What Homeowners Should Know About Liability Insurance

Although owning a home is truly the American Dream, ownership comes with certain liabilities, such as your personal responsibility for incidents that occur on your property. Personal liability insurance included in your homeowners insurance in Antioch, CA and protects your pocket from paying out if someone is injured or their property is damaged because of your negligence. To help you determine if you have the necessary coverage for your needs, read on.

 Homeowner Liability Facts

• Property owners must keep their property safe. Even if a trespasser gets injured, you could be held liable.
• A homeowner may be held liable for any dangerous conditions that are unrepaired.
• A homeowner is responsible for everything that could cause harm to a visitor, such as a slippery walkway, a loose railing, or gardening tools left out.
• Some features are riskier - such as owning a hot tub, swing set, or owning a œdangerous breed of dog such as a pit bull.

As a property owner, it is your responsibility to ensure that your property is safe for all guests. After all, you can be held accountable if anything happens on your property. If someone slips and falls or injures themselves, you could be looking at paying their medical bills, rehabilitation costs, and their lost wages. What's more, if they decide to sue, you could be facing high legal expenses.

Your homeowners insurance will have a liability limit set at the time of purchase, usually anywhere between $100,000 and $300,000. Keep in mind that if someone files a large lawsuit against you, the legal claim could exceed your coverage, meaning you are on the hook to cover the remaining expenses. If you have items of high risk, such as a pool, hot tub, swing set, or a dog, it is worth considering additional coverage.

To protect your assets, you can either:

• Increase your current homeowners liability coverage to help cover the cost of a large legal claim, property damage, and medical expenses.
• Purchase an umbrella policy that kicks in once your current home liability has been exhausted.

Talk to your insurer to determine if you need additional liability coverage to protect your assets. Get started by contacting the team at Jack Stone Insurance Agency in California to find your suitable home insurance.