June is National Homeownership Month to celebrate the benefits of owning a home and spread awareness for homeowners. Owning a home is often thought of as the American dream and is both rewarding and challenging. Understanding the potential liabilities homeowners face is an important part of being a good homeowner.
Homeowner Insurance
Homeowner insurance includes the structure, personal items, living expenses in an emergency and liability coverage. Different situations may trigger homeowner liability insurance, such as dog bites, slip and fall accidents or carbon monoxide poisoning. It is important to have liability coverage when owning a home not only so others have protection but so do you.
Injuries
If someone suffers an injury at your home, you can be held legally liable in some cases. Concerns include things like medical payments, wage loss, pain, suffering and disability.
Additionally, if you are visiting someone else’s home and suffer injuries due to that person’s negligence, you may be able to file a claim under their policy to help recover loss. If you suffer injuries at another person’s home, ask them about liability insurance.
No Insurance
People who do not have homeowner’s insurance on their property risk exposing themselves and property to personal law suits. It is important to make sure that you have enough coverage to protect not only your home but also your assets in case of an accident.
The Merdes Law Firm has been helping injured Alaskans for more than 30 years. It’s who we are. And while we hope you never need us … We’re here if you do. ~ Ward Merdes
Source: RMII, “Homeowner Liability Coverage” | Photo
