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liability insurance

Therefore, no one can do without liability insurance

Sep 03, 2018
3 min reading time

You can insure everything, but not insuring gives you monthly savings. And how often do you actually use your insurance policies? Families who never have claims can omit private liability insurance (AVP). But what if?

How often have you used the AVP in recent years? So how often have you caused damage to others or to other people's property? You can claim such damages on the liability insurance for individuals, but obviously you will not file a claim if the damage is a few euros. You could cancel the insurance, but we still don't recommend that. Suppose you do cause a large amount of damage, who will pay for it?

How much does liability insurance pay out at most?

Insurers use insured amounts from 1 to even 5 million euros for liability insurance. An amount of one or several million seems grossly exaggerated, but it is based on something. In 99.9% of damages to others, it will not amount to such a claim, but it can happen. Through a mistake, you can cause personal injury to others. The financial consequences are recoverable from the person who caused the injury. For someone who can never work again because of the injury, the financial damages can run into the hundreds of thousands of dollars. Several people can be injured by one mistake, so hence a high insured amount.

What do you take out liability insurance for?

You take out this insurance to prevent personal bankruptcy due to damage caused to others. If you are not insured for liability damages, you will still be presented with the bill. Is the claim prohibitive for you? Then the claim may continue to haunt you for life. As soon as there is money to collect from you, the claim will still be collected. To avoid this, take out liability insurance.

Family members are also co-insured

The insurance provides coverage for damage caused by yourself or one of the other family members. The coverage goes even a step further. For example, pets and household staff can also be co-insured. However, pay close attention to who is co-insured according to the policy. With a family with children, you should choose liability insurance tailored to such a family situation. A single person without children will pay less than a family with children. Do pay close attention to this.

Is liability insurance a part of home insurance?

There is a mistaken notion that contents, - building and liability insurance are all in one package. It can be done, but it is certainly not necessary. You can have these insurances with different insurers. This often happens in practice. Insurers encourage combining with a package discount, but often it can still be cheaper with different insurers.

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