What is personal liability insurance? Which types of cover are included in personal liability and which ones does it make sense to have? And how much does personal liability insurance cost anyway? Our guide provides clarity.
Guide
Personal liability – which cover makes sense?
What does personal liability insurance cover?
Personal liability is liability insurance for private individuals. Like third-party liability car insurance, it covers damage/loss that you cause to your fellow human beings in your day-to-day life. For example, it pays the costs incurred if you drop your neighbour's power drill or break a window pane in your rented apartment. In short, personal liability cover protects you from the financial consequences of mishaps.
In addition to such property damage, personal liability insurance also covers personal injury. So if you accidentally injure someone, your personal liability insurance will pay for the costs. For example, if you are insufficiently cautious while skiing and accidentally collide with an elderly gentleman, or if your dog bites a child while out on its walk. You can find out which other types of loss and damage are covered on our product page for personal liability.
By the way, damage to your own property is not insured. For this, you need household contents insurance. If you take out your personal liability and household contents insurance together in a combined household insurance policy, you will benefit from a combination discount.
Is personal liability insurance mandatory?
No, personal liability insurance is not mandatory, but it is highly recommended. For example, some landlords require you to have personal liability cover when you rent an apartment – in this way, the landlord or landlady can ensure that any damage you cause to the apartment is covered. Find out more about this in our guide to tenant damage. Personal liability insurance is also worth its weight in gold for your four-legged friends. If you have pets, you might be interested in our guide to animal owner's liability insurance.
Which cover do I need in my personal liability insurance?
With most insurance policies, you can choose between sums insured of CHF 3, 5 or 10 million. This is the maximum amount insured per claim. That sounds like a lot of money at first, but if you accidentally injure a person and they are no longer able to work, the costs can quickly run into the hundreds of thousands or even millions. Without appropriate insurance cover, you face personal ruin. In terms of cover and personal liability, we therefore always recommend that you opt for the highest possible sum insured.
In addition to the basic cover, most insurance companies offer additional forms of cover in personal liability. These include, for example, what is known as "third-party driver insurance". Under this type of cover, you are also insured if you drive someone else's vehicle from time to time. Find out exactly how this works and whether it's worthwhile for you in our guide to third-party drivers.
How much does personal liability insurance cost?
The cost of personal liability insurance depends on various factors. One of the key considerations is whether you take out insurance only for yourself or for everyone in your household (known as "multi-person insurance"). Other important factors for the premium are the additional cover types you select for personal liability and the deductible – i.e. how much you pay yourself in the event of a claim. The lower the deductible, the higher the premium. Discover exactly how much personal liability insurance will cost in just a few steps with our premium calculator.
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