Why purchase liability insurance for individuals?
Personal liability insurance is an indispensable insurance policy. After all, through your fault, you can cause hundreds of thousands of dollars worth of damage to others. The person causing the damage bears the financial burden. You had better be insured against it. What should you pay attention to when taking out liability insurance for individuals?
Car owners are required to carry third-party liability (TPL) insurance. Without a car, you can also cause considerable damage to others. For example, you accidentally collide with a woman rolling down the escalator at the mall. She also lands unhappily at the bottom of the stairs. With serious injuries, you could face a priceless claim. Without liability insurance, you are on your own for the cost. That is probably an impossible task financially.
Personal liability insurance coverage
Personal liability insurance comes in several forms. The most common are single-person or family coverage. If you are alone, the premium is lower since the risk of loss is less. With family coverage, other family members such as your spouse, registered partner and your children ( up to a certain age) are also co-insured. Do your parents (in law) or grandparents live with you? Then in most cases they are also covered under liability insurance. Pets are co-insured in both single and family coverage.
Take out liability insurance? Calculate the premium right away!
Excess liability insurance
Most insurers have not set a deductible when it comes to liability insurance for individuals.
With most insurers, however, you do have a choice in this regard. The higher the deductible you choose, the lower the insurance premium becomes (i.e., you get a discount). But be careful with this. When filing a small claim, it makes a big difference whether the deductible is €0 or €100. With €100 deductible you can't file many claims, namely if the repair costs of a damaged object of someone else are lower than €100, the insurer won't pay anything.
What does liability insurance for individuals cost?
The cost of liability insurance is called the insurance premium. The cost of liability insurance is relatively low and depends on the policy and whether there is a deductible. Read more about how the premium is structured here.
Combine liability insurance with other policies
Retrieved from Alpina.nl you can compare liability insurance, but you can also include other insurances in the calculation right away. Often liability insurance is combined with home and contents insurance. By combining these insurances, you can often benefit from a package discount. In addition, insuring with one insurer on one policy also offers convenience. In case of damage, you can settle everything with the same insurer.
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