Insuring your personal liability

The coverage for your personal liability is a small percentage of Homeowners insurance, but honestly, it is probably the most important coverage in the policy. It covers lawsuits and the costs of defending against them. What’s great about it is that you’d be covered no matter where in the world you are and there are no deductibles.

The biggest mistake we make is being underinsured. How much should be enough? I think the best thing is to put yourself into the victim’s shoes. Imagine, having injured spine from slipping on somebody’s floor. As a result being hospitalized, undergo surgeries and rehabilitation, not being able to work or, even to walk, or enjoy active life. So how much would you sue for if you were the one injured? Be honest. Now you have your answer. The safe thing is to have limits of $1 million or more.