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Global Insurance: Liability Policies
What is covered?
While relatively inexpensive compared to many other forms of insurance, personal liability policies can be invaluable when you are faced with a lawsuit. Such liability insurances cover, up to a certain limit, legal payouts after an insured person has caused direct or indirect harm to a third party. This includes cases of:
- bodily injury
- personal injury, e.g. defamation
- property damage
- financial loss
In addition to final payouts, most insurance companies also cover legal defense fees connected to liability cases. However, keep in mind that intentional damage is not covered, and neither are contractual liabilities, i.e. any and all liabilities that you have assumed under a contract, either by express language or implication. If, for example, your rental agreement states that you will pay for the repairs of any damage in the apartment when moving out, your liability insurance will not cover these costs.
Additionally, you might also have to get separate insurance policies for different aspects of your life. Aliability insurance policy for your car, for example, is mandatory in many countries. You might also have to get a separate liability policy for your pet if it is not already covered by your own private liability insurance. Bigger animals in particular are often not included, and taking out a liability insurance policy for your dog might
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