Liability Insurance In Greece

We, humans, are known to make mistakes knowingly or unknowingly, these mistakes may go unnoticed or go viral, and the mistake one made could harm himself, his assets, another person, or another person’s assets. As they say, actions have consequences if, by one’s mistake, he or she causes damage to anything, and it can be pretty costly to repair that damage. Let’s say a person splashes too much water while washing his car, which reaches the sidewalk, and if someone slips by that water, or if one leaves the bucket in the driveway after the car wash and himself (or his partner, kids, maybe even a random visitor) trips over that bucket, it can expose that person to a liability to fix the damage caused. Personal liability insurance, also known as personal insurance or personal umbrella insurance, provides financial protection for individuals in the event that they are held liable for damages or injuries caused to someone else. In Greece, this type of insurance is becoming increasingly popular as a way for people to protect themselves from the high costs of lawsuits and other legal proceedings.

Quick Comparison Of The Best Personal Liability Insurance In Greece

Several types of personal liability insurance are available in Greece, including general liability insurance, professional liability insurance, and product liability insurance. Personal liability insurance is the most common type of personal liability insurance. It covers a wide range of potential liabilities, such as accidents on your property or injuries caused by your pets. On the other hand, professional liability insurance is specifically designed for individuals and businesses that provide professional services, such as doctors, lawyers, and accountants. Product liability insurance, meanwhile, protects manufacturers and retailers if a product they have produced or sold causes harm to a consumer.

What Is Private Liability Insurance In Greece

Insurance can not change someone’s life magically, but of course, it helps to secure your possessions for your future and your loved ones. When choosing a personal liability insurance policy in Greece, comparing different insurance companies and their coverage is essential. Some of Greece’s most well-known insurance companies include Generali, Piraeus Bank, and Alpha Insurance.

 Generali is one of the largest insurance companies in Greece and offers a wide range of personal liability insurance policies. They have a reputation for providing excellent customer service and have a long history in the insurance industry. They also offer various discounts and incentives to customers who bundle their liability insurance with other types, such as a car or home insurance.

Piraeus Bank insurance is another well-known insurance-providing bank in Greece that offers personal liability insurance. They strongly focus on providing affordable insurance options and have various policies. Their civil liability insurance gives protection against accidents to third-party damages caused by you. This insurance covers you along with your family living with you. This subscription-based insurance plan starts from 49 euros per year with the option of interest-free installments. This policy covers up to 20.000 euros for bodily injuries, up to 30.000 euros for group accidents per event, and up to 50.000 euros for material damage per event, and with a maximum liability payout of 50.000 euros annually. They also offer a range of discounts and incentives to customers who opt for their liability insurance plans with other types of insurance.

Alpha Insurance is a newer company in the Greek insurance market but has quickly gained popularity for its innovative and flexible insurance options and competitive pricing. They also have a dedicated customer service team and a user-friendly online platform for customers to manage their policies and claims.

Howden One network stands among the top insurance-providing companies in Greece. One of the most prominent insurance provider groups offers insurance plans for different segments. They do offer personal liability insurance to individuals, professionals, and businesses. This yearly subscription you can cancel anytime. They provide 24/7 customer support to their clients.

Why Do You Need Liability Insurance In Greece?

Being an ex-pat living in Greece, if you do some damage to someone else, you are 100 percent liable for the damage you caused to others. Greek residents or non-residents, anyone can sue you for the damage you caused to them. So, it will be wise to go for insurance instead of paying out of your pocket. Not only personal liability, but if you have a pet with you and you are entering Greece, you should get your pet insured even before entering Greece. It will save you from going into some bad experiences. Similarly, get that insured for third-party liability, too, if you have a car or a house, as it will save you in bad times. 

Example Of Having Liability Insurance In Greece

Medical and hospitalization in Greece are expensive, especially if you are an ex-pat and struggling in your initial years with finances and spending. Having your liability plan is always good for you. It may sense absurd, but let’s say you are playing cricket with your friend, and you hit the ball so hard that it hits a biker passing by, and he suddenly falls. Now you will go to him to pick him up and say some excuse but realize his arm is fractured along with a badly damaged bike. In such a situation, you are responsible for all the costs he has to bear, and your liability insurance will cover this financial loss. So, you will be covered instead of getting bankrupt for your random act.

What Does Liability Insurance In Greece Cover?

Liability insurance in Greece covers losses incurred by an individual or a business to a person, property, pet, or any asset. Let’s look at some of the things covered in liability insurance by typical Greek insurance service providers:

• Damages caused by the insured person (or business) to the house, car, or any kind of assets of another person
• Damage caused to your rental property or the building it is in
• The harm caused to someone else’s health, be it physical or mental
• Loss of income caused to another person or business by one’s action / unintentional mistake 

It is generally advised to research which insurance provider covers the most things in comparison to the price it quotes. We suggest being generous in spending to get good liability insurance. Damages to third persons or parties can prove to be extremely expensive. So, the better liability insurance you get, the more you can have your back if you are stuck in such a situation. 

What Does Personal Liability Insurance In Greece Not Cover? 

While liability insurance policies are designed for the very purpose, that is, to save you from financial liability for actions caused by you. There are still some losses that these policies do not cover in Greece:

Many insurances shy away from paying if it is found from surveillance or other evidence that damage was done intentionally. But that is okay because you would not want to damage anyone intentionally, right?

When you are driving a car and cause damage, it is generally covered by car insurance, not liability insurance. You might want to look into coverage when you are driving someone else’s car. Generally, their third-party insurance should cover it.

If your pet causes damage to someone, it may have to be covered through your pet insurance.

Self-inflicted damage (intentional or unintentional) is something liability insurance may not cover. If you drop your phone and that leaves the screen shattered, or the phone stops functioning the way it should be…you should still check if you can get such damage covered.

Any work-related damages may be covered through your work insurance, not your personal liability insurance. You could get business liability insurance.

No insurance covers losses incurred during riots, war, or military activities.

Typically, liability insurance will not cover damage caused by your malpractice. This is a vast topic; you should discuss it with your insurance agent before signing up for any personal liability insurance policy.

Which Is The Best Personal Liability Insurance In Greece?

Piraeus Bank is providing the best insurance plan in Greece for individuals opting for personal liability insurance. This comprehensive liability plan covers accidents that happen to damage third parties as a result of your behavior. This insurance plan also covers your family members with the highest liability payout of 50.000 euros annually. If you have a Piraeus bank card, you can also pay its premium in 12 interest-free installments. 

Conclusion

In conclusion, personal liability insurance is an essential form of protection for individuals and businesses in Greece, as it can help cover the costs of lawsuits and other legal proceedings in the event that they are held liable for damages or injuries caused to someone else. It is essential to compare different insurance companies and the coverage they offer, as well as to understand the terms and conditions of the policy, to make an informed decision and choose the best policy for your needs and budget.