Private liability insurance - also a must for students
Private liability insurance - also a must for students
In Germany, you can insure yourself against many types of damage. Some
insurance is important, others are not. The first and most important insurance that you need
you need right from the start is "private liability insurance".
What does liability mean?
According to German law, you must compensate for damage that you cause to other people.
to other people. This is called liability, or in other words: you are liable for the damage.
Do you always have to compensate for all damage?
No. You only have to compensate for damage if you were not paying proper attention. You
have caused the damage. If you were unable to prevent the damage,
you do not have to pay for it.
First example: You are riding a bicycle and brake too late. You hit a car and scratch the paintwork. You have to pay for this damage.
Second example: Someone is looking at their smartphone and runs into your bike without paying attention. The cell phone falls and breaks. You do not have to pay for this damage because you were not at fault.
What is personal liability insurance?
This insurance pays for damage that is your fault and for which you are liable.
In the first example, this is the cost of new paintwork.
Liability insurance also helps if someone demands compensation from you for damage for no reason. This is called legal protection.
What is personal liability insurance?
This insurance pays for damage that is your fault and for which you are liable.
In the first example, this is the cost of new paintwork.
Liability insurance also helps if someone demands compensation from you without justification. This is called legal protection.
In the second example, the owner of the smartphone demands money for a new cell phone. The insurance helps you to defend yourself against this. The insurance company takes care of the letters. If you need a lawyer, the insurance will pay for it.
Is personal liability insurance important?
Personal liability insurance is the most important private insurance. Under German law
law, you are liable without financial limits.
Third example: You are walking across the street. You do not look around. A bus swerves out of your way. The bus skids and hits a tree. Many people are injured. The bus can no longer be repaired. Without private liability insurance, you would have to pay for all the damage yourself. That can be very expensive. In the worst case, you could be paying for it for the rest of your life.
Who is insured?
Family liability insurance covers the whole family. Children are insured with
family liability insurance until the end of their first education.
Adults can insure themselves alone with single liability insurance. You are
single if you are not married.
How high should the sum insured be?
The sum insured is the maximum amount that will be paid after a claim. The
sum insured should be at least 10 million euros.
In example three, the insurance would therefore pay up to 10 million euros.
What does private liability insurance cost?
A cheap insurance policy with good conditions costs around 50 to 80 euros per year.
Please note! This brief information contains only the most important information about private
liability insurance. It cannot replace advice in individual cases.
Imprint:
Verbraucherzentrale Rheinland-Pfalz e.V. 55116 Mainz