Insurances
LIABILITY INSURANCE - ACCIDENT INSURANCE - YEL INSURANCE
Liability insurance
0€ included in the 4works service fee
4works service fee includes liability insurance of EUR 500 000 – 2 000 000 (depending on the industry), in accordance with the insurance terms of Fennia insurance company.
We wanted to include liability insurance to our service, which also covers the activities of users of our service, because insurance companies issue liability insurances only to companies and with our new Poseidon.works service, almost all users of our billing service need liability insurance.
Liability insurance is especially needed when working for households and individuals, as home insurance of an individual does not cover damage caused by an outside worker.
However, we did not want to increase the price of our low-cost service fee and therefore excluded the PHCE (Plumbing, Heating, Cooling, and Electrical) industries from the insurance, due to these special requirements.
In our experience, professionals in the above industries generally have their own company, which can obtain liability insurance in accordance with their own industry.
The deductible for liability insurance is EUR 600 and the indemnity is sought directly from the insurance company.
Accident insurance
0€ included in the 4works service fee
4works billing service offers all its users accident insurance in accordance with Fennia’s insurance terms and conditions.
Insurance cover includes
Full-time accident insurance, which covers accident treatment costs up to € 20,000, per accident without deductible. (Insurance does not cover occupational diseases or sickness benefits)
The insurance is valid for work invoiced through 4 Works Oy and for trips directly related to the work.
One-off compensation for permanent damage caused by an accident up to € 53,598, without deductible.
Death benefit up to € 53,598. Beneficiaries are the relatives of the insured.
Fennia operator service, which is available every day from 7 am to 11 pm. The phone is answered by a healthcare professional who registers a claim and seeks the nearest available doctor’s time primarily from Fennia’s partners, Pihlajalinna and Terveystalo
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YEL-insurance
YEL insurance is an entrepreneur’s personal pension insurance and the basis of social security.
YEL insurance accrues you an employment pension for old age and also takes care of you during illness, parenthood or unemployment.
YEL insurance is statutory, for all 18-67-year-olds whose income from business activities is at least EUR 9208,43 (2025) during the current year.
The lower limit under the Unemployment Security Act is EUR 15128,00 (2025). If your self-employment is so small that your YEL earnings are below the minimum, you can take out optional YEL insurance.
As an entrepreneur, you estimate your own YEL earnings for the current year and the insurance company confirms it. Read the guidelines of employment pension companies in assessing earnings.
The YEL contribution is a certain percentage of YEL earnings. Because YEL insurance is statutory, the YEL percentage is the same for all entrepreneurs. The contribution rate is set annually by the Ministry of Social Affairs and Health. Your YEL contribution is determined by your estimated earnings.
See the YEL calculator of occupational pension companies.
YEL insurance premiums are fully deductible in personal taxation.
How to take YEL insurance?
You can take YEL insurance directly from pension insurance company, for example Veritas. Insurance is also easy to take directly online. Contact pension insurance company or fill in a form online and you get the bills directly to yourself.
If your current invoicing service charges for YEL insurance and you would like to change the invoicing service, contact the insurance company, where your payments go, and ask them to send the bills directly to you for the rest of the year.
Here you can take YEL insurance for yourself from Veritas pension insurance company
How are YEL insurance premiums handled?
When you have taken yourself YEL insurance, the insurance company sends you a normal bill like any other insurance bill, and you may decide yourself if you pay it in one or more installments. The exact amounts can be found from YEL calculator of the pension insurance companies. 4works will not charge YEL payments from your salary.
