Whether you have a renter’s or homeowners insurance policy in place, liability coverage is a key component. Despite its importance, many people have questions about this type of protection—specifically what exactly it covers. BestRate Auto Insurance is here to answer client questions in Statesboro, GA, to ensure they secure the right coverage to protect the things that matter most.

Liability Coverage for Homeowners

With a homeowners insurance policy, liability coverage offers much-needed financial protection. Let’s say a guest at your home suffers an injury while there. This person could file an accident claim in court, which would leave you with quite a few legal costs. Along with paying for legal assistance, you’ll be on the hook for any damages awarded.

A liability policy covers medical bills for the person injured, even if you’re not considered responsible for what occurred. Liability protection also covers damage to other property, such as a broken window caused by your child or another member of your home. While it can vary depending on your insurance company, most homeowners insurance offers a minimum of $100,000 in liability coverage.

Liability Coverage for Renters

Liability coverage for renters is similar to homeowners policies. However, not all renters have such coverage in place. While it’s standard to have a homeowners policy upon buying a home, renters’ insurance is not always mandatory. As a result, many renters may be lacking essential protections without realizing it.

The good news is that liability coverage is a component of most renters’ policies. However, you want to consider expanding your coverage to ensure you remain fully protected. For instance, lawsuits can be highly expensive, especially if physical harm or property damage is extensive. When opting for the minimum amount of coverage you run the risk of being responsible for some of the costs. Your agent can identify your personal risk level and recommend a sufficient amount of liability coverage.

If you have questions about the components of renters’ or homeowners insurance, BestRate Auto Insurance in Statesboro and Vidalia can provide answers. Thanks to this insurance agency’s expansive list of insurance options, your policy will offer the right level of protection at a price you can afford. If you’d like to speak with a Statesboro agent today, call (912) 489-5942. To reach their team in Vidalia, call (912) 403-3250. You can also visit the website to learn more about home insurance options.