If you are like most property owners, you probably have some sort of home insurance policy in place. But how carefully have you read your policy contract and how much do you know about what you are actually covered for outside of just damage to your home?
Here are three things to know about liability coverage portion of your policy and homeowners insurance.
#1: It Covers Medical Bills for Injured Guests
One of the most common reasons why people utilize the liability portion of their homeowners insurance is to cover medical bills for injured guests. Scenarios can range from a delivery person who trips on a rug and bumps their head to your child’s playmate falling off a swing set and breaking their arm. Liability coverage generally handles most reasonable healthcare bills for those who do not live in your household and experience an injury while on the premises.
#2: It Covers Instances Where Property is Damaged
Another thing to know about liability coverage on your home insurance policy is that it covers instances where property is damaged. Think of if your child accidentally throws a baseball through a neighbor’s window or an aging tree in your yard falls on a car parked in the street. While these instances don’t typically include an injury to another person, they do include something that will need repair. The liability portion of your insurance policy would cover the cost of most reasonable repairs.
#3: It Covers Events That Take Place Outside Your Household
There are a multitude of different examples showing how liability coverage takes care of incidents that happen outside your home. One scenario is where your normally friendly dog accidentally bites another person while at the park. Another is where your accident-prone college student accidentally destroys his on-campus roommate’s gaming laptop. While these are very specific situations, they very clearly illustrate how your homeowners insurance policy can help you even if the accident doesn’t happen directly on your property.
It is always important to talk to your agent regarding what your policy actually covers in terms of liability. Each insurance carrier sets their own guidelines for what is covered and what is not, so it is always important to review these details ahead of time to make sure you have the level of insurance you need.
For more information, please contact us today to schedule a no-obligation consultation.
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Rob Macoviak is the President of Oyer, Macoviak and Associates. Oyer, Macoviak and Associates is the oldest independent insurance agency in Boynton Beach and has been in business since 1953.