Liability Protection

We have talked about liability protection in a previous blog but we wanted to reiterate some of the information that was mentioned.

Liability insurance, by definition, is a part of the general insurance system of risk financing to protect the purchaser from the risks of liabilities imposed by lawsuits and similar claims. It protects the insured in the event he or she is sued for claims that come within the coverage of the insurance policy.

The first question to ask is….

1. Do I have enough liability insurance?

Renters insurance provides liability protection that covers you against lawsuits for bodily injury or property damage done by you, your family members and even your pets. This coverage pays for both the cost of defending you in court and court awards—up to the limit of your policy. Make sure the amount of liability coverage provided by your policy is sufficient to protect your assets.

Your renters policy should also include no-fault medical coverage as part of the liability protection. Medical payments coverage allows someone who gets injured on your property to simply submit his or her medical bills directly to your insurance company so the bills can be paid without resorting to a lawsuit.

2. Do I need an umbrella liability policy?

If you need a larger amount of liability protection, consider purchasing a personal umbrella liability policy. An umbrella policy kicks in when you reach the limit on the underlying liability coverage provided by your renters or auto policy. It will also cover you for things such as libel and slander

If you have any more questions about liability insurance or protection, please feel free to give us a call any weekday from 9:00 AM-5:00PM at (843) 399-0822. We look forward to hearing from you!

www.Facebook.com/crescentcoastinsurance 

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