What does the deductible include in liability insurance?
With many insurance policies, you pay a deductible in the event of a claim. The deductible of a liability insurance policy is the portion of the claim amount that you have to pay yourself. Suppose the deductible is €100 and you have a claim of €1000, you will receive €900 from the insurer. The remaining €100,- are for your own account.
Excess liability insurance per occurrence
This deductible for your liability insurance usually applies per claim event. Do you have 4 claims per year? Then you also pay 4 times the deductible. This is different with your health insurance, here your deductible applies for the entire year.
Example: you have a claim of €5,000. The insurance policy states that you have a risk of € 250 per event. You will therefore be reimbursed a maximum of € 4,750. Example: you live in Amsterdam and have € 1,000 damage due to theft. The insurance policy states that you have an excess of € 250 per event. Because you live in the 1 of the big cities an additional deductible of € 100 applies. You will be reimbursed a maximum of € 650 in this case.
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What is my liability insurance deductible?
With most insurers, you do not have a deductible. This means that if you accidentally break something belonging to someone else, you do not have to pay for the damage. In special cases, a company may set a deductible, but it will be explicitly stated.
What is covered under my liability insurance?
When you are shopping around for liability insurance, you naturally 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 for when choosing coverage here .
Up to what amount am I insured?
When taking out your liability insurance, you can choose the amount you want to be insured for. This may vary from one insurer to another. 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. Do you want to know exactly the maximum amount you are insured up to? Then look at the policy conditions of your insurance policy.
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