understanding your personal liability coverage

What You Should Know About Your Personal Liability Insurance

Understanding your personal liability coverage needs.

Personal liability issues are among the most serious and expensive claims that a homeowner can face.  Fortunately, standard homeowners insurance in Plano, Texas offers some personal liability protection.  But what exactly does personal liability insurance cover and are your coverage limits high enough to protect against your risks?  To help you understand, here are some of the answers to the most common personal liability questions.

What Does Personal Liability Insurance Cover?

Personal liability issues arise when a third-party injures themselves or sustains damages while on your property.  You can also experience liability issues when you or a member of your household is found legally responsible for causing injuries, damages, or other losses to another party.  In the face of a personal liability issue, your insurance will offer coverage for third-party medical treatments, property damages, and the cost of your legal defense if you are sued.

How Much Coverage Do I Need?

Your personal liability insurance is designed to protect your financial assets from costly liability claims and lawsuits.  This is why you should carry enough liability insurance to protect the value of your assets, including the following:

  • The money in your checking and savings account
  • Your investments
  • Your retirement funds
  • Your valuables
  • Any property that you own (including your home)

If you need help determining the value of your assets or determining how much personal liability coverage that you need, then seek assistance from your financial advisor or insurance agent.

Can I Secure Additional Coverage?

If your homeowners insurance policy cannot offer you all the personal liability coverage that you need, then you can secure additional protection with a personal umbrella policy.  These types of policies offer liability coverage to fill the gaps left by your other personal policies (home, auto, etc.).  Securing an umbrella policy will ensure that you have the comprehensive personal liability protection that you need.

This is what you need to know about your personal liability coverage.  Do you have additional questions regarding your homeowners insurance in Plano, Texas?  If so, then contact the experts at Tri-Star Insurance/HUB International.  Our professional team is ready to assist you with all your coverage needs today.