One of the most common forms of 'financial assistance' is the Hire Purchase (HP) agreement.
So therefore, as with all insurance, stress to clients the importance of reading their policy beforehand and make sure they understand the liability cover they enjoy as well as the limitations.
From an insurance perspective liability, be it personal or general liability, means that the person involved must be legally liable, which can only be decided by a court of law.
With most insurance companies the limit of liability can be extended depending on the client's own personal requirements, but clients need to know this and here the broker plays a critical role. Although most insurance companies include general liability as part of household insurance, it is important to explain to clients where this liability may fall short and where they may need to top up.
With most insurance companies you can extend the limit of your liability depending on your own personal requirements.
Property Owner's Liability is more of a maintenance issue and comes into play in instances where the property owner has not taken proper precautions.
So therefore, as with all insurance, it is important to read your policy beforehand and understand the liability cover you enjoy as well as the limitations.
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