Our blogs previously discussed the liability coverage of renters’ policies. Today, Texas Classic Insurance will delve deeper into what this component provides. While many people associate renters policies with protecting the physical assets in their rented Granbury, TX, home, the liability component of this policy protects your financial assets, ensuring you won’t have to pay out of pocket if someone files a claim against your insurance.
When Might Someone File a Claim Against Your Renters’ Insurance?
A claim can be filed against your renters’ insurance when someone incurs an injury caused by you or some aspect of your property. This is similar to an auto accident scenario, where the drivers exchange insurance information so the injured party can file a claim for their injuries and damages once the responsible party is determined.
The liability component of renters insurance applies in situations such as:
- When a person sustains an injury in your home, such as a slip-and-fall accident.
- When damage originating in your home damages another person’s property, such as a house fire that spreads to another home.
- When you or a family member for whom you’re responsible damages another person’s property, such as your child accidentally breaking a neighbor’s window while practicing pitching a baseball.
- When liability-incurred activity stems from a social event you host, such as an individual leaving a party you hosted drunk and causing an accident.
In such situations, the injured person files an insurance claim on your renters’ policy. Liability coverage protects the policyholder from paying out of pocket for damages.
Contact Us Today
Call or email Texas Classic Insurance today for an insurance review. Ensure that your renters’ insurance provides the coverage you need for your lifestyle and personal property in Granbury, TX.
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