How is the premium of my liability insurance determined?

The premium of a liability insurance is determined on the basis of different factors. An insurer always performs a risk analysis. They look at the probability that they will have to pay out compensation. The higher the risk, the higher the premium.

The total monthly amount for liability insurance includes the premium for the insurance, the renewal fee and the premium tax. Often, when you take out a new insurance policy, you will also have to pay a one-off set-up fee.

Premium determining factors

There are a number of premium determining factors for liability insurance:

• Family composition
• The amount of the deductible
• The amount of the sum insured

In determining the amount of the premium, the insurer takes these factors into account. For example, the premium is influenced by the composition of the family. Are you a single person without children? Then you will pay less premium for your liability insurance than a family with children. Children are a bigger risk for the insurer.

In addition, the premium depends on the deductible. The higher the excess, the more premium discount you will receive. With a higher deductible, however, you pay a higher amount yourself in the event of damage. You can also choose the height of the insured amount. Here, you usually have the choice of a number of amounts. The higher the amount insured, the higher the premium you pay.

A change in your personal situation affects the premium of your liability insurance. Are you getting married, divorced or having a child, for example? This can affect the amount of the insurance premium. Also, if you change the deductible or the insured amount, this will have an influence. Therefore, do not forget to always report changes to your insurer.

Calculate your liability insurance premium in 4 steps

Before you take out liability insurance, you will naturally want to calculate the premium. This way you will already have a good idea of the monthly costs. Calculating the premium is very easy. To give you a helping hand, we have made a step-by-step plan. In only 4 simple steps you will get an indication of the insurance premium:

Step 1: Compare liability insurance in our online comparison tool

You can easily calculate the premium for your liability insurance in our online comparison tool. Nobody wants to pay too much for insurance. By comparing you can find the best insurance at the lowest price. Never take out the first liability insurance policy you see, but look carefully at the premium, coverage and policy conditions.