What is Liability Insurance?

percentage of claims by cause of loss

Liability insurance helps protect the insured (the one who purchases the liability insurance) from the burden of claims that can arise and cause you major legal issues. You have a liability issue when you cause damage (financial or otherwise) to a third-party due to your negligence. This could be from an auto accident, a guest getting seriously injured on your property and libel and slander cases too. Once the decision has been made by the authorities that you are guilty of negligence, the … [Read more...]