Comments on: Do You Need Personal Liability Insurance Coverage?

By: cheryl

cheryl — Thu, 02 Jun 2016 02:21:38 +0000

We live on 3 acres. We are the only ones living in our 40 yr old home. Planning on selling in two yrs. We have business ins.for 1-2 million as my husband is self employed. I would like to lessen some of our coverage as it has gone up quite a bit and we pay a separate flood policy. Our home is almost payed off and we are 55. I have never had a claim. And am trying to lessen my expenses, as we well know we will never get anywhere near what we are over insured for. Not sure what to do. I have been shopping around we never had any options to change our policy and company until this yr. These quotes are less than half of the 3500. We will now have to pay, for a little less coverage but alot not included like it is in our present policy. Its just becoming almost a mortgage payment to pay these premiums, and our house assessment is around 72k we could probably get 165-70k, but still like I said it is what it is you’ll get what your ins co thinks its worth in the end. Very unsure what I should do, from a realistic value stand point.

By: Mike Collins

Mike Collins — Mon, 25 Jun 2012 12:51:53 +0000

Hi Jeff. A personal umbrella policy has been on my to do list for awhile now, I just need to consolidate my home and auto insurance under one carrier because that’s one of the requirements for the one I’m going to stay with.

A business policy is also intriguing. What kind of insurance do you think bloggers should have to protect themselves against frivolous lawsuits? I’ve heard of bloggers being sued for libel and slander so you never know.

By: Mike

Mike — Mon, 25 Jun 2012 11:14:53 +0000

It’s a great pitch of personal liability insurance coverage. Professional liability resembles malpractice insurance, despite the fact that the insurance policy is probably not complete like another malpractice guidelines in diverse fields. This insurance is supposed to safeguard professionals or experts within their selected fields, who is probably not covered protection by general accountability due to their abilities. If a person is viewed to become professional, he/she’s put into a heightened standard and for that reason frequently thought to have better liability to his/her clients. Therefore, these professionals necessitate additional coverage than general accountability assurance can provide.