There are many types of insurance, but depending on what is protected, they can be of a personal nature or property damage. Let’s know what each type consists of.
What are Personal and Patrimonial Insurance?
While personal insurance protects a person in the event of an accident that affects him directly or indirectly, property insurance covers the assets of the insured for damages or losses they may suffer.
The main difference between personal and property insurance is.
Therefore, the object of the insurance, since in the former it is a human being and in the latter tangible assets (the insured’s assets) and their civil liability for claims caused by damages to third parties.
What are Personal Insurance?
Personal insurance covers the risks that may affect the physical integrity, existence or health of the insured person at any given time, such as death, illness or an accident that leaves sequelae.
Types of personal insurance and what are their coverages
There are four types of personal insurance:
Life: Guarantees a certain amount of money to the relatives of the insured in the event that the insured dies or suffers a sudden situation of total and permanent disability due to accident or illness.
Personal accidents: Indemnifies the beneficiary with an economic amount in the event of suffering an accident that incapacitates him for the performance of his professional activity or causes the death of the insured.
Health: Provides health coverage in the event of suffering any ailment or disease, which can range from healthcare to financial.
Dependency: Guarantees compensation that will be collected in the form of income, capital or provision of a service when the insured cannot fend for himself.
Insurance that includes RC Patrimonial coverage
The purpose of the Patrimonial RC is to cover the insured against civil liability that he may incur before third parties for acts for which he is responsible and thus protect his patrimony.
There are multiple insurances that include this type of coverage, such as Automobile, Credit and Surety, Pets, Agrarian, Pecuniary Losses, Engineering, Civil Liability, Multi-risk, Transportation or Non-payment of Rent.
Who is the Patrimonial Civil Liability coverage for?
The Patrimonial Civil Liability obliges to compensate the damage caused to a third party charged to the personal patrimony.
The cause of the damage can be either an individual, a company or a Public Administration, so it is convenient for anyone to have coverage that protects them against these eventualities.
Patrimonial Civil Liability for Individuals
Although it is very frequent that companies and Public Administrations have to face claims for personal or material damages caused to third parties (and, therefore, have insurance that protects them), individuals can also incur them, either in your private or professional life.
There are numerous daily cases in which it can occur: due to an accident driving a vehicle that collides with another; due to a flood in our house that causes significant damage to the house below; or for the bite that our pet can cause a passerby.