When most people shop for insurance, they think general liability insurance is enough to provide the coverage they need. Unfortunately, not all liability insurance offers the protection homeowners need. Many homeowners don’t realize their mistake until disaster strikes and it is too late. For this reason, it is important to ensure your policy includes these basics.
Umbrella Coverage
Your insurance policy has limits to the amount it pays out for certain occurrences. Unfortunately, many lawsuits can quickly build up to costs beyond those limitations, creating financial difficulty, despite having the proper coverage. Adding umbrella coverage to your general liability insurance can expand your limits, helping you cover the expenses if something goes wrong. Even though adding this to your policy can increase your premiums, it is worth the additional cost if you find yourself in a situation to need it.
Hired Services
There are many reasons why you may need to hire someone to work on or around your home. Some homeowners hire regular services, such as a house cleaner, a nanny, or even an occasional babysitter. When these individuals are working at your home, you need to make sure you have the liability insurance coverage in place in the event an accident or other disaster occurs. If you intend to hire anyone to work around your home, make sure you discuss your options with your insurance provider. He will help you determine if you need additional coverage beyond what your typical policy provides. In some cases, your policy may be enough, but you don’t want to wait for an incident to happen before you find out.
Fun around the Home
Many homeowners add entertaining features to their yard or home for their children or even their own enjoyment. Whether you install a pool, a trampoline or other potentially dangerous piece of play equipment, it is important to make sure your general liability insurance covers these items. This is especially important if you plan to have anyone outside your immediate family use these features as well. In addition to having the proper amount of coverage in the event someone is injured while using a pool or other equipment, you also need to find out if you have the right amount of insurance to cover the cost of repairing or replacing these items if necessary. General liability insurance is an important aspect of your homeowner’s insurance policy. However, sometimes the level of coverage you have isn’t enough to handle the potential costs involved if disaster strikes. For this reason, it is important to talk to your insurance agent about the possibility of adding umbrella coverage to your policy. In addition to this type of coverage, discuss the potential of adding coverage for anyone you hire to work around your home, as well as any items you may add for your own enjoyment. Making sure you have the right amount of liability insurance coverage will ensure you are financially protected. If you want to make sure you have the right amount of general liability coverage for your home, contact us. We can help you evaluate your policy and make the right choices to protect you and your family.