What liabilities do homeowners face?

by Administrator 4. July 2011 12:27

 

During your daily routine at home, you possibly don’t think much about the different potential liabilities you are accountable for within the very same building that you and your family rely on for comfort and shelter. But there are many accidents that could happen to others within your home that would result in medical bills and damages and that you, as the homeowner, could be liable for. These incidents could take money out of your savings, retirement fund and college savings plans unless you have the appropriate insurance to cover them.

Potential Liabilities as a Homeowner

Here is an idea of what these potential liabilities could consist of:

Indoor injuries: If a guest or visitor to your home is injured while on the premises by trip and fall over a loose floor tile, you could be liable for both damages and medical expenses.  The costs of these expenses could be extremely high and may even include recompense for loss of work.

Miscellaneous injuries: Visitors to your home could be injured in your yard or garden, around or in your pool, within your storage shed or even by your dog. In fact, your dog could bite someone who isn’t even on your property. Similar to the other accidents we mentioned, this would fall under a homeowner’s liability.

Property damage: If one of your children throws a ball through a neighbor’s window or if one of your trees falls on a neighbor or visitor’s car, you could be liable for repair, replacement, loss of use and other damages.

Accidents within your home can happen any time—whether you’re having friends over for dinner, throwing a party, showing your home to a neighbor or potential buyer, or even entertaining out-of-town relatives. Homeowners liability coverage is designed to protect you against the financial exposure brought on by these liabilities that, whether you know it or not, are a constant part of your life. The benefits of liability insurance can extend well past the inside of your home and protect you from offsite accidents as well.

There is no reason not to have proper liability coverage for your home. Doing so not only protects your family but also ensures that anyone injured on your premises or suffering damages as a result of your family, property or pets will get the medical treatment and funds for damages that they deserve.

To learn more about Texas Homeowners Insurance contact us at (800) 212-2641 or get a free home insurance quote.

 

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