Tag Archives: protecting your assets

Personal Liability Insurance – Why It’s Important

The fact the we have  become a litigious society has not been lost on many people.  I remember the floodgates opened for this when some clutz spilled hot coffee on herself – and was awarded around $6 million dollars!  Instead of crawling under a rock out of embarrassment, this coordinationally-challenged individual stood our legal system on its head.  And that where it’s been ever since.  So, what can you do to protect yourself?  The answer begins with a simple Personal Liability Insurance policy.  Basically, Liability Insurance is designed to cover you for acts of negligence that create a legal obligation to a third party.

Personal Liability Insurance can be purchased as a “stand-alone” policy or it comes as part of the following coverages:

1.  Homeowner’s.  Here Personal Liability awards are payments that the individual is legally obligated to make because of bodily injury or property damage.

2.  Automobile.  Here Personal Liability awards are payments that the individual is legally obligated to make because of bodily injury or property damage as a result of an auto accident.

3.  Watercraft.  Personal liability payments cover pain and suffering, disfigurement, loss of mobility and actual medical costs.  In addition, it can cover damage or destruction of someone else’s property including loss of use.

The bottom line is that with an out-of-control legal system, you are well-advised to seek as much protection from it as possible.  For more information, go to:  http://www.thriftytermquote.com/contact-us/