In this section we are going to discuss which is the compulsory insurance that the American law establishes for certain activities both professional and lucrative. Without these insurance the company, entity or particular in question can be sanctioned and even disabled.
Compulsory insurance only for companies
Planned pension insurance
- This type of insurance guarantees that the payment of the planned pensions will be fulfilled is in charge of the company and in favor of its workers.
Insurance of agreements
- This insurance is obtained to cover those assumptions that are included in the agreement and occur during working hours and in the position of the worker. Not every entity that hires an employee is required to purchase this insurance, depending on whether the agreement will be mandatory or voluntary.
Travel Insurance
- In this section you have to differentiate between the two types of insurance since there is a mandatory and a voluntary one. Voluntary insurance would be one that increases the price of the ticket (whether bus, plane, train …), this insurance can be cancellation, assistance or luggage. On the other hand, compulsory insurance enters the price of all previous tickets and covers in case the vehicle in question has an accident.
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10 year insurance
- This insurance is created to compensate for the future material damages that could appear in the buildings or floors constructed by the promoter. The insurance will cover the requirements of safety and structural stability (such as property damage, building defects …).
Federation sports insurance
- This insurance protects those athletes who are subscribed in american sports federations and participate in national competitions, ensuring them in case of suffering an injury or accident during the exercise. The insured sportsman must be taken care of in those health centers that have established in the contract of insurance, if he went to a health center that was not within the contract, it would be the athlete himself who would have to pay the amount of the medical attention.
- Safe drug clinical trial This insurance covers the civil liability that the promoter, researcher, collaborators and health center obtains for the clinical trials with medicines. It will only cover in those centers mentioned in the contract.
Environmental liability insurance
- Insurance with the necessary cover to meet the responsibilities that may be required for unforeseen damage to the environment. This insurance is usually purchased by companies that work in a natural environment such as oil.
School transport insurance for minors
- This insurance must be contracted for those vehicles that are dedicated to the school transport of minors of sixteen years. This compulsory insurance can be obtained by adding some features to motor vehicle insurance.
Insurance for lifts.
- This insurance must be contracted by the companies or owners of elevators, to cover in case of damage or accident for the provision of the service. In case of a serious accident the insurance would be responsible for compensating the injured party, leaving the owner of the lift free of charges and expenses, as long as the elevator has all the checks in order. Compensation is usually the most common way to resolve an accident due to a breakdown or a power outage.
Insurance for bankruptcy administrators
- Insolvency administrators will not be able to accept their appointment without proving that they have this insurance in force, which covers the damages caused to the active mass of the contest, to the interests of the creditor, debtor and third parties. This insurance must be maintained throughout the insolvency proceedings.
Insurance for homeowners
- This insurance guarantees the refund of the amounts paid in advance in case of breach of contract (the house is delivered in conditions that were not agreed, the works have not started or finished according to the date established in the contract …).
Accident insurance for the exercise of various activities
- This insurance covers activities that take place during free time in which people under than 18 participate (such as leisure activities, adventure tourism activities, sports competitions).
Compulsory sports insurance in the practice of school sports games
- This insurance will cover any damage that may be suffered by the school as long as it is during a sports game and on the school grounds.
Insurance for damages caused to third parties by sports professionals
- This insurance covers sports professionals such as physical education teachers, sports monitors…
Mandatory insurance for companies and individuals
Motor vehicle insurance
- This insurance covers damages caused by traffic with a motor vehicle (car, moped …), so anyone riding with this type of vehicle must secure it. The price of insurance will vary for the following reasons:
- Depending on whether you opt for insurance to third parties or one to all risks.
- Vehicle age.
- The experience of the usual driver and the occasional driver.
- The contracted services (such as the assistance service in roads, legal defense, claims of races, breaking of windshields and moons …)
- Power of the vehicle.
Home Insurance
- The one that subscribes a mortgage loan will be forced to contract a insurance of damages, by an amount equal to the value of reconstruction of the property. Covers damages caused by (fire, water damage …) established in the insurance contract. The price of this type of insurance varies depending on:
- Use of housing (usual residence, secondary residence)
- Whether or not you have professional activity housing.
- Type of construction
- Year of construction
- Location of the dwelling (urban nucleus, non-urban nucleus or depopulated)
- The type of house (floor, attic, single family home …)
Hunting insurance
- Those who practice hunting are obliged to take out insurance to cover the damages caused by this exercise. Depending on the location where the exercise will take place, it will have a price or another, the price of insurance will also depend on the age of the insured, the weapon used and the type of license.
Dangerous pet insurance.
- A person who is in possession of an animal that can act aggressively putting the life or physical integrity of persons at risk, is required to obtain this insurance. This insurance includes both wild animals and PPP (potentially dangerous dogs).
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Boat insurance
Persons holding a motor-powered recreational or sports boat (including nautical motorcycles), as well as those lacking a motor and having an overall length of more than six meters, must certify the subscription of this insurance. The price will vary according to:
- The size of the length.
- The antiquity.
- The number of places able to transport the boat.
- The value of the candle, if it had.
- The value of the hull.
- The field of navigation (whether it is by sea, river, swamp …).
- Health insurance companies
This insurance is formalized for those health professionals who operate privately, will cover those damages that can be caused to those who demand this health care.
Professional Exercise Insurance *
- It is a professional indemnity insurance that covers the professionals qualified in the exercise of their profession.
