When many people think of a homeowner’s policy, they think of the structural protections it provides. If your home gets damaged by a peril covered in the policy, the insurance company pays for repairs. Adams Insurance & Financial wants Northwest Arkansas homeowners to also understand the liability coverage in home policies, such as HO-3 policies.<\/p>\n
This blog explains its protection for accidents at the home, plus libel and slander. HO-3 policies, the typical type purchased by most homeowners, cover liability, too. Each policy provides protection equal to a percentage of the home’s value. The homeowner can adjust the percentage from its baseline, but that raises the monthly premium.<\/p>\n
Most policies offer liability coverage at 10% or 20% of the home’s value. That means a policy that includes liability coverage with a maximum of 20% of a home’s value provides coverage of up to $100,000 for a home valued at $500,000.<\/p>\n
Liability coverage protects a homeowner in a few ways. First, if a visitor to the home has an accident, the liability coverage pays the injured person’s medical expenses. Whether the visitor falls down the steps or slips getting out of the shower, the insurance covers it. It also covers swimming pool and trampoline accidents, but owning either adds to your premium costs.<\/p>\n
Liability coverage also offers settlement protection if the homeowner or a member of the household commits libel or slander. This protection comes in handy if anyone in the household works in a public job, such as a business owner, politician, coach, teacher, etc. Individuals in these positions frequently speak with the media and write opinion pieces, which puts them at risk of accusations of libel and slander.<\/p>\n
Contact Adams Insurance & Financial to increase the protection on your Northwest Arkansas home. Let us help you find the right homeowner’s insurance for your home.<\/p>\n","protected":false},"excerpt":{"rendered":"
When many people think of a homeowner’s policy, they think of the structural protections it provides. If your home gets damaged by a peril covered in the policy, the insurance company pays for repairs. Adams Insurance & Financial wants Northwest Arkansas homeowners to also understand the liability coverage in home policies, such as HO-3 policies. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[8,7],"class_list":["post-88","post","type-post","status-publish","format-standard","hentry","category-home-insurance","tag-adams-insurance-financial","tag-northwest-arkansas"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t