Bankloch

  In Belgium, the so-called “family insurance” — more formally known as personal liability insurance — is one of the most widely held insurance products. About 80% of Belgians have it, underscoring its popularity. That’s no surprise: it offers protection against the financial consequences of everyday accidents. This insurance covers liability for damage caused by you, a family member, or even a pet to third parties. This can include both bodily injury and material damage. Think of your dog knocking over a cyclist, your child breaking a neighbor’s window, a skiing collision, a BBQ at a campsite accidentally starting a fire, a storm toppling your tree onto a neighbor’s car, or a mishap while helping a friend move. It sounds indispensable. And yet, paradoxically, most people rarely — if ever — use it. Despite its relatively low cost (around €80–€120 per year, depending on household composition and age) and broad coverage (including millions in potential compensation), the average poli...