Starting a Business in Berlin

80 81 Starting a Business in Berlin A Beginner’s Guide BUSINESS INSURANCE Depending on the individual circumstances of the business, it may be advisable to consider other types of insurance that are not listed here. As a general principle, you should obtain and compare several quotes before purchasing cover. Employer’s liability insurance Employer’s liability insurance covers loss or damage to peo- ple and property and consequential pecuniary loss caused by the workplace, the entrepreneur or his staff as a result of business activities. Extended product liability insurance is additional cover within employer’s liability insurance. This is required in particular by the manufacturers or quasi-manu- facturers of raw or intermediate products. (Quasi-manufactu- rers are sellers who attach their own name or trademark to a product, thereby creating the impression that they are the actual manufacturer.) Buildings and property insurance You can insure your business’s fixed and current assets against loss or damage by taking out fire, water, storm, glass breakage and burglary insurance. you if you have an accident at work. It may make sense to purchase private accident insurance as either an alternative or complement to the DGUV, especially if you do not have any disability insurance. Voluntary unemployment insurance Entrepreneurs are not obliged to insure themselves against unemployment. Since 1/2/2006, however, the self-employed have been able to apply to the Federal Employment Agency to continue to make voluntary contributions to the unem- ployment insurance scheme. The following conditions must be met: the applicant’s work must take up at least fifteen hours per week, and he must have been employed in a job with statutory social insurance for at least twelve out of the 24 months immediately preceding his self-employment. The application must be submitted no later than three months after he takes up self-employment. Pension fund for craftsmen and tradesmen If you wish to ensure that you and your family receive your full pension entitlement in old age, it is important to start topping up your contributions as early as possible to meet your future needs. As a self-employed craftsman or tra- desman, you have the opportunity to insure yourself and your family through the above pension fund at particularly favourable rates. German Statutory Accident Insurance  dguv.de/en German Unemployment Agency  arbeitsagentur.de/en CHAPTER 7