Types of liability insurances

There are different types of liability insurances for students. Whether you are often unlucky or simply prefer to take the certainty for granted, there is an insurance policy that suits you and your activities without any doubts. On this page you will find an explanation of all types of student liability insurances and the corresponding cover.

Why a liability insurance

With a student liability insurance you are insured for damage that you unintentionally cause to others in your daily life. You are insured for a predetermined amount from which the insurer will pay compensation in the event of an accident. A liability insurance is one of the most important voluntary insurance policies to take out. An accident in which, for example, personal injury occurs can cause very high doctor’s bills.

Liability insurance

The normal liability insurance offers coverage for damage caused by you or your pet without intent. The damage that is compensated can vary. Some examples of what a liability insurance will cover:

  • Compensation for material damage
  • Compensation for damage assessment by experts
  • The costs of a lawsuit after liability

You are usually insured for an amount between € 500,000 and € 2,500,000. If your parents have a liability insurance with a family policy, you are probably also co-insured as a student.

Additional liability insurance

The standard liability insurance covers many accidents in daily life, but not all cases. There are a number of exceptions to the rule that usually relate to a specific activity. For example, coverage may not apply in the following cases:

  • During a risky sport
  • When you are working
  • Abroad

For these situations you can take out additional liability insurance through the insurer or, for example, the sports club to which you are affiliated.

Collective liability insurance

A collective insurance means that a large group has taken out the same insurance. This often involves associations and authorities. You can also take out a liability insurance collectively. Think about:

  • Insurance through your student association
  • Being insured through your sports club
  • Being insured through your employer during your work or internship

When you take out a collective liability insurance, you will often receive a discount. It can therefore be worthwhile to check whether you can join a collective liability insurance or not.

Legal liability insurance

A liability insurance (In Dutch: AVP) is often incorrectly called as a liability insurance. You are required to take out a legal liability insurance when you purchase and use a motor vehicle, a flying vehicle or a vessel, while a normal liability insurance is not required to take out. This is a voluntary insurance policy that you take out to limit the risk of high costs as a result of unintended damage.

Liability insurance for student entrepreneurs

Do you have plans to start your own business during your student days or to get started as a self-employed person? Then it is wise to take out a business liability insurance to be able to cover financial risks, if you have any damage during the provision of a service or if the product you produced will cause damage.