Career & Legal Advice

What insurance cover should you have as a self-employed person?


If you’re self-employed with your own business, you’ll have to make sure yourself that you are properly insured. IDA will help you to find out what insurance you can choose to take out for your business - and which ones are compulsory.

You’re almost certainly in complete control of private insurance policies. You probably have house contents, personal accident, and travel insurance and this saves you a lot of worry. As a self-employed consultant, freelancer or entrepreneur, it’s important that you also have business insurance. Some policies are compulsory by statute and others are voluntary, but important for you and your business if the worst should happen.

Workplace injuries insurance

If you have a business with one or more employees, workplace injuries insurance is required by law. Workplace injuries insurance is statutory for all employers, and covers part-time and full-time employees if they suffer an accident during working hours.

What is a workplace accident?

  • Physical or psychological personal injury
  • The accident has taken place because of work, or the conditions under which the work took place
  • The injury must be either immediate or within five days of the incident

Occupational Disease Insurance

Occupational diseases insurance is also compulsory if you have employees. You can also take insurance out for yourself, but this is not compulsory.

An occupational disease is considered as a disease or condition caused either by work or the conditions under which the work took place. Occupational diseases are not covered via an insurance company, but by registering with Labour Market Insurance (Arbejdsmarkedets Erhvervssikring - AES).

Business Car Insurance and Fire Insurance

If you have a car that you use for work, you will have to take out fully comprehensive motor insurance, and if you run your self-employed business from premises subject to a mortgage or loan, you will also have to have fire insurance.

Read more about Motor Insurance for businesses

Indemnity Insurance

One of the most important insurance policies you should take out if you’re self-employed is professional indemnity insurance, although it is not statutory.

This is particularly relevant if you take on an advisory role for your customers.

Learn about Professional Indemnity Insurance

Business Travel Insurance

If you travel a lot in connection with your work, business travel insurance could also be a good idea. Furthermore, you could also consider taking out contents insurance to cover the furniture and equipment at your workplace.

Read more here

Moveable Property Insurance

You should also consider a moveable property insurance which covers the furniture at your place of work. A moveable cover insurance is part of IDA Forsikring's office insurance.

Find out more

Online Banking Insurance

It might also be a good idea to take out online banking insurance to cover your business bank account(s). Your bank doesn’t cover business accounts, only private accounts.

Learn about Netbank Insurance

Business Health Insurance and Business Interruption Insurance

Finally, you could consider taking out a health policy and business interruption insurance against loss of profits during sickness.

Health insurance will entitle you and your employees to quick advice and medical treatment, and this could mean you avoid long-term illness.

Business interruption insurance ensures financial help, if you or your employees fall ill or suffer an accident which requires a long period of sick leave.

As a member of IDA, you can buy these policies through IDA Insurance. See all Business Insurance policies.

Cyber ​​Insurance

Another important insurance you should consider is cyber insurance. The cyber threat to companies is high regardless of size and industry, and it can be both expensive and time-consuming for your company. With cyber insurance, the company can get advice and cover the financial costs that follow a cyber attack or a data breach in connection with the GDPR.

Read more about Cyber Insurance

Legal counselling at IDA

IDA provides legal advice for the self-employed and freelancers, and for those who are employees and self-employed at the same time. Get legal counselling.