The Role of Liability Insurance at Home

With the current state of the economy it is important to make the most of home and payment protection insurance. The standard home insurance policy covers damage to a home in the event of a hurricane, fire or hail. In addition, a homeowner’s policy may also cover accidents that take place on your policy. Homeowners must also consider purchasing payment protection insurance for the maximum protection of their family.

The Benefits of Liability Insurance

In addition to a standard Lloyds TSB home insurance policy, liability insurance provides several advantages to homeowners. The main benefit to having liability insurance is the ability to protect a homeowner against personal injury claims. The standard liability insurance provides protection for unintentional injuries caused by the policyholder, residents within the home and pets. Liability insurance also covers injuries that take place as a result of negligence such as not repairing a faulty step or removing ice from the sidewalk.

Payment protection insurance adds another level of protection in the event of a job loss. A family is able to guard themselves against the loss of income due to an illness, accident or job loss. With PPI claims, the insurance company will continue to pay the monthly mortgage payments, credit card bills and personal loans.


Liability claims will provide monetary compensation for an injury. The case may be settled in or out of court depending on the reason for the claim. Cases that are settled out of court may result in less out of pocket expenses and court fees. Individuals that may require additional coverage in addition to their homeowner’s insurance may want to consider Umbrella coverage. An Umbrella Liability policy will protect a homeowner against lawsuits that involve slander, false arrest, imprisonment and invasion of privacy. The Umbrella policy will only cover claims that are beyond the coverage provided by a homeowner or auto policy.

Choose a Provider Carefully

The amount of coverage available for liability and payment protection insurance varies depending on the policy. Standard liability coverage ranges from $100,000-$300,000, but can extend up to a 1 million. While a payment protection policy will cover outstanding loan payment for 12-24 months depending on the policy. In order to receive the best rates, it is essential to compare insurance policies. Focus on selecting a quality insurance provider with affordable rates and excellent customer service for the best results.