What is Homeowner Liability?
Property owners as a whole have a legal responsibility to keep the premises they own, safe. As a homeowner, you are responsible for visitors coming to and going from your property.
If a visitor is harmed in any way while on your property, you may be held liable. Homeowner liability can extend to a wide variety of legal issues, some of which include:
State laws vary on homeowner liability. Be sure to check the laws in your own jurisdiction and consult a real estate attorney with any questions pertaining to your rights and responsibilities.
What is Homeowners Insurance?
A homeowners insurance policy helps protect a person’s home and its belongings from damages. Homeowner’s insurance also protects the property owner from potential liability.
Though it helps to protect the homeowner in some situations, it does not guarantee that he or she will not face a lawsuit in the instance that someone is injured the property.
How Much Homeowners Insurance Coverage Should I Carry?
Most homeowners insurance policies provide at least $100,000 of liability coverage. However, it is commonly recommended that a homeowner purchase at least $300,000 to $500,000 of liability coverage.
Having a $100,000 policy may sound like a lot, but in the event of a costly lawsuit, it may not be near enough. Property owners need to assess their own situation and assets when considering which policy best fits their needs.
If you have extensive property, including any additions on your home and any personal property, then you will want to consider having more insurance coverage on your home. While it will result in a higher premium, it can save you headaches down the road if you ever need your coverage to apply.
When Does Homeowner Insurance Coverage Start?
Ultimately, your homeowners insurance offers full coverage the moment you pay for coverage. But if an accident occurs on your property and someone is injured, then your homeowners insurance will apply.
In the event that an injured party sues you for damages, and your homeowners insurance applies, it will usually kick in and cover the costs and damages associated with the lawsuit.
However, your policy will only pay an injured party up to the limits of your coverage. This means that you could be on the hook for any amount that exceeds your policy. In this type of situation, it may be possible that your policy will have an umbrella provision that will provide extra protection. Contact your insurance broker for more information.
When a person is harmed intentionally or deliberately on another’s property, then the policy will not cover the injury. For instance, if you physically attack someone on your property and they sue you for their injuries, your insurance policy will not protect you.
Any intentional damage or injuries inflicted will mean that your homeowner’s insurance has every right, and will probably not, cover the cost of damages. Not just purposefully, physical attacks, but also any serious damages due to an out of control party or any pranks that went too far.
Do I Need a Lawyer Concerning Homeowner Liability?
If you are a homeowner with any questions regarding your liability then you should first speak to your insurance broker. If your homeowner’s insurance refuses to offer coverage, but your situation still falls within the parameters of your coverage, then contact a local lawyer with experience in insurance disputes.
Your lawyer will be able to advise you of your rights and legal obligations, as well as provide legal representation in the event of a personal injury lawsuit.
Last Modified: 2018-07-13 14:51:31
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