What is the price of liability insurance?

Are you considering purchasing liability insurance? Then you are probably wondering about the price of liability insurance.

Liability insurance insures you for damage you cause to another person. An accident is sometimes in a small corner. For example, you drop a glass of red wine on a friend's carpet. Or you accidentally knock an expensive cheese off the neighbor's cupboard. Personal injury is also more common than you might think. The cost of personal injury can be substantial. Without insurance, you may find yourself in financial trouble. With liability insurance, you don't have to worry about this. We will go into more detail about the price of liability insurance here.

How is the price of liability insurance determined?

The price of liability insurance depends on a number of factors. When calculating the premium, an insurer considers the following factors:

• Family composition
  The premium for a single person is lower than the premium for a family because the insurer has less risk.
• The amount of the deductible
  The higher the deductible, the more premium discount you get. With a higher deductible, you do pay a higher amount yourself in case of damage.
• The amount of the insured amount
  You can choose the amount of the insured amount. You often have a choice of insured amounts.

Is something changing in your personal situation? For example, are you getting married, divorced or having a child? Or do you want to change your deductible or insured amount? Then the amount of the premium can also change. Always inform the insurer of any changes.