Personal liability insurance: why it’s important and how to find the best rate

A little carelessness, a mishap – and you’ve already caused damage that can result in high costs. This is exactly where personal liability insurance comes into play. It protects you against the financial consequences of damage that you inadvertently cause to third parties. In this comprehensive article, we explain what personal liability insurance is, who should definitely have it, what it covers and why it’s worth comparing it on finanz-fox.de.

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1. What is private liability insurance?

Personal liability insurance is one of the most important types of insurance of all. It covers you if you cause damage to another person – be it to their property, health or assets. In Germany, according to the German Civil Code (BGB), you are liable for damage that you cause to others through negligence or gross negligence, and for an unlimited amount. Without such insurance, high costs could threaten your financial existence.

Examples of liability claims:

• You accidentally knock a friend’s smartphone off the table, breaking it in the process.
• While cycling, you hit a parked car and leave scratches.
• Your child causes damage to the property of others while playing.

Without personal liability insurance, you would have to pay out of your own pocket in such cases.

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2 Who needs personal liability insurance?

The answer is simple: everyone! Personal liability insurance is not required by law, but is strongly recommended, as anyone can cause damage at any time. It is particularly important for:

Singles and families:

• Singles benefit from low rates.
• Families can often insure all members, including children, in a single contract.

Couples and cohabiting couples:

• Couples who move in together can take out a joint policy and save as a result.

Students and trainees:

• Many insurers offer favorable rates for young adults. They are often even covered by their parents’ policy until the end of their education.

Pet owner:

• Separate pet owner liability insurance is required for damage caused by dogs or horses. Cats, small animals and birds, on the other hand, are often covered by personal liability insurance.

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3 What does personal liability insurance cover?

The cover provided by personal liability insurance comprises three main areas:

a) Personal injury and property damage:

• Personal injury: If someone is injured through your fault, the insurance covers treatment costs, loss of earnings and compensation for pain and suffering.
• Property damage: If you damage third-party property, the insurance pays for the repair or replacement.

b) financial losses:

• If someone suffers a financial loss as a result of your actions, the insurance also covers this. Example: You cause a power failure that paralyzes a business.

c) Passive legal protection function:

• The insurance defends against unjustified claims. If someone makes an unjustified claim for compensation, personal liability insurance also covers the costs of a lawyer or court proceedings.

Not covered are:

• Intentional damage
• Damage to your own property
• Damage caused by uninsured animals (e.g. dogs without pet owner liability)

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4 Why is personal liability insurance worthwhile?

Personal liability insurance is one of the cheapest forms of insurance and also offers the most comprehensive protection. For just a few euros a month, you can protect yourself against potential costs in the millions. Here are some reasons why such insurance is worthwhile:

• Existential protection: It protects you from financial ruin in the event of a claim.
• Flexibility: Many tariffs offer additional options, for example for damage caused by loss of keys or rented items.
• Peace of mind: with personal liability insurance, you don’t have to worry if something does happen.

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5 Why carry out a comparison on finanz-fox.de?

There is a large selection of providers and tariffs, and not every policy suits everyone. A comparison on finanz-fox.de offers numerous advantages:

a) Time saving:

• Within a few minutes you will receive an overview of the best tariffs for your needs.

b) Transparency:

• The platform shows you all the important details such as sums insured, additional options and costs at a glance.

c) Cost savings:

• Thanks to the comparison, you will find the cheapest provider with the best service. New customers in particular often benefit from special conditions.

d) Individual customization:

• You can use the filter functions to search specifically for tariffs that include, for example, loss of keys, damage abroad or a high sum insured.

e) Reliable information:

• finanz-fox.de only works with renowned insurers so that you can rely on the quality of the offers.

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6 What should you pay attention to when comparing?

There are a few important aspects when comparing personal liability insurance policies:

• Sum insured: It should be at least 10 million euros.
• Additional benefits: Check whether damage caused by borrowed items, loss of keys or damage caused by courtesy is covered.
• Deductible: A small deductible can reduce the premium, but should be manageable.
• Term: Flexible contract terms offer more security in the event of future changes.

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7 Conclusion: Protect yourself and save at the same time

Personal liability insurance is essential for anyone who wants to protect themselves against the financial consequences of mishaps. At finanz-fox.de, you will not only find the right tariff, but also benefit from a quick and uncomplicated comparison. Whether you are single, a family or a pet owner – start your comparison today and enjoy the security of being optimally covered!