Family In Front Of Home

There is a great deal to consider when reviewing liability coverage. If someone comes into your home and slips, injuries may be a result of this incident. If the person files a lawsuit against you and you lose the case, you may have to pay that person money for those injuries. This means you are "liable."

Liability coverage in your policy does several things. Most obviously, it pays the damages that are awarded to the other person when you are found to be liable for bodily injuries or property damage. The maximum amount the policy pays is shown on your policy's declarations page.

The policy also pays for the cost of an attorney to defend you, with no limit, and any other court costs associated with the suit. The basic limit of liability coverage that is included in a homeowner or tenant policy is $100,000. Higher limits are available for an additional charge.

So how much coverage should you purchase? In theory, you need to buy coverage that covers any potential lawsuit. Of course, you'll never know the actual amount of protection necessary, so I recommend purchasing as much coverage as your budget allows. The primary objective when purchasing liability coverage is to protect your assets: the value of your property, your current and future earnings, and all assets you may own. In many cases, securing what is commonly referred to as an Umbrella Policy is necessary for higher limits of coverage.

Contact The Coleman Agency today to review your exposure and plan to protect your future.

Contact Us

Posted 12:00 PM

Share |


No Comments


Post a Comment
Name
Required
E-Mail
Required (Not Displayed)
Comment
Required


All comments are moderated and stripped of HTML.
Submission Validation
Required
CAPTCHA
Change the CAPTCHA codeSpeak the CAPTCHA code
 
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2019
  • 2018


View Mobile Version
Facebook
Twitter
Google+
LinkedIn
IIATC

© Copyright 2019. All rights reserved. Powered by Insurance Website Builder.