What you need to know about the liability protection offered in your homeowners insurance policy.
As a homeowner, one of the most significant risks you face is the chance of a liability event taking place inside your home or on your property. While every standard homeowners insurance policy offers coverage for personal liability claims, this coverage is subject to certain limits. This, of course, begs the question: “Do I have enough personal liability coverage?” Here are some things to consider when it comes to your personal liability insurance.
Do I have enough personal liability coverage?
Unlike auto insurance, there is no required minimum liability coverage that a homeowner needs to carry. However, there are still recommended amounts of this coverage that you’re encouraged to have. The amount of personal liability coverage you should carry is dependent on a variety of personal factors. For instance, you should increase your liability coverage along with your income, investments, and property value. If you have a pet, a swimming pool, trampoline, or other special home features, this will also mean that you should secure increased personal liability coverage amounts. For assistance with nailing down exactly how much coverage you need, speak to a trusted agent today.
How can I secure additional liability coverage?
There are different ways you can secure the additional liability protections that you need. For instance, you can simply adjust your coverage limits on your existing homeowners policy. This method really only works if you need to increase your liability coverage slightly. If you need to secure a considerable amount of extra coverage, then you should secure a personal umbrella policy. This type of insurance provides liability coverage that extends beyond the coverage offered by your existing policies. Securing umbrella insurance is a great way to get the comprehensive liability coverage you need.
This is what you need to know about the liability coverage provided in your standard homeowners insurance. Do you have additional questions regarding your home coverage? If so, contact the team at Pierce Insurance Group. Our expert agents are ready to assist you with all your coverage needs today.