Liability Insurance — Explained

Yes

Liability insurance is a type of coverage designed to protect policyholders from legal and financial consequences resulting from third-party claims. These claims may arise from bodily injury or property damage for which the policyholder is deemed responsible. The primary purpose of liability insurance is to cover the costs associated with legal defense, settlements, ad judgments that may arise from such claims.

Liability insurance policies are designed to safeguard policyholders from potential lawsuits and the costs associated with legal defense and settlement, which can be financially devistating.

Types

Who needs liability insurance

Liability insurance is a crucial form of protection for individuals and businesses alike. Anyone who faces potential legal liabilities, such as professionals, small business owners, landlords, and contractors, should consider obtaining liability insurance to safeguard their assets and mitigate financial risks associated with lawsuits or damages caused to others.

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