do i have enough liability coverage

What You Need to Know About Your Personal Liability Insurance

Do you have enough personal liability protection?

While you know that your homeowners insurance in Miami, Florida offers coverage for the physical damages and losses that your home and personal belongings face, did you know that your policy also provides personal liability coverage? Personal liability insurance can be used when you are found responsible for third-party injuries or property damage. As liability claims are some of the most expensive that you can face, having comprehensive liability coverage is incredibly important. But how do you know if you have enough coverage and what can you do if you don’t? Here’s what you need to know about your personal liability insurance.

How Much Do I Need?

When it comes down to it, there is no minimum amount of personal liability insurance you are required to carry. Your recommended coverage amount is dependent on a variety of individual factors. For instance, if you have a pet, a trampoline, or swimming pool in your yard, your liability coverage will need to be on the higher side. Additionally, your liability coverage amounts should increase along with your income, investments, and property value. While the liability coverage included in your standard homeowners policy might be enough to meet your risks now, there’s a chance that you will have to secure additional coverage in the future. To determine how much coverage you actually need, speak to a trusted agent today.

How Can I Secure Additional Coverage?

If you need more liability protection than your homeowners insurance is currently offering, you do have some options. If you only need to increase your coverage limits slightly, you can simply raise the liability coverage limits on your policy. However, if you want to secure a more significant amount of coverage, you may want to invest in a personal umbrella policy. This type of policy provides excess liability coverage, meaning that your umbrella policy will offer coverage in the event that a claim is not covered under your homeowners policy, or if the cost of the claim exceeds your homeowners coverage limits.

This is what you need to know about your personal liability insurance. Do you have additional questions regarding your liability or your homeowners insurance in Miami, Florida? If so, contact the experts at AllStar Direct Insurance & Financial Services today.

December 11, 2018

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