THURSDAY, JANUARY 27, 2022
Liability insurance is one of the most important types of coverage you can have as a homeowner. It is a key component of your home insurance because it provides you with exceptional protection from accidents. What would happen if your pet bit someone? How much would you have to pay if someone fell on your property and damaged their leg or arm? Home insurance is always a necessary type of protection, but getting the right amount and type of liability coverage is essential. The problem is, many homeowners don't know how much really is enough. 
Everyone's needs for home insurance and liability coverage will differ. Many factors play a role in this including the area you live in, the types of risks you have on your property and your overall risk of having an incident happen to you (based on local statistics). Your agent will work closely with you to determine what level and type of coverage is best suited for your needs. However, there are a few things to keep in mind as you consider your options.
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In most cases, the minimum amount of liability insurance is $100,000. This is what most basic, low-end policies offer.
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In many situations, it is best to increase your coverage to between $300,000 and $500,000. This higher level of coverage can help defray costs associated with lawsuits and other risks.
What factors contribute to the need for more coverage? Local building codes, inflation protection and older homes are a few of those reasons. Additionally, if you routinely have people visit your home or you have higher areas of risk—such as having a swimming pool—you may need to up the amount of coverage you have.
What is really important to know is that a higher amount of liability coverage generally remains very affordable. The amount of additional protection you get for the difference between the low-end level to the high-end level is quite affordable in most cases. Before you overlook the value of purchasing a home insurance policy with a higher level of liability protection, get a quote and compare your options carefully.
Do you have enough coverage? Call Andrews Insurance Agency at 401-722-4271 for more information on Pawtucket home insurance.
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