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Home Viewed from the BackyardHome insurance policies are comprehensive packages featuring individual types of coverage. The goal of home insurance is to provide financial support to the homeowner in the event that something accidental or unavoidable happens.

Even in the very best of situations, incidents can occur. If you're impacted by one of these incidents, you may need to turn to your home insurance for liability support. In times like these it helps to know that your policy is comprehensive enough to protect you. So what should you look for in a policy?

Liability to Other People

A key portion of your home insurance plan will be liability coverage. This coverage protects the homeowner from any lawsuits filed against you for injury or property damage to another person. It covers incidents that you or a family member living in your home cause to other people.

In addition to covering lawsuit risks, liability coverage also will pay for the damage that your pets may cause. It is also there to support you with legal defense coverage should your case go to court. And if the case results in damages, your liability insurance may help cover some or all those damages.

In most cases, a basic home insurance plan will have a minimum level of $100,000 in liability insurance. It is often wise to consider a higher limit. Most of the time, homeowners should consider coverage in the range of $300,000 to $500,000.

Umbrella or Excess Liability

Having the right amount of insurance is not the only thing to consider. You may need umbrella or excess liability insurance as well. This coverage helps to protect your assets.

You should consider this coverage if you have assets worth a higher amount than the limits on your standard policy. This coverage provides protection well beyond what your average plan offers. In addition, it can provide more comprehensive coverage for slander, libel, and invasion of privacy claims. These are often types of coverage your standard home insurance plan does not cover.

Work with your home insurance provider to learn what your policy offers in liability coverage. Think about extending your coverage to minimize more of your risks. It has become far more common today to need high value policies. Protecting your family and your assets may start with a more comprehensive policy.

The correct coverage will protect your home well. Call Mitchell Insurance Agency at (940) 586-1273; for a free Wichita Falls home insurance quote.
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