Opening a Business

We Have You Covered! 

Here are the Initial Insurance Steps to Take When Opening a Business in Israel

You’re opening your own business? B’hatzlacha!

It’s an exciting time. You’re opening up new possibilities for financial independence and stability. This may be an opportunity for you to finally have a job you love. At the same time, you’re preparing for some inevitable risk as well as potential instability until your business lands on firm financial footing. 

One of the critical pieces to make sure you have in place is the right insurance coverage for you, your employees, and your business. Although you’ve likely dealt with personal insurance policies before, dealing with insurance as a business owner is different. 

We’ve been there.

49 years ago (!), we were also a fledgling business. We’ve come a long way since then, but we haven’t forgotten our roots. There are so many things to be on top of when you’re founding a business. The more knowledge, support and guidance you have, the better the experience is. 

To make sure you have all the information and resources you need, below is a mini-guide to the insurance coverage you need to have in place when opening a business in Israel: what the options are, what you need to take care of, and what you should be aware of.

Please Contact Me About New Business-Related Insurance Options

Business Insurance

Your business is likely reliant on some physical equipment or materials, even if you’re a one-person show working out of a home office. Replacing that equipment in the case of damage would be a heavy financial burden on your business. If you sell products, damage or theft can take an even bigger financial toll. Business insurance can provide coverage for all the materials that support your business – from your computers and phones, to specialized professional equipment, to the stock in your warehouse (or closet). 

Find out about the different protection levels that business insurance offers your business.

Liability Insurance

When you own a business, you’re often held accountable for damage caused by your products, services or employees even if you weren’t negligent! Liability insurance can cover you for employee or client injury, damage resulting from professional mistakes and more – preventing a financial blow that could cripple a fledgling business.

Find out more about what you need in Israeli business liability insurance. 

Pension for Atzmaim

Does your new enterprise give you the official status of Atzmai (independent contractor)? Until 2017, what Atzmaim did or did not do about a future pension was their own business. As of 2017, however, the government obligated Atzmaim to set up a pension plan with regular contributions. If you haven’t set one up yet, now is the time to do so.

Find out about mandatory pension plans and contribution levels for Atzmaim.

Employees’ Social Benefits

If you’ve had experience as an employee, you know that the Israeli government mandates employers to provide certain social benefits for their employees, including, but not limited to, pension plans. If you’re now on the other side of the table, you’ll need to set up all the social benefits for your employees in compliance with government regulations. 

Find out more about the social benefits you need to provide to employees.

 

We at Goldfus Insurance – we’re business owners too. We’ve been there and done that and know what you’re going through. We’d be happy to talk you through (in English, Hebrew or Hebrish) what you and your new business need.

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