Personal Liability Insurance What is Personal Liability Insurance? Well in a nutshell it is protection from a financial loss arising out of a liability claim.
Now one might ask what is Liability, and how would such a claim accrue? Well it can incur as a result of actions or inactions toward other people or their property, and a liability loss occurs when a person is held responsible or liable for that loss and is required to make financial restitution.
In today's world this can happen very easy and it is just as easy to put something in place to protect yourself and family if something like this happened to you.
You might even have an insurance policy in place right now that provides you with this coverage and not even know it or if you have enough coverage for your needs.
Yes if you own a Home and have Homeowners Insurance or even if you Rent and have a Renters Insurance policy you have liability coverage, but is it enough? With my experience in this field I believe that people are underinsured and this coverage does not usually dictate the cost factor of the policy.
This means the coverage is very affordable compared to the limit of coverage.
Your next question may be--Why are people underinsured? The answer is that they are not being educated about what this protection is or how it can help, and their policy was not tailored to suite their needs.
So the next time you have your Personal Insurance review with your Agent ask about this coverage and see if you have enough coverage if you own a pool have a party and someone gets hurt and you are held liable.
Or if you own a puppy and it decides to bite someone - are you covered? To think of do not wait for them to call you.
Be proactive and call yourself and see where you are at when it comes to Personal Liability Insurance.