Does My Home Insurance Offer Enough Liability Coverage?

Is your home policy providing enough personal liability protection?

As a homeowner, one of the most serious threats that you face is the risk of a personal liability claim.  While your homeowners insurance in Carrollton, Texas offers some liability coverage to protect your assets, this coverage may not be enough.  Here’s what you should know about the personal liability coverage included in your home insurance policy.

  • What is personal liability?

Personal liability refers to your legal obligation to ensure that your property is safe.  Because it is your responsibility to ensure that your home and property are safe, you will be held accountable for the accidents, injuries, and property damage that that place on it.

  • What is personal liability insurance?

The personal liability section of your homeowners insurance is designed to protect your assets in the event that a third-party incurs losses on your property or in the event that you or a member of your household is found responsible for causing third-party losses.  Your liability insurance will cover the cost of the affected party’s medical treatment and the cost of their property repairs or replacement.  Should the affected party decide to sue, then your liability insurance will cover the expenses associated with your legal defense.

  • Do I have enough liability coverage?

Personal liability insurance is designed to protect your financial assets, such as your savings, investments, retirement funds, valuables, and any property under your ownership.  To ensure that you have an adequate amount of protection, your liability coverage limits should be high enough to protect the value of these assets.  Oftentimes, the liability protection offered by your home insurance will not be enough to address all your needs.  Fortunately, you have the ability to get excess liability coverage by securing a home insurance endorsement or a personal umbrella policy.  To find out how much personal liability insurance you really need, you should speak to a trusted insurance expert.

This is what you need to know about the liability coverage offered in your homeowners insurance in Carrollton, Texas.  Do you have additional questions regarding your home policy?  If so, then contact the experts at Mike Leonard Insurance Agency.  Our dedicated team is eager to find you the right coverage from one of our many carriers including: Kemper, MetLife, Nationwide, Travelers, The Hartford, Safeco Insurance, Progressive, and American Strategic Insurance.