Personal liability insurance is often included as part of a basic homeowners insurance policy and is designed to provide some protection against legal claims for damages or injuries sustained on the homeowner’s property. Understanding how personal liability insurance works can help Houston homeowners to ensure adequate coverage for their particular situations. Here are some of the most common questions about personal liability insurance coverage in Houston, Katy and The Woodlands, Texas.
What Is Covered Under My Homeowners Policy?
This varies from policy to policy. Most homeowners insurance policies include a specific dollar amount of personal liability protection that covers medical expenses and property damage costs. Depending on the value of your home and your preferences, this coverage can range from a few hundred thousand dollars to one million or more.
What is NOT Covered by My Homeowners Insurance?
Deliberate acts, crimes, and accidents that occur as a result of business activities are not covered by personal liability insurance. Any financial liabilities that exceed the specified amount of coverage provided under your home insurance policy will not be covered by your insurer unless you have made arrangements for extra insurance. In most cases, amounts not covered by insurance payments must be paid by the owner of the property. Liability cases can sometimes add up to multi-million dollar settlements for victims of accidents. Taking steps to obtain supplementary liability insurance can be a valuable investment in your financial future and can protect you from the catastrophic costs of major liability lawsuits and settlements.
What Are Umbrella Policies?
One way to add to your overall liability protection is to sign up for umbrella policies that cover your home and your vehicle. If you are found responsible for an accident or for damages that exceed the coverage available from your home or auto insurance policy, the umbrella protection can serve as a buffer to provide added coverage when it is needed most. Umbrella policies are designed specifically to augment larger coverage amounts; as a result, you may need to upgrade your auto or home coverage to qualify for the highest levels of umbrella insurance protection.
As a professional insurance consultant and agent, Jay A. Harris specializes in providing insurance solutions for Sugar Land residents and homeowners in the Houston, Katy and The Woodlands areas of Texas. Jay can provide added information on personal liability insurance coverage and limits, umbrella policies, and other coverage that can protect Texas residents from serious liability issues and ensure brighter and more stable financial futures for his clients.