How Much Liability Insurance Do I Need?
Brian Babcock
October 30, 2009
The short answer is as much as you can afford. For most people, liability insurance comes in 2 or 3 forms – home, auto and possibly business. In each case, the liability coverage limit is the maximum amount the insurer will pay on your behalf if you accidentally injure someone, or accidentally damage their property. Any damages above that limit will jeopardize your own assets and income. The cost of increased limits is minimal, since the insurers spread the risk of the rare catastrophic claims over many policies. Insurers can afford the risk of catastrophe. Can you?
To discuss this issue further or if you have any insurance questions, please do not hesitate to contact Brian at 807-625-8889 (or toll-free at 1-866-934-5377)
You may also want to review Brian's Quick Legal Tip on “ What is personal liability insurance, or umbrella coverage?”
