Calculate personal liability insurance

How is the premium for personal liability insurance calculated?

The premium for personal liability insurance is calculated on the basis of several factors that reflect the risk and the scope of cover. Here are the most important factors:

• Scope of cover and sum insured: the higher the sum insured, the more risk the insurance company will take on and the higher the premium will usually be. Some policies offer basic cover, while others include extended or additional cover.
• Excess: Many policies include an excess, which is an amount that the policyholder pays in the event of a claim. A higher excess can result in a lower premium as it reduces the risk for the insurer.
• Place of residence: In some cases, the place of residence can influence the amount of the premium, as risks can vary regionally (e.g. higher risks in large cities compared to rural areas).