A Personal Insurance Update

Most people never actually read their homeowner’s insurance policy.  We agree insurance policies are difficult to read and understand unless you are in the insurance business.  Nevertheless, we do recommend that you read your policy.  If you have any questions call our office, as we are happy to help you.  

The liability portion of your renters’ or homeowner’s coverage will be similar, so both renters and homeowners should pay attention.

The personal liability section of a renter’ or homeowner’s policy protects against accidents or injuries for which you may be liable that occur in, on, or around, your premises.  The policy covers bodily injury, personal injury, and property damage.

Liability is defined as a legal obligation to another party.  A renter or homeowner can be held legally responsible for injury or damages caused to another party at your home or apartment.  You will only be held accountable (liable) for an accident, injury, or property damage if you caused the accident, or if you failed to ensure that your home was in safe condition.  The policy states that it will pay on behalf of the homeowner for damages that are covered under the policy.

Personal Insurance May Cover:

         Trip and falls

         Your child accidentally throwing a ball through your neighbor’s window

         Dog bites

         Food poisoning at a neighborhood barbecue

         Accidentally causing damage to your hotel room while on vacation

         Libel and slander

What to Do in the Event of a Claim

The first thing you need to do is contact your agent and insurance company.  You must cooperate with the insurer and any representatives during the investigation.  Never agree to settle or use your funds to pay for medical bills or damages.

Final Thoughts About Personal Liability Insurance

It is a necessity in today’s world.  Personal liability insurance is very cost-effective, and we recommend it to everyone.

While it may not be required, it certainly will help protect your assets in the event you are involved in litigation or cause serious injury to another person.




Posted 8:04 AM

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