What does this mean? What is 'liability?' In New Zealand, with the ACC system, we don't have a lot of experience with being 'sued' for our 'liability'.
We have a 'no-fault' system for personal injury - which means that we are protected from continual personal law suits.
However, many people aren't aware that there is still liability if you do something that causes property damage. You can still be sued.
If you have a good house and contents insurance policy, this will incorporate 'liability' cover. If you don't the cost to you could be enormous.
This excellent article outlines how this works.
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For more blog entries that you might be interested in:
House Insurance- Probably the most important financial issue for you in the next year
So, you are 49 – time you don’t need insurance? NAH!!
Tax Rebate on your Health Insurance premiums… Would it make you buy cover?
By Carey Church
