Welcome guide for incoming ULg staff and visiting researchers

23 A UTOMOBILE I NSURANCE In Belgium, it is mandatory to insure all motor vehicules that are put into circulation (including two-wheeled vehicules) with third party liability. This insurance coverage compensates for bodily injuries, material damage and emotional distress caused to third parties in an accident in which the driver of the vehicule is at fault. Third-party liability insurance only applies to costs incurred by the third party and not the costs of the damage to the vehicule of the driver responsible for the accident. An additional, optional, insurance is required to cover personal costs (Omnium/full coverage insurance options, see below). The amount of the insurance premium varies depending upon the insurance company, the age of the driver and the power of the vehicule. It also takes into account, the number of accidents in which the driver was at fault- if a driver has already caused an accident, a higher insurance premium will be assessed. The insurance certificate, also known as the ‘green card’ must be kept in the vehicule at all times. INSURANCE FOR RENTAL AGREEMENTS Within the framework of a rental agreement, certain types of insurance are required. Every tenant is obliged to take out fire insurance (or housing insurance) to cover personal property and the part of the building that they occupy. This insurance reimburses the costs associated with the replacement, repair or reconstruction of a house and/or its contents, in the event of a fire. Many policies include the risk of theft in a home, water damage, broken windows, etc. Fire insurance is mandatory for tenants of all dwelling types: house, apartment, garage, etc It is critical to correctly establish the value of the property being insured. Property owners must hold insurance for the residence. R ECOMMENDED INSURANCES For major risks (fire, car accident…) the damage can be extensive and a person may not always be able to cover the costs incurred. The financial coverage from the insurance provider is therefore important; especially as the financial coverage can at times exceed the total premiums paid by the policyholder. It is strongly advised to find suitable coverage for all risks and damages which could cause you serious problems if you had to pay for them yourself. F AMILY I NSURANCE Family insurance coverage compensates damages caused to a third party in their private life, assuming the policyholder is responsible (i.e. broken window panes, a fall and property damage). The person who is liable is legally obliged to compensate the damage. The reparation is financial compensation, though the legal obligations can amount to large payments. In basic terms, the insurance company covers the financial compensation owed to the victim by the person who is insured. A DDITIONAL C AR I NSURANCE (O MNIUM ) Mandatory car insurance does not cover damages to the vehicule of the driver responsible for the accident. Non-compulsory insurance, called OMNIUM in Belgium (from the Latin meaning ‘all’, thus ‘All-Risk’ insurance) is available at an additional cost and covers the costs of the insured vehicule (or its loss), regardless of whether the policyholder is responsible for the damages, as outlined in the policy. Each insurance company is free to set the terms and rates of their policies. There are two common options: a ‘Mini Omnium’ or a ‘Full Omnium’, with a range of coverage depending on the insurance company and the type of contract issued. The ‘Full Omnium’ is recommended for new vehicules but is not necessarily appropriate for an older car in poor condition.