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What is the difference of liability insurance? - Expert Answer

19.11.2019,17:13


November 19, Fineko/abc.az. Liability insurance is one of the most important types of insurance.

Today we, the ABC.AZ team, will try to show the fundamental difference between liability insurance and other types of insurance.

During liability insurance if a person insures his personal property, in the event of damage to real estate, the damage is also inflicted to that person.

So, insurance expert Kamran Babayev asserts that, explaining the difference between liability insurance and other types of insurance. He points out that liability insurance insures the obligations of a person to a third party: "For example, if as a result of his act or inactivity, one person causes damage to a third party, then he is responsible for it and must compensate for this damage. In this case, liability insurance already takes effect. This is such an important type of insurance, and in developed countries this type has no borders. Therefore, this type of insurance is considered extremely important."