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AUTO INSURANCE

LIABILITY INSURANCE: Definition, Benefits, Rates, Companies?

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Liability insurance
Germany-heavy article This article or sales shows that the situation in Germany is. Help to describe the situation in other states.
Contents [ Hide ]
One term
2 Legal and contractual framework
3 types of liability insurance
3.1 Typical liability insurance for private risks
3.2 Typical operating and professional indemnity insurance
3.3 Typical compulsory liability insurance
4 Exclusions
4.1 Typical exclusions
4.1.1 AHB
5 Duration of the insurance contract
6 cost-benefit analysis
7 External links
Concept [ Edit ]
A liability insurance policy is an insurance contract that one insurer to offset assets against disadvantages due to the policyholders facing claims for damages committed. The insurer is the policyholder of substantiated claims of third parties or defend at its expense unsubstantiated claims from; this passive legal supplements the active of legal expenses insurance .

Damage claims can be substantiated if the policyholder

breached a contractual obligation and can not prove that this was not the fault § 280 BGB or
the policyholder a duty of care (has culpably violated tort liability ; see. § 823 BGB) or
behave increasing danger has ( strict liability )
and has thus added a third party damage. For violations of contractual obligations is important to note that many resulting damage is not covered by liability insurance.

Most liability related insurance premiums are voluntary. Mandatory liability insurance policies are only in the areas held by the legislature for particular risks. Because of the operation risk posed by a motor vehicle, for example, vehicle owners must have a motor vehicle liability insurance to complete. Because of the danger posed by the use of firearms, hunters need a hunting liability insurance . No obligation to take out liability insurance is for. Example for pets (with some exceptions).

Legal and contractual framework [ Edit ]
The legal framework for liability insurance can be found in Germany in the §§ § 100 to § 124 of the Insurance Contract Act (VVG).

In Austria the §§ 145 to 158i of the regulated insurance contract law (Insurance Act) the rights and obligations of policyholders and insurers.

In Switzerland, this form of insurance is partly regulated also in insurance contract law (VVG).

The contractual framework designed Terms , namely the General Conditions of Insurance for Liability Insurance (AHB), patterns and conditions of the General Association of German Insurers and template used for most conditions, and risk descriptions and specific conditions that complement the CSO on the different types of liability insurance, and adjust . Professional liability insurance and property damage liability insurance have partly differing terms and conditions, as well as the uniform prescribed AKB for motor vehicle liability insurance .

Types of Liability Insurance [ Edit ]
Liability insurance can be divided according to different criteria, eg. Example, to determine whether they protect personal or professional risks, or on whether it is a voluntary liability insurance or compulsory third party liability insurance.

Typical liability insurance for private risks [ Edit ]
Personal liability insurance (PHV) to cover the liability risks as a private person from the situations of daily life, especially after § 823 BGB;
Motor vehicle liability insurance covering the liability for damages caused by use of the motor vehicle damage, in Germany, Austria and Switzerland, such as, embodied in most countries other than insurance, without whose financial statements motor vehicles are not approved for road traffic (legal basis in Germany: insurance law )
Keepers liability insurance (THV) to hedge the special liability risks as keeper of animals , in particular by § 833 BGB;
Homeowners and property owners liability insurance (HUG), insurance against liability claims, arising out of or in the range of houses and land
Water damage liability insurance to hedge against the effects of water pollution by oil tanks and other equipment with substances hazardous to water
Water sports liability insurance insurance against water sport related harm, especially the boat liability insurance, analogous to motor vehicle liability insurance usually an insurance
Hunting liability insurance to hedge against diseases caused by hunting liability claims
Builders liability insurance insurance liability claims in connection with construction projects
Typical operating and professional liability insurance [ Edit ]
Professional liability insurance or Office liability insurance to cover professional damage caused to third parties, such as
as employee or official on the Office liability insurance or service liability insurance , a property damage liability insurance
as a freelance doctor : Medical Malpractice
as a freelance architect or civil engineer
as a member of the legal and accounting professions, ie lawyer , notary , tax consultants , auditors : Property Damage Liability
as guardian or caregiver ,
different business liability insurance , to cover commercial and industrial risks of enterprises, in particular
Commercial and industrial liability , in Germany after the liability law , including the product liability
Environmental liability
so-called. D & O insurance , property damage liability insurance for members of the company.
Typical duty liability insurance [ Edit ]
Motor vehicle liability insurance
Professional Liability Insurance for Lawyers (cf.. § 51 BRAO)
Exclusions [ Edit ]
Exclusions specify in which cases not covered by insurance. They are found in the CSO, but for. Example in the AHB additional special conditions and risk descriptions (BBR) to the insurance contract. Their function is to limit the insurance coverage, for example, because the insurer would like generally do not provide coverage for a particular behavior (example: the policyholder has caused the damage with intent), or because he could offer insurance coverage for the excluded risk only under special liability insurance. want.

Typical exclusions [ Edit ]
AHB [ Edit ]
intentionally induced damage (in case of gross negligence of the insurance coverage remains however; compare § 103 (special provision for the liability insurance), unlike § 81 (general system for the non-life insurance) SG)
Claims between family members so far as they live in the same household or legal representatives of the insured
Claims between those insurance coverage from the same insurance contract have (hereinafter, are caused by an insured loss for a co-insured uninsured, z. B. property damage and financial losses of the car owner as a passenger for loss caused by another driver of the car accident)
Damages to other things that the policyholder has indeed due to some of rent , loan , lease , rent , unlawful interference or which he based on contractual agreement secures (here be noted that rental properties represent an exception; rented property are at most vendors at least up to contractually specified limits within the insurance sum insured, sometimes even to the complete sum insured. exception again is often damage to the object glazing and electric installation, which should be separately insured.)
Damages to other things that worked the policyholder
Environmental, radiation and asbestos claims
in asset and liability insurance and damage from commercial and speculative activities.
Examples which may be on the model terms of the total Insurance Association (GDV) referenced, which can be accessed from the homepage of the GDV, there Paragraph 7 AHB.

Meanwhile, larger contracts are offered by many insurance companies, however, the hedge against higher premiums otherwise excluded some of the damage. In addition, there are at similar premiums partly quite significant differences between the scope of services from different providers. So some providers now also offer specialized insurance rates and conditions otherwise excluded industry-specific occupational hazards.

Duration of the insurance contract [ Edit ]
The liability insurance is taken regularly for one or more years and is automatically renewed if it is not timely terminated before the contract expires. For most companies, the notice period is 3 months before the expiry date. In general, the duration of the contract may not exceed three years since the Insurance Contract Act 2008. Regardless of the agreed term of the contract by both parties, after a rejected or regulated incident terminated be. Likewise, the policyholder is entitled to a right of extraordinary termination at a premium increase. Here the period is one month from the receipt of the rejection damage, damage full regulation or increase premiums.

Cost-benefit analysis [ Edit ]
The private liability insurance protects the policyholder against the damages he caused culpably as part of his private life. There is no coverage, the responsible party for any damages of liability and all its present and future assets must occur without an upper limit.

The public liability insurance often provides a deductible prior to the insurance premium to keep in economically reasonable bounds and the policyholder to participate in the economic risk.

While closing policyholder liability insurance initially only in their own interests from to hedge in case of claims. However, the liability insurance beyond the social objective, the innocent victim often has to ensure a fair compensation to its legitimate claims. Therefore, the compensation claim is not economically in the policyholder's property, so he can take over any available. The victim may therefore also in case of insolvency of the policyholder require a separate satisfaction.

In the automobile liability direct claim of the injured party against the insurer notwithstanding this reason. Only 67% of German citizens have private liability insurance. Who is damaged by an uninsured person (eg. Example by a penniless dog owners) often goes away empty-handed. To offset this risk, insurers offer - at under special conditions, a quasi insurance against lack of liability insurance - for an extra fee. In such a case, the insurer grant their customers on the basis of a judicially decreed enforceable title, the acquisition cost of damage → (property loss coverage ) and provide its insured with it as if even the tortfeasor was insured.

In particular, in most danger-prone activities for social reasons to hedge the injured party is a legal or professional legal requirement to have liability insurance - Notwithstanding the principle of freedom of contract - provided:

High-risk area: motor vehicle liability insurance , nuclear liability insurance for the use of radioactive materials
Hunting liability insurance
Legal and economic advice: lawyers, accountants, auditors and notaries
Doctors and members of some other health professional
other professionals: security firms, showman, brokers and insurance intermediaries
In cases of compulsory insurance, the insurer is obliged to pay regularly to the victim, if there is to policyholders as bonuses for default, termination or breach of obligations performance freedom. However, this does not relieve the policyholder, he must leave the Insurer will reimburse the service provided afterwards.

A private liability insurance is essential. She comes for legitimate claims for damages to third parties, even if these millions achieve. Even a cheap liability insurance can protect the insured in this way from financial obligations that may exist under circumstances for a lifetime.

Because damage can not always be prevented even with the greatest care, the completion of a private liability insurance is therefore strongly advisable. This is even more than the premium for the liability in comparison to the potential cost of damage is negligible. Additional tasks of liability insurance, it is one to consider damage claims and, if necessary, repel .

Personal liability has in comparison to other policies a big advantage: As a family liability protects not only those who signed the contract, but also his family. Concretely are covered:

The policyholder
The spouse or partner living in the same household, unless he is registered in the contract
Children living in the same household - at least until the age of majority
If appropriate, domestic help, gardeners and babysitters
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But beware: Not all providers have the same conditions for the inclusion of other people. Thus extending the protection of some tariffs also to adult children who are still in training. For this reason, it's definitely worth the liability insurance a comparison to undergo and pay attention to the exact conditions. Furthermore, a comparison is recommended of course, to provide the most favorable liability to find.

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