Who needs liability insurance and why?

"Everyone should have one! Otherwise you are liable for damage caused to third parties with all your assets and - up to the seizure limit - also with your income. You may be liable for a lifetime until the financial loss for which you are responsible is fully compensated. Protection against this is extremely important."

What damage is covered by the insurance?

"All personal injury, property damage and financial loss caused to third parties if intent can be excluded. However, it is also a kind of legal protection insurance, as it also covers the defense against unjustified claims - even in court if necessary."

How high should the sum be in any case?

"The sum insured should be at least 5 million euros. More is even better and hardly more expensive. A personal injury claim that may result in a high pension for life can quickly add up to millions. That's why it's better not to skimp on the sum insured."

Do you have to take out a separate policy for children?

"No. Unmarried children who are still in education are generally also insured, as are spouses or cohabiting partners."

Is it worth taking out excess insurance?

"Yes, because liability insurance can be terminated by either party in the event of a claim. If this is done by the insurer, it can be difficult for you to get a contract elsewhere. An excess reduces the risk of losing your insurance cover even for minor claims."

How and where can I find the right tariff for me?

"It is always important to get independent information, for example from consumer advice centers or as a member of the German Insurance Association. You can find officially approved insurance advisors online at www.bvvb.de"

Default cover and small print

Indemnitycover: This is important because it works like a reverse liability insurance policy and pays for damage caused to you by another person and for which the person responsible is unable to pay or can only pay in part. However, it does not usually cover damage caused intentionally.

Small print: It is worth reading this carefully. The liability tariff should definitely cover damage caused by courtesy. It will then also pay out if you help friends move house and something breaks in the process. Also make sure that borrowed items are also insured.