Business Insurance for the Self-Employed in Norway – FORSIKRING FOR SELVSTENDIG NÆRINGSDRIVENDE – is an essential safeguard for your health, assets and income. Although it may seem like an extra cost, the right cover protects you against many unforeseen events.
Before deciding, clarify your needs and resolve any uncertainties. A good insurance adviser in Norway will help you choose the appropriate scope. Below are answers to the 10 questions we are asked most often—use them to make a well-informed choice.
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What does self-employed insurance cover?
It depends on your business profile and risks. Common elements include:
– BEDRIFTSANSVARSFORSIKRING (public/employers’ liability),
– Business and Office Insurance,
– Comprehensive Company Packages.
Example: cleaning at clients’ premises or handyman work typically requires liability cover to protect against third-party damage.
What risks are specific to my activity?
Construction and repair work carry higher injury risk—consider:
– YRKESSKADE (personal accident/work injury),
– BEDRIFTSANSVARSFORSIKRING (liability).
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In consulting, IT or advisory services, professional liability can be crucial. A tailored risk review is the basis of good protection.
What if I must temporarily stop working?
Loss of income due to illness or accident can be partly covered by:
– SYKEAVBRUDDSFORSIKRING (loss-of-income insurance), and/or
– voluntary health/accident cover via NAV for the self-employed (FORSIKRING FOR SELVSTENDIG NÆRINGSDRIVENDE).
What level of cover do I need?
Set sums insured so you can maintain your living standard after a claim. If you have employees or financial commitments, consider SYKEAVBRUDDSFORSIKRING to replace income when you cannot work.
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What is the difference between Business Liability and Personal Accident Insurance?
– BEDRIFTSANSVARSFORSIKRING protects you if you cause loss or injury to others in the course of business.
– YRKESSKADE FOR SELVSTENDIG NÆRINGSDRIVENDE (voluntary) protects you if an accident affects your ability to work.
They are complementary and often both needed.
How are claims paid?
Payouts depend on policy terms, limits and the EGENANDEL (excess/deductible) you pay per claim. Review sums insured, sub-limits and exclusions carefully before you sign.
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Are there dedicated policies for business property?
Yes—consider:
– EIERANDEL / BEDRIFTSLØSØRE for equipment, stock and tools,
– KJØRETØYFORSIKRING for business vehicles and machinery,
plus cover for theft, fire, water damage and business interruption (loss of profit). This is vital if your work depends on your kit.
Does cover include legal assistance?
Many packages include ADVOKATFORSIKRING (legal expenses). In disputes with clients, suppliers or partners, you can access legal advice and have litigation costs covered.
Is the premium tax-deductible?
In most cases, business-related insurance premiums are deductible expenses. Consult a tax adviser to confirm how to apply the deduction in your situation.
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Voluntary defined-contribution pension (OTP equivalent) for the self-employed
The self-employed do not have mandatory OTP – OBLIGATORISK TJENESTEPENSJON, but you can establish a voluntary scheme and save with tax relief.
How it works:
– You set up and fund a voluntary DC pension similar to OTP.
– Contribution limit: up to 7% of your personal business income up to 12G (about NOK 1,488,336; G is adjusted annually).
– Tax relief: contributions and plan costs are deductible from business income.
– Investing: via an EGEN PENSJONSKONTO (EPK) you choose how to invest—profiles, funds or shares—to match your age, plans and risk tolerance.
– Withdrawal: benefits can start from age 62; the minimum payout period is set by the provider.
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– Add-ons: disability pension options and transfers of earlier pension savings.
– Optional but valuable: strong tax advantages and better long-term security.
Who benefits most? Everyone self-employed, especially with higher income—above 7.1G (c. NOK 880,599) the tax and future-benefit gains are greatest. With income below 7.1G, consider alternatives such as IKS/IPS or individual investment accounts.
If you would like to speak with Highly Experienced, Authorised Insurance Advisers in Norway, contact us—we will help you select solutions suited to your situation and line of business.
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A voluntary pension for the self-employed gives you a tax shield today and higher benefits tomorrow. The best results come from saving a steady percentage (e.g., 5–7%) and actively managing investments through your EPK.
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