If you’re not already familiar with buying Tulsa home insurance, you might be confused by some of the terms that are commonly thrown around. For instance, what’s the difference between home insurance and liability insurance? Can you get one without the other? Is liability insurance expensive? In order to help you feel more confident in your search for Tulsa home insurance, we decided to answer these questions and more.
In order to understand what liability coverage protects, we need to take a look at what it is. Unlike general home insurance, liability coverage is actually an additional policy that you add to your existing home insurance. Liability coverage helps protect you and any one else on your property in the even that an accident occurs. It’s no secret that medical bills can rack up quickly, especially if an accident prevents someone from going to work. Liability coverage insulates you from any payments that result from these bills, essentially protecting you and your family from any risks associated with having people on your property.
Interestingly, liability coverage extends to certain circumstances around your property, aside from the more common “slip and fall” cases. For instance, if you have a dog, liability coverage can actually protect you from any costs associated with your dog accidentally biting someone. Of course, the specifics of your liability coverage will depend on the policy you choose with your specific carrier, but most policies offer enough protection to cover the most likely scenarios on a typical property.
As with all insurance policies though, there are exceptions. You can’t use liability coverage on your home insurance policy to protect your car, for example. In addition, a policy won’t take effect until you’ve provided a written claim to the company, so it’s worth looking up the processes associated with that ahead of time so that you’ll be prepared in the event of an accident. If you’re concerned that your liability coverage isn’t enough for you and your family, then you might want to consider investing further in personal umbrella liability coverage. As always, it’s up to you to determine what’s best for your family and your property, but it always pays to have the right policy in place before something serious happens.