If you’re planning to have family members or friends come to your home to visit, you’re likely thinking about catching up and having fun together. You may not want to think about the possibility that a guest might get hurt, but unfortunately, accidents can and do happen. When someone gets injured, the medical bills and other costs can be astonishing.
If a guest gets hurt on your property, the liability coverage in your homeowners insurance policy can cover related expenses. You should periodically review your policy and make sure you will be adequately protected in case something goes wrong.
Your Homeowners Insurance May Cover a Variety of Injuries
Your homeowners policy can cover an accidental injury that occurs when someone visits your home. It won’t, however, cover intentional acts or injuries to family members who live at your house.
If someone comes to visit and slips on an icy sidewalk, trips on the stairs or suffers another type of injury, your homeowners insurance policy can help. If you serve a meal and someone falls ill due to food poisoning, your insurance can cover those related expenses.
If your dog bites a guest, your homeowners insurance policy can provide coverage, unless it specifically excludes your dog because of its breed or a history of biting. Check your policy if you aren’t sure about the details.
Your Homeowners Insurance Can Cover Medical Expenses and Other Costs Related to an Accident
If a guest gets injured in an accident at your house, your homeowners insurance policy can cover the associated medical bills, as well as pain and suffering and lost wages. If the injured individual files a lawsuit, your insurance can cover your legal bills and the cost of a judgment against you.
You May Need an Umbrella Policy
When a serious accident occurs, the medical bills and other associated expenses can be staggering. If someone gets seriously injured on your property and wins a lawsuit for more money than your homeowners insurance policy will cover, you will need another way to pay the difference.
An umbrella policy can provide coverage that extends beyond the limits of your homeowners insurance policy. If you get sued for a substantial sum of money, an umbrella policy can cover the amount that your homeowners policy doesn’t cover so you won’t have to sell your house or tap into your retirement account or your children’s college savings accounts to satisfy the judgment.
Talk to Your Agent
It’s a good idea to review your homeowners insurance coverage at least once a year because the coverage that worked for you in the past may no longer be adequate. If you’re planning to have guests visit, you may want to take a look at your current liability coverage and ask yourself if it would be enough if someone got seriously hurt at your home. Contact your homeowners insurance company, or even your real estate agent, to discuss your coverage and figure out if you should make changes.
