What is the excess in liability insurance?
With many insurances you pay an own risk in case of damage. The excess of a liability insurance is the part of the damage amount that you have to pay yourself. Suppose that the own
risk is €100,- and you have a damage of €1000,-, you will receive €900,- from the insurer. The other €100,- will be for your own account.
Liability insurance excess per occurrence
This excess for your liability insurance usually applies per claim. Do you have 4 claims per year? Then you also pay 4 times the excess. This is different for your health insurance, where the excess applies for the whole year.
Example: you have a damage of € 5,000. The insurance policy states that you have a risk of € 250 per incident. You will therefore receive maximum compensation of € 4,750. Example: you live in Amsterdam and the damage is €1,000 due to theft. The insurance policy states that you have an excess of €250 per incident. Because you live in one of the major cities, an additional deductible of € 100 applies. In this case, you will receive a maximum compensation of € 650.
Take out liability insurance? Calculate the premium directly!
What is the excess of my liability insurance?
With most insurers, you do not have an excess. This means that if you accidentally break something belonging to someone else, you do not have to contribute to the amount of the damage. In special cases, it can happen that a company sets an own risk but this is explicitly indicated.
What does my liability insurance cover?
When you are looking for liability insurance, you want to know exactly what is covered. In terms of amount, but also for whom in your family exactly. Read more about what to look out for when choosing coverhere .
Up to what amount am I insured?
When you take out liability insurance, you can choose the amount for which you want to be insured. This can differ per insurer. The insured amounts vary from 1 to 5 million euro per event, but 2.5 million is the most common insured amount. Often you can choose between two amounts. Do you want to know exactly up to what amount you are insured? Then look at the policy conditions of your insurance policy.
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