Ever since COVID conditions began, people have being staying at home, and as a result, have had more visitors to their home. These people include food delivery, online deliveries, home repair or home improvement workers, baby sitters, neighbors and family members visiting for home gatherings rather than going out in public. As is always the case, the more people you have coming through your home, the more liability you have for someone getting injured.
With a standard homeowners' insurance policy, most incidents that occur in your home should be covered. The liability portion of your homeowners' addresses personal injuries. This coverage usually pays for legal, medical and repair bills if someone is injured or their property is damaged and you are found legally responsible. What is important here is that you have enough personal liability insurance to cover the value of everything you own, if not more. The reason is a plaintiff can go after your personal assets if you don't have enough personal liability insurance in place.
In addition, if you have amenities on your property, such as a swimming pool, a trampoline, or even a treehouse, you could have potential risks that could go beyond the coverage of a standard policy.
Most insurance companies offer personal liability coverage from $100,000 - $500,000. So if you have these additional property amenities or if your asset value is high, you may need to purchase the maximum amount of liability coverage available.
And if that coverage is not adequate, then you need to look into purchasing a separate umbrella policy to increase your coverage limits. If the liability coverage in your homeowners' is maxed out during a claim, your personal umbrella policy kicks in to cover the remaining costs. Personal umbrella policies are offered in increments of $1 million, with a maximum limit of $5 million or even $10 million with some companies.
To make sure you have adequate personal liability coverage in your homeowners' policy, especially if you have more people visiting your home right now, contact your J.P. Perry Insurance agent for help.