Most of the damage that happens in everyday life is property damage - maybe you knock your friend’s digital camera off the table. Or you overload a multi-socket in your rented apartment with too many devices. Or you sit on your friend’s reading glasses... Accidents can happen to anyone. A brief moment of carelessness can have far-reaching consequences.
You are legally obligated to make amends. For smaller things, like a broken cup, it’s probably no problem for you. The situation is different with glasses with special lenses. This can easily add up to a few hundred euros. An apartment fire could ruin you and your family financially.
In the event of damage, a Haftpflichtversicherung (German for private liability insurance) policy protects you and your private assets; it regulates the damage for you.
We have compiled a list of the most frequently asked questions and answers on the subject of "property damage" for you here.
Property damage occurs when you damage or destroy another person's property. This also includes damage to rented property. Damage that occurs suddenly - due to carelessness or an accident - is insured. This is the case, for example, if a hot pan falls onto the kitchen floor and damages it. Continuous damage caused by wear and tear is not covered by your liability insurance.
Yes, personal liability insurance covers the settlement of claims for property damage that you cause to other people. If you choose Coya's "Top of the Topps" topping, it also covers courtesy damage that may occur while you’re helping out friends or neighbours.
With Coya, you can insure yourself at the single rate. Or you can protect your partner and your children with family private liability insurance.
Courtesy damage is when you provide a free service or offer assistance in your neighbourhood and damage your friend’s or neighbour’s property. This is the case, for example, if you help with a move and drop a valuable vase or damage a staircase with a piece of furniture.
Coya covers up to 30 million euros. This means that you are comprehensively covered in the event of damage.
We recommend a coverage of at least 30 million euros. There are property damages that cause very high costs, for example, if your child accidentally starts a house fire or if you cause a traffic accident with several injured parties. That is why a high amount of coverage is advantageous.
Damage to property happens quickly due to inattentiveness in everyday life:
In the event of damage to property, your private liability insurance will cover the current value of the damaged item, not the replacement value.
“Current value" means the value of the item today. This is based on the assumption of a loss in value compared to the value when you first bought the item. The injured party has already used the object for some time. The use leads to a decrease in value. For example, a three-year-old smart phone is no longer worth as much as a new device.
In Germany, your liability insurance does not cover the replacement value of an item if it’s damaged or destroyed, only the current value.
If you accidentally smash your television set yourself when you move house because you hit it with a chair, your liability insurance does not cover the property damage caused. This means that if you cause property damage to yourself or another co-insured person, your private liability insurance will not cover the damage.
Your liability insurance will cover three areas for you or the persons co-insured on your contract:
Consequential damage to property arises as a result of material damage. Suppose you meet a good friend who works as a freelance graphic designer in a cafe. During a lively discussion, you accidentally spill your cup of coffee over his keyboard. First, you have property damage. The loss of data and the loss of work are consequential damage to property.
Of course! For example, if you have a German private liability policy and you are on holiday or on a semester abroad in an EU country, you are insured in the same way as in your home country, as long as your place of residence is in Germany. Outside the EU, your insurance cover is valid for a maximum of five years.
If you cause property damage to yourself or a co-insured person, your private liability insurance does not cover the damage. It only applies if you cause damage to other people's property.
No, in the case of wilful damage, your private liability insurance does not protect you by covering the claims for damages. For intentional damage caused by damage or destruction of other people's property, you have to pay for it yourself.
In addition to property damage, your private liability insurance also covers personal injury and financial losses. Personal injuries occur when you injure another person, damage their health or cause their death. A financial loss is when a third party suffers a loss of assets because of you.