TLTR: This article dives into the basics of personal liability insurance, its coverages, and where you can get it from.
According to Investopedia, “Personal liability insurance protects you and members of the your household against claims resulting from injuries and damage to other people or their property.”.
Simply put, personal liability is your legal liability to compensate others for bodily injuries or property damages caused by you. It covers your legal and settlement expenses following such events. Moreover, the coverage is excellent at protecting you and your family members.
Thinking about getting personal liability insurance today? Well, before you do, we suggest you read everything here.
Getting the Coverage
You can generally get personal liability coverage packaged with your homeowners, dwelling, or renter’s policy. However, you will opt for a standalone policy or add the coverage in your other existing policies. An insurance expert can help you decide the best option and the right coverage amount.
Personal Liability Insurance Covers:
- Lawsuit expenses due to accidents, bodily injury, or property damage caused to others due to your fault.
- Legal defense fees whether or not you’re at fault for third-party injury or damages.
- You and your family’s negligence led to losses to others.
- Medical expenses if your pet bites visitors
The insurance offers many other coverages depending on the policy you buy. Hence, it would help if you were careful while choosing the policy that’s rightly fitting to your needs.
Why Personal Liability Insurance?
By and large, you can be liable for hefty expenses in many situations. Some being situations like your dog biting your mailman or a visitor slips and getting injured. Hence, it’s why you need personal liability insurance to keep such costs out the doors.
Has this article been helpful to you? Leave a comment below and share your thoughts with us.
Speak with a local insurance agent to discover your best coverage options.
Frequently Asked Question
What is The Difference Between Personal Liability and Public Liability?
Personal liablity primarily covers claims made against you by a third party for physical injury or property damage. Whereas, public liability is the commercial version of personal liability insurance which covers your business against any claims by a third party for injury or property damage.
Is Personal Liability Insurance Required at Work?
As an employee, your workplace should have a public liability insurance to cover for any injuries and accidents that may occur at work.
Can I Purchase Personal Liability Insurance Separately?
Yes, personal liability insurance can be purchased separately. But mostly, it comes included in a standard homeowners insurance policy.
February 9th, 2023 · 3 read
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