Broadly speaking, insurance covers you for potential loss resulting from risks such as burglary or theft, severe storms, fire and also your personal liability. The specific risks you may face as a home owner could include floods and earthquakes, which you must cover with separate policies, as these disasters are not included in home insurance.
Your home liability coverage protects you in the event that someone is injured on your premises or you are responsible for damage to someone else’s property. You homeowners insurance can even protect you against injury you cause to another person off-premises under certain circumstances. Note that liability insurance will not cover acts of violence or intentional damage.
Your liability insurance would also typically provide coverage if:
- Your child throws a baseball through the neighbor’s window
- Your dog bites a visitor to your home
- A visitor is injured on your backyard swing set or trampoline, or by falling on your icy sidewalk
- A dinner guest gets food poisoning and is hospitalized
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