You'll be redirected in a few seconds. Please don't exit this window.
If you are not redirected within 30 seconds, please click here to continue.
If you are not redirected within 30 seconds, please click here to continue.
If you are not redirected within 30 seconds, please click here to continue.
If you are not redirected within 30 seconds, please click here to continue.
Updated
By most accounts, your home is the biggest investment you will ever make. Protecting it from damage, loss of possessions or other unforeseen problems is priority-one.
However, beyond the physical structure, you’ll want to protect yourself in case someone is injured on your property. That’s personal liability insurance. Most basic home insurance plans offer personal liability insurance, but the amount and coverage will depend on your needs.
There are two types of liability insurance to consider:
Bodily injury coverage can help you cover costs for medical expenses for injuries that occurred on or within your property. For example, if someone slips and falls on your property, your personal liability coverage would cover medical expenses up to the coverage limits.
Property damage coverage is used if you or a family member causes damage to someone else’s property, say a neighbour’s window is broken by your kids, for example.
Personal liability insurance covers claims of bodily injury and property damage, such as: medical bills, legal expenses resulting from lawsuits, damages that result from negligent acts and injury or property damage caused by your pets.
Most personal liability insurance policies provide $100,000 of coverage, by default.
While $100,000 may not seem like a lot of money, it may be the limit your budget can handle for now. It’s best to think about future assets and how you might be affected financially should a personal liability injury or damage claim be made against you. Claims might be higher than anticipated and taking out more coverage today could save you money down the road.
Personal liability insurance will not cover everything. For example:
Personal liability claims most often have to do with the following types of incidents:
There are three main components of liability protection, they include:
Yes. Auto insurance is specific to auto accidents and only protects you in those circumstances. Home personal liability insurance relates to home injuries and/or damages.
Stay on top of our latest offers, relevant news and tips!
