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All about liability insurance
Liability insurance is insurance that pays for injury and property damage if the insured causes damage to others. For example, if you accidentally break someone else's laptop or you trip and take another person with you who breaks their hip as a result, this is covered by liability insurance if you are found liable.
Why do you need liability insurance there?
If you cause damage, by law you are liable for that damage. You are therefore responsible for ensuring that the damage is repaired. With this insurance, if you are held liable, the insurer will (partially) compensate you for the damage. If you do not have liability insurance, you must pay for the damage yourself. How much you have to pay depends on the type of damage. A minor damage, such as a knocked over vase, is usually manageable. But if someone is seriously injured because of your actions, the amount to be paid can be high. If the amount rises too high, you may not be able to pay it yourself and you may end up in financial trouble. To avoid this, you can get liability insurance.
What exactly is covered?
This insurance covers damage that you or another insured person causes to property (property damage) and persons (personal injury) and for which you can be held legally liable. If you have liability insurance, not only are you covered yourself, but the following people are also co-insured:
- You and your family, including live-in parents, lodgers and staff
- Minor children, even if they do not live at home
- Major children if they live at home, or live out for study
- Damage to others' belongings
- Pets
- Your (un)movable property
The coverage is very broad. You are insured worldwide. For example, if you cause a damage while on vacation abroad, you and your family members are also covered.
Compare Insurance
The most important thing about insurance is always the question 'what does this insurance cover?' And 'what does the insurance not cover? What things are excluded from the coverage?' That way you avoid comparing apples to oranges.
For example, if the amount insured and the amount of the deductible do not match at two different insurers, then you cannot compare based only on premium.
Most insurers offer a discount if you also take out other insurance policies with them. For example, household contents, building and legal expenses insurance. This is called package discount or home insurance.
Business insurance
In addition to insurance for individuals, there is also business liability insurance. Business insurance does not cover damages that you or your employees cause as a business. For this you can take out business liability insurance. With a business insurance you are insured for damages caused during your work. If you own a painting company and accidentally drop a pot of paint on a customer's carpet, you are insured.
Insurance for a child
As a parent, do you have liability insurance with family coverage? In most cases, your children are then co-insured until age 23 or 27. Your children must live at home or live away from home to study. If your child marries, then your child must take out their own insurance.
Insurance for a family
With family liability insurance, not only you but also the members of your family are insured in the event of damage. Within family coverage, damage to third parties caused by lodgers is also covered. If lodgers cause damage to your own belongings, this will not be compensated. In case of family expansion, it is important to take a critical look at the insurance as well. The same goes for divorce, moving in together and when the children move out. As long as your children are not listed on the policy, for example, they are not co-insured.
Average cost of liability insurance
To give you a better idea of the price of legal expenses insurance, we calculated the premium for four different situations:
| Family composition | Own risk | Sum insured | Premium per month |
|---|---|---|---|
| Single without children | €500 | €1.000.000 | €4,22 |
| Family with children | €500 | €1.000.000 | €5,95 |
| Single without children | €0 | €2.500.000 | €4,80 |
| Family with children | €0 | €2.500.000 | €7,00 |
Tort liability and strict liability
In determining who is liable for an injury, a distinction is made between fault-based liability and strict liability. This difference determines whether you are liable due to your own actions or precisely in situations where you yourself did nothing wrong but are still held responsible.
Tort liability
In fault-based liability, a person is liable for damages caused by their own actions. This need not always be intentional: carelessness or negligence can also lead to fault. So you can be liable without ill will.
Examples of fault liability:
- You knock over an antique vase at your aunt's house, causing thousands of dollars in damage.
- You trip and scratch a parked car with your umbrella, causing the car to have to be repainted.
Strict liability
With strict liability, you are liable for damages even if you cannot do anything about it yourself and are not at fault. By law, this applies to parents, employers, homeowners and pet owners, among others.
Examples of strict liability:
- A 5-year-old child accidentally knocks over an expensive vase at a friend's house. The parents are liable even though they themselves did nothing.
- A dog bites someone or breaks something: the dog owner can be held liable. Read more about liability and pets.
- A roof tile blows off your house and damages the neighbor's sunroom: as a homeowner, you are liable.
The difference between fault and strict liability
The difference is in culpability:
- In fault-based liability, you yourself are at fault for the damage, through your conduct or negligence.
- In strict liability, you are held liable even without fault or culpability.
What forms are covered?
In most cases, liability insurance covers both fault liability and strict liability. However, it is important to choose the right coverage. For example, if you have children, then family coverage is needed, not single-person coverage.
Frequently asked questions about liability insurance
Is liability insurance mandatory?
Many people think that liability insurance is mandatory. However, this is not the case. Liability insurance is often confused with third-party insurance. TPL means third-party liability. This insurance is mandatory, but it covers damage to motor vehicles.
Insurance for individuals (AVP) is not mandatory. However, insurance is recommended because it can save a lot of money in situations where you are held liable when you have caused damage.
What does liability insurance cost?
Liability insurance is not an expensive policy. For a few euros a month, you already have coverage. The cost of this insurance depends on a number of factors, such as age, family composition and the amount of the deductible. A single person without children is cheaper than a family with children. The insurer naturally looks at the risk of damage. Children are a risk factor here, as they are often rambunctious and unpredictable.
What is covered by liability insurance?
Damage you or your family members cause to others for which you are liable is covered by liability insurance. This also includes damage caused by pets.
What is the best liability insurance
We can't just point out the best insurance for you. It depends entirely on your personal situation. For example, liability insurance for students is not always necessary. If you have insurance with family coverage, the children listed on the policy are co-insured, even if they start studying. The coverage continues as long as your child continues to study. However, most insurers do have a maximum age limit of 27. Once the student is older, separate insurance must be purchased.
What does liability insurance zzp cost?
As a self-employed person, it is wise to purchase self-employed liability insurance. As a self-employed person, you will more than once find yourself in situations that can cause damage to third parties. Taking out liability insurance for zzp'er is a good way to cover yourself for unexpected situations. Liability insurance for self-employed people covers the financial consequences of your wrong actions. See what insurance for a self-employed person costs here.
Are pets co-insured?
Your pets are covered by liability insurance. Thus, you are insured against damage caused by your pet.
Is my liability insurance valid abroad?
Yes, liability insurance covers you at home and abroad. Each insurer may differ for which countries this applies or whether it is global coverage.
How is it different from third-party insurance?
Third-party insurance is mandatory when you own a car or scooter. This insurance covers the damage you cause to another person. Liability insurance covers damage caused to another person through no fault of a motor vehicle. Liability insurance excludes damage caused by a motor vehicle.
How is the price of liability insurance determined?
The price of liability insurance depends on a number of factors. When calculating the premium, an insurer considers the following factors:
- Family composition
The premium for a single person is lower than the premium for a family because the insurer has less risk. - The amount of the deductible
The higher the deductible, the more premium discount you get. With a higher deductible, you do pay a higher amount yourself in case of damage. - The amount of the insured amount
You can choose the amount of the insured amount. You often have a choice of insured amounts.
Is something changing in your personal situation? For example, are you getting married, divorced or having a child? Or do you want to change your deductible or insured amount? Then the amount of the premium can also change. Always inform the insurer of any changes.
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"Comparing liability insurance almost always pays off. Premiums may have increased or your personal situation may have changed. That's why we recommend comparing your liability insurance every year."
Laura - Property and Casualty Insurance Expert
For many years expert in property and casualty insurance
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