3rd party liability insurance:- The most important (Hamburg)
hands up those of you who have a 3rd party liability insurance?
Now, hands up those of you who don't?
It wouldn't surprise me in the least that the large majority of you don't have one. This is THE SINGLE most important insurance to have, not just in this country, but generally.
Now let me tell you why this is:-
There are only two compulsory insurances in this country:- Health insurance as I have touched on before, and car insurance (if you have one)
Third party liability isn't compulsory amazingly enough, although (in my opinion) it should be.
A third party liability insurance covers you for exactly what is says. Damage to anyone or anything that belongs to a third party, in other words somebody else or somebody else's belongings.
There are many examples I can list here for what a third party liability insurance is good for, but let me give you an extreme example, so you you know what I mean:-
Ok, you're walking down the street, and all of a sudden you see somebody really famous across the other side of the road. You are so caught up in staring at the famous person, you aren't really watching where you are going and you walk into the path of a cyclist. The cyclist has to swerve to avoid hitting you and slams into a lamp post, and is paralyzed from the neck down (I said this was extreme but I think this gets my point across). You obviously didn't do this deliberately but the fact still remains you caused the accident, and now somebody has to pay for the hospital treatment and the cyclists now, life long handicap. And that somebody is you. So basically you are now completely and utterly broke as you have to find a way to pay for the lifelong rehab for the handicapped person. If you had a third party liability insurance, that would take over for you.
How about this one:- what happens if you lose the owners keys to your apartment and you need to get the emergency locksmith to come out and basically break in to your flat? The whole house then needs new locks....and who pays for that??
What happens if you are helping somebody move house, and you drop their prized TV.....who pas for that?
There are hundreds of cases I could mention to back up the theory of why every single person should have one of these insurances. Wives/Husbands and children can also be covered under the same policy.
Now, the good thing is, is they don't cost really very much. Prices start at roughly €50per YEAR, but you don't get much coverage and there isn't too much included...but hey it's better than nothing right.
For a single person, a really really decent 3rd party liability insurance will cost around about €80-€100 per YEAR, and for a family not much more....roughly €120. That isn't top of the price range either...but to be honest the difference in coverage when the policies start going over the €140 per year mark, isn't that much any more really.
So, as usual, if anybody would like to know more or if you have any questions about this, then just let me know and I will answer any questions you may have.
All the best