Home Liability Insurance: Don't Get The Minimum Coverage

Standard Policies Don’t Reflect Your Home Liability Insurance Needs

By Meha Ahmad, InsuranceAgents.com Staff Writer

A person’s home is perhaps his greatest asset—but without the right coverage, it can also be a great liability. Without home liability insurance, homeowners are putting themselves at great financial risk. To reduce this risk by finding affordable home liability coverage, shop online using our free quote comparison service located here for homeowners insurance quotes today.

Furthermore, homeowners who do have home liability insurance included on their home policy would do well to review their coverage and make sure there is enough of it: too many homeowners make the mistake of settling for the standard home liability insurance limit.

Standard Home Liability Insurance Coverage and Limit

Standard home liability insurance typically starts at a limit of about $100,000. But consider what your home liability insurance covers. If someone is hurt on your property, you are held responsible for all expenses—and it can cost a lot more than $100,000.

If someone is harmed on your property (or sustains their own property damage), home liability insurance provides coverage in the following events:

• Repair/replacement costs to someone else’s property if it’s damaged
• Medical expenses of those who are harmed (keep in mind: even minor injuries can cost thousands of dollars.)
• Legal expenses (the cost of defending you in court and any court awards—or as much as your limit allows)

Raising The Limit

Some experts recommend at least $300,000 worth of home liability insurance on a homeowner’s policy; others recommend even more. Either way, it’s relatively inexpensive to add hundreds of thousands of dollars worth in home liability insurance to your policy. Increasing your limit from $300,000 to $500,000 can be as little as adding $15 to your premiums.

Another way to increase your home liability insurance coverage is by purchasing an umbrella/excess liability policy. It provides homeowners with broader coverage, protects them from libel and slander, and provides higher home liability insurance limits. An umbrella policy may provide about $1 million of supplemental liability protection for about $200-$300.

Find Out More

To get more information on home liability insurance limits and coverage details, talk to a homeowners insurance agent today. To get in touch with several agents, shop online using our quick quote forms for homeowners insurance quotes. That will alert multiple agents that you are shopping and that they may contact you to discuss coverage, services and rates.

Published: Monday 10th August 2009