What does liability insurance cover?
When you're shopping around for liability insurance, you'll obviously want to understand what kind of coverage it offers. In terms of amount, but also for whom in your family exactly. There are many insurers offering liability insurance coverage, but what should you look for?
What is third-party insurance?
TPL means third-party liability. The term WA insurance is used in motor vehicle insurance. By law, the owner of a vehicle is obliged to take out third-party insurance. This insurance covers damage caused by a motor vehicle to others.
What is the difference between third-party and liability insurance and are they compulsory?
Liability insurance for individuals is also sometimes called third-party insurance. As described above, third-party insurance for motor vehicles is mandatory, but liability insurance for individuals is not. However, it is advisable to take out this insurance to protect your own financial situation (liability claims can be high in terms of damage amount). In addition, the premium is usually relatively low.
Liability insurance for individuals provides coverage for damages arising from fault and strict liability. In other words, for damages for which you can be held liable, liability insurance provides coverage (of course, exclusions may apply).
What is the maximum amount of damage that can be covered by liability insurance?
This can vary by insurer. The insured amounts range from 1 to 5 million euros per event, but 2.5 million is the insured amount that is most common. Often you can choose between two amounts.
Does the liability insurance cover damage caused by my child?
If you took out the insurance on the basis of family coverage, then damage by your children to/at others is also covered. However, if your child damages property in their own home, then unfortunately this is not covered.
Does the liability insurance cover damage I cause to someone else's laptop and mobile phone?
If damage is caused to/by persons outside the family coverage of the liability insurance, coverage is provided for this. Of course, this damage must not have been caused intentionally.
Will the liability insurance cover me if my dog bites someone?
Usually, damage caused by pets to others is covered on the avp. Of course, the insurer will look at how the damage occurred. When you are outside with your dog without a leash, you are taking a risk. Insurers may decide, in accordance with their terms and conditions, not to provide coverage for this.
Is there any cover on the liability insurance for damage I cause abroad?
Usually there is coverage abroad. Whether this is only in Europe or for example worldwide you can check in the policy conditions.
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