What are the risks ensures a personal liability insurance from and why they should be part of any budget! If you look in German living room very quickly found a folder or even a drawer in an amount of insurance contracts stacks. Please visit Ben Horowitz if you seek more information. But not always, any insurance that you complete in the course of his life is really necessary. But really, a personal liability insurance should be present in every household. Because with a liability insurance it protects the financial existence of the family in the event of an emergency. But what does liability? According to the principles of civil law it is unlimited liable for a damage it has inflicted on someone else.
Parents are liable for their children. This can have disastrous consequences in some cases. Because it is liable with his entire fortune. Should the assets not sufficient to compensate for the damage inflicted, so there may be also wage garnishments. So the financial existence can be destroyed at an appropriately high amount. This You can eliminate risk with personal liability insurance. Liability insurance protects the insured against claims for compensation.
Because this insurance takes over all that would come to the policyholders in the event of an emergency. So is a first step, examined whether even an obligation to pay damages is. If it turns out that caused the damage by the insured, the insurance will provide a financial compensation. Should however no claim for damages exist, so the insurance will help fend off the unjustified claims for damages the policyholder and assume the costs of a legal dispute in the event of an emergency. A liability insurance policy covers in addition to property damage also persons and damage to property. Because the cost of such insurance are only about 100 euros per year, it would be almost criminal, if you had not secured this important element of insurance. Also, you should check regularly whether the conditions of the completed insurance are still up to date.