Why should I take out personal liability insurance?
Private liability insurance protects against existential risks. If you cause damage, it must be paid for. If it is an object, it is usually still affordable. However, if a person is injured, treatment and rehabilitation costs can be immense. Financial losses can also go hand in hand if the injured person is no longer able to work for a longer period of time or cannot work at all. Personal liability insurance is essential to protect yourself from the financial consequences. It also protects against unjustified claims and thus represents passive legal protection insurance.
What is covered in private liability insurance?
As already mentioned, property, personal and financial losses are covered. These can occur together or individually and are treated by the insurance company with different amounts of cover. It is important that personal injuries and financial losses are insured with several million francs, because the costs of damage in these areas can very quickly become very high. Anyone who is not or not sufficiently insured is liable with their private assets, which in the worst case can result in debt or even personal bankruptcy.
What levels of cover are possible?
The coverage amounts are usually five million Swiss francs, but an increase in insurance to ten million Swiss francs is usually possible. Damage to third-party vehicles is often limited to CHF 100,000; damage to borrowed horses is borne at a daily rate plus CHF 10,000 in compensation. These sums are only examples of different coverage levels, because they differ depending on the provider of the insurance.
What is not insured?
Personal liability insurance, for example, does not cover damage that the insured person inflicts on himself or another co-insured person. Damage that is suffered through the exercise of the professional activity itself is also not insurable. If material damage occurs as a result of wear and tear or expected damage occurs, the insurance does not step in. Damage caused by a transmitted illness and the deliberate commission of a crime are also excluded from the payment of private liability insurance.
Is there a deductible?
The deductible is the amount that is to be borne by each case of damage. Only the amount of damage that exceeds the deductible will be covered by the insurance. In most cases, a deductible of CHF 200 is agreed; higher sums are also possible. The higher the deductible, the lower the premiums to be paid annually. A Liability insurance comparison Switzerland lets you sort by that.
Is there a pension coverage?
If two partners get married or move in together, the partner who was not previously in the household is included in the insurance. As a rule, precautionary cover is also granted to people who move out of their shared apartment or if the policyholder dies. This extends over a period of three months if the event is reported within this time. After that, the respective person must be regularly included in the insurance contract.
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