how important is Gross negligence in liability insurance?

Finance, Taxes, Banking, Insurance and Retirement
1
Hi all,

I am choosing a liability insurance, and coming across this term Gross negligence. I'm not sure if I fully understand it. I talked to one of the insurance guys and he recommended me to have it.

Can someone help explain it to me? And do you think it is worth having?

Thank you!

2
Is this the general one or the one for cars?

Are you planning to go rampant once you got a liability insurance?

It's basically for when you did something on purpose or at least when any stupid bugger should have known it will lead to costs and/or could easily have avoided the problem.

It's probably expensive?

I don't have this. But I have only insurances for the moments when fate is just being nasty. (Which is why I never need to make a claim so far, I guess )

The tendency in Switzerland is to be "überversichert" (being overinsured) = being insured for every possible and impossible situation. Problem: Often those people still end up covering the costs themselves because there is some clause or other that allowes the insurance to refuse liability.

So it depends on your attitude.

Or if it's for your child and you know it's a wild one

If it's for a car, the Bonus insurance is a good idea. It prevents from your insurance going up after an accident.

Never needed to make use of that either yet but got it. It's the "take an umbrella and it won't rain" system for me.

3
IANAL. I think, it is the degree of disregard that makes the difference. If you put the ones or the things around you in danger, because you're distracted (with reason), panick or some such, that would likely count as negligence. OTOH if you know what you're doing and consciously take the decision to put them at risk, then that would clearly count as gross negligence.

There is a pretty big grey zone there, so where an insurance company/court sets that threshold when the shit hits the fan, is anbody's guess.

4
then i would go for gross negligence insurance instead, both for car and household as the additional premium is not too much.

5
It is for private one. Of course I'm not going to abuse it. Like you said, I just want to be on the safer side when fate is against me

6
If it doesn't cost much, just take it, it prevents the insurance from trying to wiggle their way out of paying a claim in some corner cases

Don't put too much faith into this umbrella, insurers have a right to cancel your contract after any claim and next one will not care that you overpaid someone else for years for an extra protection

7
Yep, interesting thought.

8
exactly. you checked your mobile phone? gross negligence. didn't change winter tires? gross negligence. went 20 km/h over the limit? gross negligence.

9
thank you everyone for your input. I ended up going with Zurich with gross negligence included