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Are you an entrepreneur, tradesman or freelancer? Then you often make far-reaching decisions. And these can often have negative consequences and end in a legal dispute. So that you do not have to bear the costs of the legal dispute yourself in such a case, you need commercial legal protection insurance.
Commercial legal protection insurance is also known as commercial legal protection insurance, business legal protection insurance, company legal protection insurance or corporate legal protection insurance. It is one of the most important types of insurance for you. Because it is the only one that protects you from the financial costs of a business legal dispute.
Legal fees
Court fees
Expert fees
Appraiser fees
Witness fees
Mediation costs
Securities (as a loan)
Interpreter fees
Costs of the opposing party, insofar as you are required to reimburse them
Commercial legal protection insurance is the most important commercial insurance for you. A legal dispute can be extremely expensive, especially if it is of a business nature. The costs of such a legal dispute can quickly threaten your existence.
So if you do not want to or cannot cover the costs of a legal dispute yourself, you definitely need company legal protection insurance.
What if you have to take a work-related dispute to court?
It’s good if you have commercial legal protection insurance. Because it protects you and your company from all associated costs. The first step is to get initial legal advice and then try to reach an out-of-court settlement.
If a comparison is made, there are differences in the services provided by the various insurance providers. You should pay attention to this when concluding the insurance contract.
But which risks are covered by commercial legal protection insurance? Among others:
Claims for damages from third parties against you
Disputes before the labor court
Conflicts with the social court
Conflicts with tax authorities
Professional disputes
Administrative disputes
Disciplinary disputes
Administrative offenses
Fine proceedings
Criminal cases
Traffic offenses
The commercial legal protection insurance protects you and your employees in the event of business legal disputes. And not just in Germany, but also on business trips and abroad. Dependent branches of your company abroad are also insured, provided your company headquarters are in Germany.
The insurance covers legal fees, court costs and the costs of mediation, appraisers, experts and witness fees. If a deposit is due, the company legal protection insurance also pays this, but usually in the form of a loan.
The company legal protection insurance also offers free legal advice by telephone. And this is available around the clock. You can ask whether the insurance will take on your case, get an initial legal assessment or advice and also receive help in finding a lawyer.
With various additional modules, you can optimally adapt your commercial legal protection insurance to your needs. The following modules are available to you for this purpose:
Mediation - to avoid litigation
Company contract law - especially for work contracts and service contracts
Employment law - for example for unfair dismissal claims
Real estate law - for example in the case of an excessive rent increase
Commercial traffic law - for example in the case of a traffic accident involving a company car
Extended criminal law - for cases of fraud, insults and more
This important insurance pays out in numerous cases. However, it does not cover:
Conflicts regarding trademark rights
Disputes regarding name rights
Conflicts regarding copyrights
Conflicts arising from speculative transactions
Legal disputes arising from the planning, financing or construction of new construction projects
Disputes relating to securities and the like
Active criminal prosecution
When it comes to the coverage amount, it is extremely important that you adjust it to the possible legal protection risks. Even the smallest dispute can be very expensive in court. If the conflict then drags on through several instances, the costs can quickly amount to a six-figure sum. We therefore recommend a minimum coverage amount of 2 million euros.
The amount of your insurance premium depends on several factors. These include:
The industry in which you work
Your annual turnover
The number of employees
The risk assessment
The services you require
Any additional modules
The coverage amount
Your deductible
We would be happy to advise you comprehensively on this important insurance and calculate your individual contribution.
When choosing your commercial legal protection insurance, you should pay attention to various things so that you don’t experience any unpleasant surprises in the event of a claim.
As a rule, there is a waiting period for company legal protection insurance. Here you must pay attention not only to how long this is, but also to which types of benefits it applies. This is because the waiting period can vary from type of benefit to type of benefit.
You should never set the sum insured too low. After all, it determines the maximum amount that the insurance will pay. If it is too low, you will have to pay for all costs above this yourself.
It is not advantageous to rely on a high deductible just to keep the insurance premium as low as possible. After all, you must actually be able to pay your deductible in the event of a claim.
We strongly recommend that you take out commercial legal protection insurance.
After all, your professional activities involve numerous business relationships. And not just with customers and suppliers, but also with your employees or your commercial property landlord. And unfortunately, a dispute can arise far too easily and get out of hand. Legal proceedings are often the result. And with them, high costs for you.
Protect yourself against these costs with commercial legal protection insurance. Because only this protects you against the costs of business disputes in labor law, traffic law, contract law and real estate law.
We would be happy to help you find the right insurance for you and adapt it optimally to your company and your needs. Of course, we would also be happy to provide you with a non-binding offer.
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