Thus, we deem it important to discuss civil liability insurance . After all, regardless of the service, product or workforce being sold, or even your bureaucratic circumstance, as an Individual or Legal Entity, we are all subject to making mistakes and harming someone, even if unintentionally.
Eager to find out how to ensure the integrity of your professional operation? So, embark on this reading!
What is Civil Liability Insurance?
Essentially, contracting civil liability insurance consists of protecting yourself, your property and/or your company from the discharge of damages caused to third parties during your professional practice.
Therefore, this insurance consists of a policy that will bear the eventual indemnity costs, depending on the injury to the third party. As this is a type of insurance, it respects market standards, which limit the amount indemnified according to the coverage contracted.
It is still important to emphasize that this insurance can be used to indemnify both material and physical damages, being, therefore, a fundamental policy for health professionals .
But don’t think that only these professionals are subject to complaints. Bear in mind that people — individuals and companies — in the financial and infrastructure sectors face a huge burden of responsibility in their activities, whether managing an investment portfolio or building a solid building.
How important is it to people?
The protection is given to the property and integrity of the professional responsible for the damage. It is necessary to recognize that people are responsible or even make mistakes, above all, involuntarily. Thus, civil liability insurance — with its different coverage — protects the patrimony of the Individual or Legal Entity, depending on a conviction or court agreement.
We also highlight: this insurance is available for contracting by Individuals, personified by liberal and self-employed professionals, who wish to protect their activities.
But it is the Legal Entities that really need this policy, as, due to the greater number of commercial interactions, they are consequently more exposed to claims from other parties.
What types of coverage are offered?
Okay, now that you understand what liability insurance is all about, as well as recognize its importance to the smooth practice of your profession, it’s time to discover the main types of coverage offered. Check out!
Good civil liability policies can cover the costs related to hiring an experienced mediator, speeding up negotiations, calming tempers and softening reimbursements.
Very often, damages caused to customers imply in the judicial transit of the negotiations. In this way, having a robust policy for these unfortunate moments means receiving financial support from the insurance company, in defraying the expenses related to the insured’s defense, regardless of the final sentence.
This is the main reason for taking out civil liability insurance. You will have a limit available to the compensation of the injured party, under the pretext of damage (bodily, material or moral) and/or financial loss, as a result of harmful acts during the provision of your services.
Accessory covers are of great value, as they include conveniences such as:
- slander or defamation;
- reputation protection;
- emergency expenses;
- among others.
How does Civil Liability Insurance help users who go to court?
For the people on the other side of this equation — the injured — civil liability insurance is also a fundamental tool, mainly because it guarantees agility in the moral and financial retraction of the damages suffered.
A professional who does not have good insurance for advising will need to deal with the entirety of the processes, personally hiring a mediator, experts and other inconveniences attached to this type of situation – in addition to having to bear personal or business assets, with the damages caused to the consumer. applicant.
What is the average value of this insurance?
In reality, there is no average of the values practiced in the market, precisely because of the infinity of professional exercises and their different risks and indemnification frameworks.
However, we emphasize that some factors define the value, for example:
- whether the insurance was contracted by an individual or legal entity;
- the limit insured in the policy;
- the nature of the services provided.
As always, insurance policies and health plans are services contracted without the desire to ever use them. However, they are indispensable, once again when activated.
How to find reliable companies for Civil Liability Insurance?
Basically, you need to look at the broker’s reputation in the market. After all, for the moment you need it, you will not be helpless, receiving all technical, bureaucratic, legal and financial assistance.
Therefore, analyze the broker’s history, identify its social commitment, seek testimonials about the company, analyzing its ability to help you in times of emergency .
In addition, it is equally important to check the suitability of the policies offered for your professional activity, ensuring that the risks to which you are exposed will be taken into account when resorting to the insurer.
Finally, the price! In an act of financial responsibility , you need to ensure your budget balance, finding a company that combines fair values with necessary benefits.