It would help if you tried to make your home as safe as possible. If someone is injured on your property, you risk being sued. However, despite your efforts to prevent someone, you should spring into action if someone is injured.
When Am I Liable?
When you have invited someone onto your property, there is an implicit assumption that you will take reasonable care to do that, which is necessary to keep the individual safe. However, if someone is a trespasser, you usually do not have to worry about injuries that the individual might experience while on your property because there is no reason for the trespasser to assume that your property is safe.
Still, you should consult with a lawyer because if there is a reason to expect trespassers to enter your property, you might still be liable.
If your home becomes dangerous, you are expected to perform reasonable actions necessary to restore your property. At the very least, you must take steps to warn the visitor of the existing danger.
What Should I Do After an Incident?
Begin by assessing the extent to which your guest will need medical attention. If your guest requests it, contact an ambulance so that your guest can receive emergency medical attention. While doing so, make sure that you do not admit fault because this can increase the chances that you will have liability. Once your guest has been attended to, you can contact your homeowner’s insurance.
Most insurance companies have stringent requirements regarding how long you can wait before contacting your insurance provider. Also, consider sending a letter that explains in full detail what happened.
How Much Is Covered?
Whether your homeowner’s insurance policy will cover the medical expenses for the injuries is based on how the injury occurred. For example, if the injury resulted from a sudden event, such as a storm, this is almost always covered by a homeowner’s insurance policy.
Your homeowner’s insurance policy will only pay a specific amount based on your premium; therefore, you would want to consider having this amount increased, even if this means that you will have to pay a higher premium. Also, it would help if you considered getting an umbrella policy because this will provide additional coverage over what you would typically pay. When the amount you owe exceeds your homeowners insurance coverage, the umbrella insurance will kick in and take over.
Things to Consider When Purchasing Home Insurance
Things to Consider When Purchasing Home Insurance
Insurance can be one of the wisest investments that you make. However, insurance policies can be highly complex, and many people do not fully understand what it takes to get the most from them. Home insurance is critical, mainly because it can protect you in many different kinds of situations. For example, home insurance can help you replace your home if it is destroyed in a disaster or pay for any damages if you are sued due to someone being injured on your property. When purchasing your home insurance, some things to consider are that your policy can be customized, and your deductible is negotiable.
Fortunately, if you find this process overwhelming, there are e few simple tips that you can follow to get the most value and protection from your home’s insurance coverage:
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Your Policy Can Be Customized
When purchasing home insurance, it is essential to remember that your policy can be customized to work for your individual needs. This is important because a standard home insurance policy may not provide enough coverage for your situation.
For example, a standard policy will typically offer a set amount of coverage for the contents of your home that will often be broken down into categories. These categories will include such things as jewelry, artwork, antiques, and electronics.
This can be a problem if you have much money invested in items in one of those categories but not the others. In that situation, you can have your insurance agent reduce or remove the coverage you are not using. For example, suppose you have a lot of expensive electronics and no jewelry. In that case, you can have your agent remove the jewelry coverage and increase the electronics coverage so that most of your items are covered in a burglary or disaster.
You should also consider customizing your insurance policy if you have features on your property that could potentially lead to injuries to visitors to your property. An example will be increasing your liability coverage if you have a swimming pool on the property. This is typically a good idea because a swimming pool increases the chances that someone could hurt themselves on your property. Additional liability coverage will ensure you do not have to pay for their medical bills out of your pocket.
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Your Deductible Is Negotiable
When buying home insurance, it is also important to remember that you can negotiate your deductible with the insurance company. Choosing a higher deductible means that your monthly premiums will go down, but that does mean that you will have to pay more out of your pocket if you need to file a claim. For example, if you have a $2,000 deductible and need your home repaired, your insurance company will not assist you until after you have paid that $2,000 first.
However, choosing that higher deductible is often a good idea if you have a newer home that is unlikely to need repairs or live in a low-risk area for natural disasters or break-ins. The higher deductible will help you keep your monthly expenses down in that situation.
Speak to a home insurance agent like Citizens Insurance Florida Services Ltd today to discuss the many options available to you. Negotiating your deductible and customizing your policy can ensure you get the best approach for your individual needs.
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Adjust Your Coverage Limits At Least Once A Year
Most people know that their homes’ value will fluctuate with changing market conditions. However, these same people may overlook the need to adjust the coverage limits on their homeowner’s insurance policy. Failure to do so can result in you being under-covered if your home suffers major damage.
To prevent this financial disaster from occurring, you should make it a point to meet with your insurance agent and adjust the policy limits at least once a year. These professionals will be able to help you determine the appreciation or depreciation of your home, and the policy can easily be adjusted once this has been determined.
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Have A Safety Audit Conducted on Your Home
Paying the monthly insurance premium is a task that most people do not enjoy doing, but there may be ways that you can lower the payments. Many insurance companies provide discounts for individuals that make specific security upgrades to their homes. However, the list of possible upgrades can be exhaustive, and you may have difficulty determining which ones your home needs.
Fortunately, you can almost always request a safety audit from your insurance company. During this audit, an experienced adjuster will be sent to your home, and they will carefully evaluate your home for any potential upgrades that could be made to the home.
Often, these professionals will provide you with a detailed report at the end of the audit, and this report will contain the approximate savings the upgrade can bring in the terms of lower insurance premiums. Reviewing this document will make it far easier for you to choose the upgrades that will yield the largest savings.
Homeowner’s insurance is considered essential for anyone that owns a house. Unfortunately, some people will simply choose an insurance policy and never think about it again. By understanding the importance of regularly adjusting the coverage limits and the benefits of a safety audit, homeowners insurance quotes will be in a far better position to make an informed decision about their insurance needs. This can make it easier to get the most value for the money.
