Bankruptcy without personal liability insurance?
Many underestimate the danger that non-existent personal liability insurance poses. Because: Personal injury and financial loss can cost many thousands of francs, whereby five to six-digit amounts have to be assumed. However, anyone who is liable must pay for all of their current and future assets. It can actually be threatened by personal bankruptcy, even if this may sound strange at first. The person causing the damage is liable with all his belongings and, if necessary, is even forced to sell valuables and pledge his salary. With a private liability insurance, such considerations are superfluous, because it protects against such claims.
Adequate coverage is important
It is important that the amount of cover is calculated accordingly. At least five million francs should be agreed for personal injury and financial loss, and in some cases the insurers even recommend increasing it to ten million. It is always the insurance sums that are paid for each claim. Other amounts are assumed for individual liability cases. Damage to a rented vehicle is only covered with CHF 100,000, and a loaned and used horse is covered by some insurers with CHF 10,000. It is advisable to check the coverage levels from time to time and to determine them according to the current recommendations.
Reasons for personal liability insurance
The following reasons speak in favor of taking out private liability insurance:
- Protection against claims of injured parties
- Assumption of property damage, personal injury and financial loss
- Defense against unjustified claims
- worldwide protection
Experts say that personal liability insurance is absolutely necessary, especially for pedestrians and cyclists. A little carelessness often causes an accident for which they are liable. Such damage can be expensive without appropriate insurance! Therefore always one Carry out liability insurance comparison.
Conclusion: Better not to do without private liability insurance!
Anyone who does not literally swim in the money should take out private liability insurance. The reason is that a damage event that may involve personal injury or financial loss can be very expensive. This can go so far that the entire existence is threatened because the person causing the damage is liable with his entire assets. The injured party is entitled to the settlement of his claims, therefore the future income must be used to settle the debt. If you want to avoid this, you should definitely take out private liability insurance!
Here you can see the offers in household items and Assess liability insurance comparison. Find out more, because the individual providers differ greatly in terms of services and the amount of premiums.
