Cost insurance

Why is an operating cost insurance useful?

Self-employed and freelancers always have a possible illness or worse injury on their backs, especially if they can not work and escape important sales. Because the operating costs continue to run regardless.

This risk can be hedged with an operating cost insurance. It is sometimes referred to as company cost insurance. With such insurance, being incapacitated does not immediately jeopardize the professional existence or financial status of freelancers and the self-employed if the business activity is personal and the company would not work without it. An operating cost insurance is therefore particularly useful for members of, for example, the following professional groups in the areas of service, advice and medicine:

Dental, human and veterinary physicians and pharmacists
Architects
Graphic artist and designer
estate agents
Appraiser and expert
Physiotherapists, non-medical practitioners and physiotherapists
speech therapists
Notaries and lawyers
Accountants and auditors
Psychologists and psychotherapists
translator

In summary, it can be said that, in particular, those who benefit from an operating cost insurance, who:

mainly a freelance activity
to employ as a self-employed employee
need technical equipment and suitable premises for their activities
perform a personal activity or work

Which benefits, dangers and damages are covered by an operating cost insurance?

With an operating cost insurance, the insured is protected against the far-reaching economic consequences. For example, the insurance will take effect if the insured:

Patients can not advise
Clients can not represent
Clients can not advise

Which costs will be covered by an operating cost insurance in case of damage?

If the insured person becomes incapacitated for work, the occupational cost insurance replaces:

operating costs that can not be earned: for example, rent for business premises (office, practice or office), ancillary costs for these premises (basic energy, water costs), interest, equipment leasing fees, depreciation of property, plant and equipment, wages and salaries and social benefits for employees – depending on the insurer, there are different regulations, which is covered by the insurance
Wage or salary and social benefits for a deployed, external replacement force – so that ongoing orders can be processed and thus remain the customer base and competitiveness

These are granted after a certain waiting period and only for a certain period of time, usually for twelve months. However, the duration may be extended to two years or individually if there is a medically necessary late care.

The insurance company will continue to cover the running costs for a contractually agreed period (usually two months) if the insured gives up his business due to an occupational disability due to the incapacity to work or if he dies. In the case of an operating task, the insurance also replaces (proportionally, usually at 15% of the sum insured) the costs incurred for the dissolution of the company. These include, in particular, the costs for notaries, brokers and appraisers.

Which costs are not covered by an operating cost insurance in case of damage?

With an operating cost insurance, the insured person does not receive his net income, ie his own salary, if he or she becomes unable to work due to illness or injury. There is the sickness allowance insurance. It covers the financial burdens that arise from the normal cost of living.

If the insured also becomes disabled as a result of the incapacity to work, the insurance pays the costs of closing the company, but does not pay any occupational disability pension. For this there are occupational disability insurance, which must be specially completed.

What depends on the contribution and what factors influence the contribution rate?

The contributions to the operating cost insurance are calculated from the operating costs, which are achieved on average. The contractually agreed period of insurance coverage also affects the contribution rate.

Can the contributions to the operating costs insurance be deducted from the tax?

Many have argued about it – even judicially – whether the contributions to the operating costs insurance can be deducted from the tax or not.

In 2008, a ruling was issued at the Baden-Wuerttemberg Financial Court, according to which the reason for the insured event (business interruption) had to be rectified.

This means the following:

If the operating cost insurance is taken out to insure against occupational diseases, the insurance premiums are considered ordinary business expenses. They can therefore be deducted from the tax.
On the other hand, if the insurance is taken out in order to hedge the health risk in general, the insured risk lies in the private and thus in the external area. The contributions to the operating cost insurance can not be taxed in this case.

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