Insurance – the main safety net in entrepreneurship

Entrepreneurship, both traditional and light entrepreneurship, is always full of opportunities - but that comes also with different sorts of risks. When success and freedom are pursued, responsible entrepreneurs can recognise that something surprising can happen along the way. Therefore self assurance is paramount, because you yourself are the most important capital in entrepreneurial activities.

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Insurances are not only an expense, but a necessary investment in yourself and your future as a light entrepreneur

You are the most important

As Palkkaguru secures statutory accident insurance for you, it is also your responsibility to think about your own overall coverage and consider other voluntary insurances.

They allow you to do your job with confidence and safety, knowing, that there is protection in case of unexpected situations.

The meaning and importance of insurance for the future

Insurance is not only mandatory expense item; they are an investment in your own future, financial stability and peace of mind. They act as a safety net that saves you when life throws you unexpected twists and turns.

1. Financial security in unexpected situations:

Illness or accident: For an entrepreneur, sick leave or an accident at work means a direct loss of earnings. Insurances such as statutory accident insurance (which Palkkaguru takes care of for you) and voluntary medical expenses insurance ensure that you can afford treatment and maintain a livelihood even if you are unable to work. This prevents pitfalls that the wage earner does not usually fall into.
Liability for damages: An error may occur in the work or damage to a third party may occur. Liability insurance covers these unexpected compensation claims, which can reach up to hundreds of thousands of euros. Without insurance, the responsibility can fall entirely on your shoulders.
Legal disputes: Few of us want to end up in court, but sometimes disputes are inevitable. Legal protection insurance covers legal and court costs, saving you from huge bills and enabling you to get expert legal help.

2. Peace of mind and stress reduction

Worries are reduced: When you know that the most important risks are covered by insurance, you can fully focus on your work and develop your skills. You don't have to constantly worry about what will happen if you get sick, injured or make a mistake.
Better sleep quality: Having safety nets helps you sleep better knowing that your financial situation wouldn't collapse due to one unfortunate accident.

3. Ensuring business continuity

Insurance helps you recover from setbacks and return to working life as quickly as possible. They enable you to continue your operations even when you face unexpected challenges. Without insurance, even a small setback can threaten the future of your entire entrepreneurial activity.

4. Future planning and secured old age

Although Palkkaguru takes care of the statutory accident insurance and social security payments, it is also important to think about your own pension security and long-term plans. As a small entrepreneur, you can, for example, take out voluntary YEL insurance (entrepreneur's pension insurance), which secures pension and social security (e.g. sickness allowance and parental allowance).