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4 Personal Liability Insurance FAQs

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4 Personal Liability Insurance FAQs

At some point in your life, you’ve probably experienced some sort of property damage. After all, accidents happen.

But what if you find yourself liable for an accident? Your homeowners or renters insurance can give you financial protection in many cases, which is often referred to as personal liability coverage.

1. What does personal liability insurance cover?
This insurance can help cover the costs of lawsuits, property damage or medical bills that occur as the result of an accident. It can help if someone gets hurt on your property.

But this type of coverage does have its limits. For example, it will not provide coverage for harm intentionally inflicted on someone in your home. You may also need auto liability insurance for similar coverage in a car accident.

2. Who needs personal liability insurance?
Personal liability coverage is a good layer of financial protection for anyone who has assets. It can help protect you from bearing the full responsibility for lawsuits and medical bills.

3. How much personal liability coverage do you need?
This coverage has a dollar limit, and any liability that goes beyond that amount could become your personal responsibility. Choosing a coverage amount depends on your level of risk and the assets you want to protect. Reach out to discuss your situation.

4. How much does personal liability insurance cost?
Personal liability coverage is usually included with your homeowners and renters insurance policies (and maybe even your auto policy). In many cases, adding more personal liability coverage has a relatively small impact on your overall premium.

If you have questions about your insurance coverage, call or email us today so we can talk about your needs.