Why Liability Insurance is Important as a Homeowner

Looking at your homeowner’s insurance policy is absolutely critical. Every insurance company may provide different levels of coverage. While there are certain standards, you want to pay specific attention to liability insurance. This will provide you with the coverage in the event something happens on your property.

Why is liability insurance so important?

We live in a sue-happy society. Essentially, this means that people feel comfortable suing over the smallest things. Should someone become injured on your property, they may decide to sue for medical coverage as well as for pain and suffering.

The lawsuit could come from anyone - A neighbor, a friend, a contractor, even a family member. This could cost you a significant amount of money. However, if you have liability insurance in Ponte Vedra Beach, you don't have to worry about it as much. This is because your insurance company would provide the financial protection for you. Without the coverage, you could end up spending this money out of pocket – and it may be enough to bankrupt you.

Ultimately, this form of coverage is all about protection. Anyone can enjoy themselves at any time. It can also provide coverage in the event that someone from your property damages someone else’s property. For example, you could be throwing the ball around and it takes out your neighbor’s window. Or, you back out of your driveway and into the car of someone who is also parked in your driveway.

Various forms of coverage

Your home insurance in Ponte Vedra Beach is going to provide at least some liability insurance. You want to look at the dollar amount as well as the various instances in which they would cover a claim. The average homeowner’s policy is going to provide a minimum of $100,000 in personal liability coverage. This means they would pay up to this amount in total per accident towards the injured person or persons. It will also cover medical payments to others within the policy, though you can control how much coverage you actually obtained.

What is really important is to look at the different exclusions. A homeowner’s policy can vary from company to company. As a homeowner, you are legally responsible if bodily injury or property damage takes place. Exclusions may include if someone gets into an accident after leaving your home if they have been drinking, intentional acts were someone intends to injure themselves, injuries pertaining to a home-based business, as well as home day care.

To ensure that you have the necessary liability coverage on your policy, you will want to talk to an insurance agent. This will give you the opportunity to discuss what is and is not covered and seek the necessary coverage. You can then get quotes to learn what the costs associated with the policy are going to be.