{"id":1363,"date":"2021-10-25T15:01:52","date_gmt":"2021-10-25T15:01:52","guid":{"rendered":"https:\/\/ribesalat.com\/insurance-for-smes-what-insurance-should-they-take-out\/"},"modified":"2026-07-06T07:42:05","modified_gmt":"2026-07-06T07:42:05","slug":"insurance-for-smes-what-insurance-should-they-take-out","status":"publish","type":"post","link":"https:\/\/ribesalat.com\/en\/insurance-for-smes-what-insurance-should-they-take-out\/","title":{"rendered":"SME insurance: which policies should a company take out and which are mandatory in Spain"},"content":{"rendered":"

Correctly defining <\/span>SME insurance<\/b> is not about taking out more policies, but about building <\/span>protection that is coherent with the reality of the business<\/b>. According to MAPFRE\u2019s <\/span>Radiograf\u00eda del seguro para las pymes y los aut\u00f3nomos<\/span><\/a>, claims frequency among small and medium-sized enterprises increased by <\/span>10.8% in 2023<\/b>, with average costs of <\/span>\u20ac7,300 per fire claim<\/b>, <\/span>\u20ac8,000 for business interruption<\/b> and up to <\/span>\u20ac13,700 for associated personal injury<\/b>. Despite this, <\/span>only 1 in 10 Spanish SMEs<\/span><\/a> is fully protected against its insurable risks.<\/span><\/p>\n

Not all companies face the same risks or are subject to the same requirements. An industrial SME, a service firm, a professional practice or a retailer all have different exposures and, therefore, different insurance needs. For this reason, the answer to which insurance policies a company should take out cannot be based on a generic list, but on an analysis tailored to its activity, structure and level of risk exposure.<\/span><\/p>\n

It is important to start with an essential premise: in Spain there is no single mandatory insurance package for all SMEs. Obligations vary according to the activity carried out or the requirements imposed by certain contracts.<\/span><\/p>\n

In this context, insurance should not be understood solely as a formal obligation, but as a strategic business protection tool: its purpose is to reduce the financial impact of a claim, preserve operational continuity and strengthen business stability in scenarios that may seriously compromise short- and long-term sustainability and development.<\/span><\/p>\n

\u201cMany companies are not truly underprotected because they lack insurance, but because their covers are poorly structured or insufficiently adapted to their activity. The real value lies in designing protection aligned with the actual risks of the business.\u201d \u2014 Carmen de Haro, Retail Director at Rib\u00e9Salat<\/span><\/i><\/p><\/blockquote>\n

Why an SME should review its insurance beyond legal compliance<\/b><\/h2>\n

In many cases, insurance reviews are approached solely from a compliance perspective: what must be taken out to operate in accordance with regulation or sector requirements. However, this approach is insufficient from a business risk management perspective.<\/span><\/p>\n

An SME may comply with all its legal obligations and still remain exposed to situations with a high financial or operational impact. A third-party claim, significant damage to premises, an interruption of activity or a digital incident can generate consequences far more severe than expected. To explore how to identify these risks systematically, see our guide to <\/span>business risk identification<\/span><\/a>.<\/span><\/p>\n

Before analysing which policies should be taken out, it is advisable to ask a few basic questions:<\/span><\/p>\n