We give the Texas people another automatic offering as we continued to have R.E.M songs inspire us to produce helpful posts. In this offering, we explore hidden liability issues for many homeowners.
You think you're prepared. You've got Texas homeowner's insurance to cover your dwelling in case of a fire, and you feel confident that you've taken all the necessary steps to protect your family.
But are you really prepared for everything? There's one risk that most homeowners overlook, and it could have devastating consequences if it's not properly addressed.
We're talking about Texas liability insurance.
Let's explore.
What is Liability Insurance?
Liability insurance is insurance that protects you from being sued for damages if you are found responsible for an accident that injures someone or damages their property.
If you're found liable, your insurer will pay for the damages up to the limits of your policy.
In some cases, they may also provide legal defense coverage.
This is insurance you don't want to ignore.
If you're found liable for an accident and don't have sufficient insurance coverage, you could be on the hook for damages
Why Do I Need It?
You may be thinking, "I'm a careful person. I would never do anything that would put me at risk of being sued."
But the truth is, accidents happen all the time, even to the best of us.
And if one happens on your property, you could be held liable, even if it wasn't your fault.
For example, let's say a gust of wind blows a tree onto your neighbor's house and causes damage.
If it's determined that the tree was on your property, you could be held liable for the repairs.
Or let's say you have friends over for a barbecue and one of them slips on a wet patch of grass and breaks their arm.
They could sue you for medical expenses, lost wages, and pain and suffering. Even if you win the lawsuit, the legal fees alone could be enough to bankrupt you. That's why it's so important to have liability insurance.
Most homeowners overlook liability insurance because they mistakenly believe that their homeowner's policy will cover them in case of an accident such as:
· A guest slipping and falling on your property
· Your dog biting someone
· A tree falling on your neighbor's house
· A guest's car being damaged while parked at your home
· Someone getting injured while visiting your home
· Your child causing damage to someone else's property
· A fire that starts on your property and damages your neighbor's home
But as we've seen, homeowner's policies have severe limitations when it comes to liability claims.
That's why it's so important to purchase separate liability insurance to protect yourself against potential lawsuits.
As a Texas independent insurance agency, we have access to all sorts of insurance options provided by a great roster of providers.
Regardless of your situation, we can find a solution for you regarding home insurance and a bevy of other insurance options.
Contact us and we'll work it out.
Ron Wadley is an owner and General Solver of Problems for Insurance For Texans. Ron is a resident of North-East Tarrant County in the Dallas-Ft Worth area. He loves riding his many bikes and watching his Baylor Bears play football and basketball. Send him your insurance questions at ron@insurancefortexans.com.