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Old 15.03.2019, 19:56
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Re: Liability Insurance - the CHF 3 or 5 million policy?

Quote:
3 Million is almost always more than good enough.

But some people are willing to pay a bit more since the price of you causing an accident where for example the father who is the only income earner in a family making 10K a month ending up with brain damage is huge, and if he had his kid along who ends up in a wheelchair than a few millions really means nothing.

So it is basically a small price to pay to prevent getting bankrupt if the worst case scenario happens.
Income loss is covered by accident insurance, one of the reason car insurance in CH is cheaper than the UK where there is huge fraud in accident compensation claims.