Coverage amount builder's liability insurance

Hello, :)

we have two offers from two different insurance companies for the [Bauherrenhaftpflichtversicherung]. One has a coverage amount of 5 million euros, the other 15 million euros. Can someone tell me if 5 million is too little or if 15 million might be exaggerated?

Thanks and regards
Tatze

Hello,

a high coverage amount is definitely better in any case. If the premiums are not insanely far apart, I would definitely choose the higher amount.

Coverage amounts in liability insurance are often underestimated. People often think, 5 million is a lot. But if something really goes wrong on a construction site and a liability claim occurs, then 5 million are quickly used up. I personally (for over 8 years in the prefabricated construction industry, before that in the large project sector) have never had a severe (i.e., in the millions) claim, but when in doubt and if costs are comparable, choose the higher amount.

Best regards CADAMaRa