Berkshire Hathaway HomeServices Verani Realty
John Buccelli, Berkshire Hathaway HomeServices Verani RealtyPhone: (781) 248-2545
Email: [email protected]

How personal liability coverage protects your best interests

by John Buccelli 01/08/2024

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Homeowners insurance is made up of multiple types of coverage. One of those coverages is personal liability coverage. This article provides a basic guide to understanding what liability insurance covers and its value. 

What does personal liability insurance cover?

Personal liability insurance provides financial coverage in case someone is injured on your property. This type of policy offers coverage to you and the members of your household. 

For example, imagine a visitor falls and is injured in your yard or home. If you’re found to be at fault for this injury, liability insurance covers the claim. 

Is personal liability insurance required for homeowners?

Personal liability insurance isn’t a requirement for homeowners. However, mortgage leaders will require loan borrowers to purchase this insurance to protect their investment. 

For example, let’s say someone has an accident in your home and decides to sue you. They could possibly go after your home as an asset. Lenders have invested in this asset, so they don’t want to compromise their stake. 

Do renters need personal liability insurance?

Many rental companies will require tenants to get renters insurance including liability coverage. This covers the same perils as standard liability insurance for homeowners. 

Accidents happen. Having liability insurance covers you and your household when they do. Even though liability insurance isn’t a requirement, having it can save you from paying out of pocket in the case of an emergency. 



About the Author
Author

John Buccelli

John is a native Somerville resident and has been a dedicated a real estate sales professional for nearly thirty years. As a strong well respected businessman and former owner of Prudential Buccelli Real Estate, he was thrilled to merge with the Berkshire Hathaway HomeServices Verani Realty brand to expand the global outreach and name recognition for his clients. He has a forward thinking approach, embraces innovation and focuses on all resources to assist his clients. His diverse experience includes residential, commercial, investment land. His experience enables him to understand the challenges of the fluctuations in the real estate industry. John is focused on time tested principles that he has learned on how to produce results and he knows how to respond to the market. He has been involved in thousands of real estate transactions in his long career. Since all real estate is local, he is the area expert!