Unforeseen events happen, and that is why it is always good to stay protected in any situation.
In Civil Liability Insurance, the Insurance Company covers the risk that the insured will have to compensate third parties for damages that they cause and whether they are material or physical.
One of the most significant advantages of Liability Insurance is to guarantee the maintenance of your financial stability. Mitigating the risk of mortgaging your assets to compensate someone you have caused damage.
Civil Liability Insurance can cover different risks, both at the individual level and at the company level. There is Civil Liability Insurance that is mandatory by law, and there are those that are optional.
In mandatory Civil Liability Insurance coverage and minimum capital are defined by law; in optional coverage and capital, the policyholder determines it with the Insurer.
We have, for example, liability insurance that covers the risks inherent in:
Socalmed has a full offer that covers several types of liability insurance:
Sometimes we devalue this type of insurance, but if we think about the following example, we can understand its importance.
For example, we have a house in which one of the tiles falls on a third person, forcing him to be admitted to the hospital and discharged. Furthermore, the fall of the tiling in our house caused this third person to be incapacitated, which does not allow him to exercise his profession anymore. In addition to having an above-average salary, this person was the sole breadwinner of his household.
Can you imagine what compensation the court will force you to pay, and do you imagine paying a monthly fee to that person for the rest of your life?
In these cases, we see the use of paying insurance to transfer this risk to the Insurer.
In the event of an accident, the victim must request his / her claim for compensation - if it is an optional Liability Insurance -, to the person causing the damage. He will then contact your insurance company and arrange insurance.
If it is compulsory civil liability insurance, the injured party has the right to demand payment of compensation directly to the Insurer.
For more information and clarification about Liability Insurance, reach our agency or contact us by e-mail or phone.