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Liability insurance (also called third-party insurance) is a part of the general insurance system of risk financing to protect the purchaser (the "insured") from the risks of liabilities imposed by lawsuits and similar claims and protects the insured if the purchaser is sued for claims that come within the coverage of the insurance policy.
Within Canada, all auto rentals are required by law to include a minimum of $200,000 in third-party liability insurance, regardless of whether the renter has their own auto insurance or not. Most rental agencies thus do not provide a third-party liability insurance option, and simply factor in the premium as part of fixed cost of rental. [7]
The minimum coverage defined by German law for car liability insurance / third-party personal insurance is €7,500,000 for bodily injury (damage to people), €500,000 for property damage and €50,000 for financial/fortune loss which is in no direct or indirect coherence with bodily injury or property damage. [24]
Liability insurance only helps with the damage you cause — to another person or to their property — after an accident. Liability insurance does not provide financial protection for your ...
In 2013, Ingle International expanded internationally and [10] [11] the company introduced new implementations to existing products, such as third-party liability and homestay liability insurance for international students and homestay families. [12]
For liability coverage, most insurance professionals advise that you purchase limits higher than state minimum levels to protect yourself against financial strain in the event of an at-fault accident.