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PERSONAL LIABILITY INSURANCE

Personal liability insurance, often included in homeowners and renters insurance policies, provides financial protection in case you are found legally responsible for injuring someone or damaging their property. It covers legal costs, medical expenses, and damages up to the policy's limits.

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Personal Liability
COVERAGES

Bodily Injury Coverage

This part of personal liability insurance helps cover the costs if you are responsible for someone else's injuries. This may include medical expenses, pain and suffering, and lost wages.

Property Damage Coverage

If you accidentally damage someone else's property, such as their car or
belongings, personal liability insurance can help cover the repair or replacement costs.

Legal Defense Costs

Personal liability insurance covers the costs associated with defending yourself in a lawsuit. This includes attorney fees, court costs, and any settlements or judgments.

Occurrence Basis

Personal liability insurance is typically offered on an "occurrence" basis, meaning it covers incidents that occur during the policy period, regardless of when the claim is filed.

Worldwide Coverage

The coverage generally extends worldwide, meaning you are protected not only at home but also when traveling.

Additional Living Expenses (ALE)

If someone is injured on your property and you need to move out temporarily while repairs are made, personal liability insurance may cover additional living expenses, such as hotel costs.

Exclusions

Like any insurance policy, personal liability insurance has exclusions. Intentional acts, certain types of property damage, and business-related liabilities may be excluded.

Coverage Limits

Personal liability insurance has limits on how much it will pay. It's important to choose coverage limits that reflect your potential risk exposure.

Umbrella Insurance

For individuals with higher net worth or greater risk exposure, an umbrella insurance policy can be purchased to provide additional liability coverage beyond the limits of the standard homeowners or renters policy.

Medical Payments Coverage

Some personal liability policies include coverage for medical expenses incurred by someone who is injured on your property, regardless of fault.

Duty to Defend

In a liability insurance policy, the insurance company typically has a duty to defend the insured. This means the insurer is responsible for hiring and paying for an attorney to defend the insured in a covered lawsuit

Personal liability insurance is an essential component of homeowners and renters insurance policies. It helps protect your assets and financial well-being in the event that you are held responsible for accidental injuries or property damage. As with any insurance, it's important to carefully review the policy terms, understand the coverage provided, and ensure that the limits are appropriate for your needs.

Annagard Insurance Agency is always here for all your insurance needs. Please feel free to call us at any time, we will be delighted to speak with you.

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