Liability insurance

What is the purpose of liability insurance?

It can easily happen in everyday life that a private person who is the owner of an apartment or a house causes losses to other persons: by leaving the water running, damaging thus the neighbourÿs freshly renovated apartment; by failing to treat the slippery road in front of the house with sand, causing thus the fall of another person. The person who caused the loss must compensate it, even if the loss was caused unintentionally and the person who caused the loss incurs huge expenses. Liability insurance helps to compensate such losses.

Which losses are compensated by liability insurance?

Liability insurance compensates the owner of an apartment or a house within the amounts he must pay for losses caused by his or his family memberÿs (spouse, children) fault or negligence. Insurance covers the amounts that are related both with property damage and personal injury or death.

In special circumstances it is possible to insure the liability during the period of renovation works in a building. Salva will compensate the losses caused to neighbours or other persons during the renovation works.

Liability insurance contracts can be concluded up to 5 years

Multi-year contract provides continuous insurance coverage and a cheaper insurance payment. 

What is the cost of liability insurance?

The level of insurance premium is subject to various conditions. E.g. whether the contract concerns an apartment or a house; the estimation of potential losses by the owner, i.e. which is the required level of protection against potential claims.
Employees of Salva can make you a concrete price offer.

How are losses compensated?

If you are aware that you have caused losses to another person, you have to notify Salva without delay. You have to notify Salva even if the victim has not yet claimed the compensation of loss. If you follow this requirement, Salva also indemnifies for losses the compensation of which is claimed only after the end of insurance period.
Insurance compensates the owner of an apartment or a house within the amount the latter has to pay to the victim. If agreed, the insurer may pay the compensation directly to the victim.