A standard homeowner’s policy in Cloquet, MN, covers various common risks that can occur. Most of the time, the liability limits included in your policy are sufficient for your needs, but some risks may require additional payouts if they arise. Brittany Olson Insurance Agency LLC can help determine if you need additional policies to cover your home and its belongings adequately.
Understanding Standard Liability Coverage
The liability portion of your policy covers you against lawsuits for injuries or property damage that occur on your property. Typical liability coverage has a $300,000 limit, but you can increase that amount for an additional premium. Most policies also have a medical payments section that covers minor injuries someone may suffer.
Situations Where Additional Coverage May Be Beneficial
Given our highly litigious society, purchasing more insurance is a good idea if you are a public figure. Several hundred thousand dollars, or even a million, doesn’t stretch far when lawsuits are involved, and you could end up paying out of pocket, whether or not you are at fault. Umbrella insurance can provide you with extra liability coverage to protect your property.
You should also consider additional liability insurance if your property has any of the following:
- A swimming pool and hot tub
- Sports equipment, like a trampoline or sports courts
- Large dogs or other animals that can cause severe injuries
- You employ staff
- You frequently host large parties
These instances are all considered high-risk activities. While your homeowner’s insurance may partially cover lawsuits from these mishaps, the likelihood that you’ll be held responsible is high.
Protecting your home is easy when you work with Brittany Olson Insurance Agency LLC, serving Cloquet, MN. Contact our office today to get started on insurance policies to protect your future.
