Though it might not be top of mind when you think of homeowners insurance, a large part of your policy should be dedicated to home insurance liability. When you own a home, you’ll probably entertain guests now and then, and have maintenance people and other staff over to perform miscellaneous tasks around the house. If any of these people are injured while on your property, your finances could be at risk. As the homeowner, you are considered responsible for providing a safe environment for others to enter your property, and in the event of an injury, you’re the liable party.
Home insurance liability coverage offers two types of protection:
- Legal protection: if somebody who was injured while on your property sues you, your home liability insurance will cover the costs of your legal representation in mediation or in court. The limits of this type of coverage are usually on a “per occurrence” basis, so you’ll have to review your policy to find out how much coverage you have.
- Medical payments: if the other person is hurt, they’ll need medical attention. But if you wind up paying all of the bills for emergency services, x-rays, hospitalization, doctor’s bills and medicine, you could be in over your head – unless you have home insurance liability coverage, which is specifically designed to pay for these types of expenses.
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