A typical home insurance policy includes two important components: coverage for your property and belongings and liability coverage. The former is designed to replace or repair your home and your furniture, appliances, personal belongings, and more in case of a fire or other form of damage. The latter is a bit more complicated, as far as coverage is concerned, but, as you’ll see below, it protects you in a number of ways.
So, what does liability coverage do? And why is it so important? We’ll go over the many reasons why this type of insurance is a game-changer.
What is Liability Coverage?
This type of insurance lives up to its title, as it provides coverage for things that you could be found liable for, like accidents and dog bites. If something happens and you are indeed found liable for the incident, then the liability part of your insurance coverage can kick in and pay for everything from repair costs to medical expenses and even missed wages.
What Does Liability Insurance Cover?
Liability insurance is designed to pay for things that happen in and around your home, like those in your yard, surrounding neighbor’s houses, and even inside of your house. The main incidents that it covers include:
- Injuries Caused by Animals – If you have dogs, cats, or any other types of pets, you run the risk of them biting or scratching people. For example, if you’re out walking your dog, and a child runs up and gets bitten by your pup, then you could be found liable for the child’s medical expenses. Your liability insurance will cover this.
- Accidents Caused by Kids – Children can be accidentally destructive. If one of your kids is out playing in your backyard and accidentally sends a baseball through one of your next-door neighbor’s windows, then you are more than likely responsible for the costs of the repairs, as well as a new window. Your liability insurance should cover all of the expenses.
- Slip and Fall Accidents Found to Be Your Fault – Sometimes, a slip and fall accident is just that: an accident. However, there are times when these incidents can be found to be caused by negligence. For example, if you know that there’s a loose step that you haven’t gotten around to fixing and one of your guests slips on it and breaks their leg, then you could be at fault and have to pay for their medical bills. Once again, this is where your liability insurance will come into play.
Things Not Covered by Liability Insurance
Although liability insurance covers a number of different situations, there are some that the policy won’t be able to help you with. If you or someone else who resides in your home gets hurt, then your health insurance will have to pay for your medical costs, not your liability insurance. The policy will only take care of visitors to your home, should they get hurt inside or in the yard outside.
Have Questions? Contact Charlotte Insurance
Want to learn more about home liability insurance and if you need additional coverage? Contact Charlotte Insurance. Our agents can explore and explain all available options to you and put together the liability coverage plan you need.