Most people think of homeownerâ€™s insurance as something that only protects the home from disasters like fire, theft, or certain natural disasters. While homeownerâ€™s insurance does provide that coverage, it also protects the homeowner by providing liability coverage.
â€œLiabilityâ€ refers to when you are found to be legally responsible for another personâ€™s loss and required to compensate that person. In the world of homeownerâ€™s insurance, you can be held liable if someone is hurt on your property. Unfortunately, this can happen in a variety of ways, such as a kitchen accident, slip and fall, dog bite, etc.
The liability coverage that comes with a standard homeownerâ€™s insurance policy may be sufficient protection. However, it would be prudent to measure your level of risk and decide if additional liability insurance would be a good investment. You can get an idea of your liability risk level by considering potentially dangerous areas of your home and how often you have guests. Some things like pools, uneven yard terrain, aggressive pets, and hosting numerous parties can increase the chances that youâ€™ll make a liability claim.
To determine available liability limits and coverage, contact an AIS representative today.
This content is offered for educational purposes only and does not represent contractual agreements. The definitions, terms and coverages in a given policy may be different than those suggested here and such policy will be governed by the language contained therein. No warranty or appropriateness for a specific purpose is expressed or implied.