Homeowners Insurance without Liability Coverage A Major Risk

Aug. 10, 2009 - PRLog -- Chicago (InsuranceAgents.com) – Owning a home is a huge responsibility and could be a huge liability if homeowners don’t make sure they are properly protected. Liability coverage for your home will financially protect you against medical bills if you or someone else becomes injured on your property. And if another person decides to sue you because of their injuries, your liability coverage would also cover the legal fees associated with court hearings and settlements if you lose the case.

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In a recent posted article by InsuranceAgents.com, “Home Liability Insurance: Don’t Get The Minimum Coverage,” they explain how standard liability coverage is rarely enough to cover liability expenses. “Standard home liability insurance typically starts at a limit of about $100,000,” states the article, “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.” Many experts recommend homeowners to increase their liability coverage to at least $300,000, if not more, in order to make sure they are properly covered and wont have to make additional out of pock payments in a liability issue.

Homeowners are recommended to speak with their homeowners insurance agent and review their current homeowners insurance policy. Make sure your liability limit is not too low that it will negatively affect you in the future. Your homeowners insurance agent will help you decide on a good liability limit so you feel comfortable and are able to afford your premium.

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