consumer’s use.
- Environmental risks: As proprietor of a business you are liable to any damages to the environment by your establishment.
Motor Vehicle Insurance
This insurance covers damages caused by company vehicles.
Per Diem Sickness Indemnity
This is a common insurance that pays for any employees that are on sick leave. Due to the Swiss Code of Obligations, the employer is obliged to pay his employees between three and six weeks of their salary in case of illness. Therefore, this insurance can be of great financial assistance.
The professional indemnity backs you up if your client is damaged due to your own or your employee’s consultation.
As with your contracts, when taking out an insurance it is important to consider your individual necessities (e.g. amount of coverage).