Exploring Personal Liability Coverage in Your Homeowners Insurance

The liability coverage in your homeowners insurance policy can protect you in emergency situations. If the injured party pursues litigation, liability coverage will take care of your legal costs. Here is a look at the different benefits of personal liability coverage.

Personal Liability Coverage Explained

Imagine bringing home a new pet. While everything is fun and exciting, one day, your pet has a bad attitude. While you are walking your dog, they slip away from you and bite one of your neighbors. Or, maybe your child is playing in the backyard and they accidentally hit a baseball and crack your neighbor's window or put a dent in their house. In both of these scenarios, your neighbor may opt to sue you. If found guilty, you would be responsible for the medical and legal costs. Personal liability coverage protects you from paying for the repairs and medical bills out of your own pocket.

If someone gets injured while visiting your property, liability coverage will pay for any legal bills or a settlement based on your liability coverage amount. Liability coverage also pays for the injured party's lost wages if they are unable to work following the injuries sustained on your property. Personal liability coverage also takes care of any issues that may arise while you are away from your home. A common example would be if your child gets into a fight at school and injures another student. Liability coverage will take care of the medical bills. You should also be aware that personal liability coverage also includes a death benefit if one of your loved ones is accidentally killed at your home. You can also add personal liability coverage to your renters and condo insurance policies.

Potential Gaps in Your Personal Liability Coverage

As you research liability coverage, be aware that there are some instances where you'll have a gap in your coverage. If you are involved in a serious auto accident and someone gets injured, the liability coverage in your auto insurance policy should protect you. If you are injured at home, personal liability coverage will not protect you. If you cause intentional damage to someone or their property, you are not covered. Also, you cannot use personal liability coverage to cover any issues related to your job. Even if you are working from home, you'll need to pursue commercial insurance.

Extra Coverage

If you have a lot of assets, you should consider adding extra liability insurance. The more assets you have, the more attractive you become as a potential lawsuit target. If you have a swimming pool or trampoline in your backyard, you should consider adding extra coverage. Swimming pools and trampoline are high-risk accessories. The likelihood of someone getting injured while using these items is relatively high, and there is even a chance of accidental death. If you host a lot of parties at your home, you should also consider adding extra liability coverage. If you occasionally serve alcohol at your parties, you may be held responsible for the actions of your guests. If one of your guests gets drunk and causes property damage or hits someone with a vehicle, you could face serious litigation. You should also consider adding umbrella insurance.

Personal liability coverage can prevent you from losing your assets in a lawsuit. If you have any questions about homeowners insurance policies,  contact the experts at Club Agency Insurance Brokerage in Garden City, New York today. We are here to assist you with all your coverage needs.