Get Coverage by Personal Liability Insurance
What would you do if someone got injured because of your negligence? If you are in an accident that causes bodily injury or property damage to someone else you could be held liable, which is why it is important to carry adequate liability insurance.
Automobile liability insurance has two components: Bodily Injury Coverage and Property Damage Coverage. These cover injuries or damage to other people or property if you are involved in an accident.
A property policy will also include Personal Liability coverage that would cover you if you were held liable for bodily injury or property damage unintentionally caused to others anywhere in the world. For example, if a visitor slipped on your icy sidewalk and got injured you may be held responsible. If you were found negligent, your personal liability coverage would cover the damages resulting from the injury up to your liability limits shown on your policy.
Your insurance company will provide a defense and cover the costs of that defense in the event you are sued. Law suits have been increasing over the years and one million or two million limits may not be enough. If you are sued for more than the limits on your policy, will you be responsible for anything over and above that limit. On an automobile policy the cost to increase your liability limit from one million to two million can be as low as $40 annually per vehicle. The cost to increase your liability limit from one million to two million on a property policy is approximately $30 annually. The peace of mind you will gain from purchasing higher liability limits far outweigh the small cost to do so.
– Written by our brokers Sandy and Kari.
This blog is provided for information only and is not a substitute for professional advice. Please call our Morison Insurance brokers at 1-800-463-8074 for more information.