There are many ways to protect your home. At the heart of the process is the need to protect the actual belongings you own including the home itself. Home insurance does that through property insurance. However, other risks exist for any homeowner including the risk that you could face a lawsuit if someone is hurt on your property and you are found to be at fault for it. This is why every property owner needs to have ample liability insurance.
What Are Liability Risks at a Home?
You may believe your home is safe. You take every step possible to keep your home safe including keeping it clean, organized and locked up. Yet, even in these situations, there are risks that homeowners cannot avoid that can lead to a sizable financial loss if a lawsuit occurred. Here are some examples.
A friend is visiting your home. He or she slips and falls on the flooring. This leads to an injury requiring medical care. Those medical bills are a liability to you that your home insurance may minimize.
Your child’s friend is visiting your home and falls. He’s hurt badly because of a hit to the head. He requires surgical procedures and a long hospital stay. Those may be your medical bills to pay as well. Liability insurance can help you here as well.
Someone comes to your home to make repairs. While there, the individual is hurt on the job. The company doing the work does not have adequate insurance in place. This leaves you, the homeowner, at risk as well.
It is important to take steps to reduce the risks in your home. You can do this by:
Keeping your home clutter-free.
Removing anything from the floor that could cause someone to be hurt.
Reduce risks outside as well, such as tree limbs hanging into someone else’s area.
It’s important to be vigilant about these risks of risks because they can lead to a significant lawsuit in many cases. Yet, you cannot prevent them all from happening. This is why your home insurance needs to also include a liability component. It needs to protect you from risks associated with what you cannot prevent from occurring.