Standard homeowners insurance in North Texas can be broken down into four major coverages: property, personal property, loss of use, and personal liability. The personal liability portion of your policy is what will offer coverage in the event that you are deemed responsible for third-party injuries or property damage. As personal liability claims are among the most expensive that a homeowner can face, it’s incredibly important to make sure that you have adequate coverage in place. But does your homeowners policy offer you enough protection? Here’s what you need to know about your personal liability coverage needs and how you can secure additional coverage if necessary.
There is no set amount of personal liability coverage that a homeowner should carry. Your coverage needs are determined by a series of personal factors. For instance, if you own a pet or have a pool or trampoline in your yard, then your liability risks are automatically higher than someone who does not. Naturally, you need higher liability coverage limits to address this increased risk. Additionally, you need to have enough coverage to account for your income, investments, and home property value as these are the assets that you are trying to protect. If you need help determining the amount of liability coverage you need, then speak to an experienced home insurance agent today.
If your existing homeowner insurance personal liability coverage limits are not high enough, then you have some options when it comes to securing additional coverage. If you only need to make minor adjustments to your coverage amount, then you can speak to your agent and increase the coverage limits on your homeowners insurance policy. However, if you need to secure a considerable amount of extra coverage, then you should secure a personal umbrella insurance policy. These policies offer coverage in the event that a claim is not covered or if a claim exceeds the coverage limits of your other policies. Securing umbrella insurance is a great way to fill your personal liability coverage gaps.
This is what you need to know about your personal liability coverage. Do you have further questions regarding your personal liability or homeowners insurance in Carrollton, Texas? 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.