What is Personal Liability?
Boom, crash. You look outside your window and there is your son, little Johnny with a baseball bat standing outside of your neighbor’s house, glass everywhere and a baseball-sized hole through their window. You immediately think, oh lord, how am I going to pay for this. But then you remember, you don’t have to worry, because you are covered by personal liability insurance.
Personal liability insurance protects your household, even including your furry friends, against fees pertaining to lawsuits, property damage or bodily injury in the case of an accident that you are legally responsible for.
How much personal liability insurance should I have?
At the absolute minimum, you should have $100,000 in coverage. However, experts recommend $300,000 worth of coverage. But the safest bet would be to purchase an umbrella policy that covers $1 million worth of coverage.
Just remember: personal liability insurance is an essential part of homeowners insurance and without it, you could pay hundreds of thousands of dollars without any support. Play it smart and upgrade your coverage today.
What does personal liability insurance cover?
Whether it’s a guest slipping and getting hurt, or crashing your car into the neighbor’s mailbox or even medical bills in the case of a dog bite, personal liability insurance will offer you financial protection.
Here are just a few examples:
- Medical bills if a guest is injured on your property due to you, a household member or even your pet
- Legal expenses in case of a lawsuit due to property damage or bodily injury