Coverage E…Personal Liability???
Coverage E is included in your condo/home/renters insurance policy for at least $50,000.
We recommend no lower than $300,000 for property owners and in fact you can go up to $500,000 before adding an umbrella policy which gives you even more protection.
We recommend no lower than $100,000 for renters.
If a claim is made or a suit is brought against you for damages because of bodily injury or property damage your insurance company will:
Pay up to the limit of liability on your policy for the damages for which you are legally liable. AND…
Provide a defense by counsel of the insurance company’s choice even if the suit is groundless, false or fraudulent. The insurance company may investigate and settle any claim or suit that they decide is appropriate. Their duty to settle or defend ends when the limit of liability for the occurrence has been exhausted by payment of a judgment or settlement.
So why should you care?
If someone gets injured on your property whether they were invited or uninvited, whether they were inside or outside your residence, you could very much be on the hook if you don’t have the proper coverage.
Of course there are some exclusions but not many. Please consult with us if you wish to raise your limits or if you have questions in general.