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The most common requirement is for your auto policy to have liability limits of 250/500/100 and for your home insurance to have a personal liability limit of $300,000.
Personal liability coverage: This coverage may help financially protect you against potential legal fees from someone getting injured on your property. Medical payments coverage: This coverage ...
Umbrella insurance is a form of liability insurance that provides coverage when liability exceeds the limits of other insurance policies, such as auto insurance or homeowners insurance. It can also act as primary insurance for losses not covered by those underlying policies, distinguishing it from excess insurance , which typically only extends ...
If indemnitors can negotiate a limit on liability in their contract, that limits the cost of a potential indemnity if they "make clear in the agreement that any limitations of liability (whether in the form of caps or exclusions of certain types of damages – e.g., consequential) apply to the ... indemnification." [28]
The primary reason for professional liability coverage is that a typical general liability insurance policy will respond only to a bodily injury, property damage, personal injury or advertising injury claim. Other forms of insurance cover employers, public and product liability. However, various professional services and products can give rise ...
Liability coverage Let’s say your child borrows your car to run errands and accidentally rear-ends another vehicle at a stoplight. In this situation, your liability coverage steps in first.