What is Personal Liability Insurance: First of thanks for landing on my website today i’m going to share with you What is Personal Liability Insurance if you have a car or if you want life insurance and you need to know about insurance so keep reading this article because we are going to discuss what is personal liability inusrance
What is Personal Liability Insurance
Personal liability occurs in the event an accident in or out of your home the results in bodily injuries or property damage that you are held legally responsible for. Personal liability claims could include medicals bills legal fees and more if you are guest is injured in your property as well as coverage for accidental damage that you legally responsible for on someone else property. If you have personal liability insurance you may be able to avoid paying out of pocket of incidents like these up to your coverage limits. That’s why personal liability is an important component of your homeowner insurance or rental insurance policy.
Know that you know the definition of personal liability insurance here’s the real life example let’s say a guest visit at your house and while walking through garage is hit by a falling ladder the guest suffer a broken arm and sues you for damages which can be thousands of dollars this is where personal liability insurance kick in personal liability insurance will cover the all medicals bills which is in thousands of dollars. However personal liability coverage may also may be able to cover an accident the occurs outside your home or property.
What is personal liability insurance covers
Under your basis homeowners insurance or renters insurance policy personal liability insurance may cover you under the following circumstances.
01. Lawsuit you may face if an accident occurs.
02. Bodily injury to an individual
03. Property damage that occurs as the result of your negligence
If the liability limits of your policies don’t meet with your needs you may want to consider additional coverage such as Umbrella Insurance which provides extra layers of your personal liability insurance policy. This will help to cover cost if the serious auto accident or accident on your home or property that exceed the limits of your personal liability insurance policies.
What is not covered by personal liability insurance.
01. Liability resulting from an automobile accident this will be typically covered by your personal auto insurance.
02. Bodily injury or property damage caused intentionally by you or family member in your home.
03. Injuries or damages sustained by you or by any family members in your home.
04. Business activities or claims related to your profession.
Be sure to carefully review your home or renters policies so that you have a solid understanding of what is and isn’t covered by personal liability insurance. If you currently don’t have any type of insurance go to Insurance Guide and read more about which insurance policy you want to purchase.
Go to Daily Updates Forum for more about insurance and all types of auto vehicles reviews, guide and many more.
Give us your Feedback about this article “What is Personal Liability Insurance” in below Comments Section.