Importance of Personal Liability Protection Insurance

A Mooresville, North Carolina professional, Cubby Bice delivers lasting strategies in the financial planning sphere. Cubby Bice’s integrated approach centers on developing a sound insurance strategy. He provides services including liability, personal, and life insurance allocations.

One of the types of protection that many do not invest in until they need it is personal liability insurance. This can be essential in cases where a slip, fall, or animal bite occurs on one’s property. In addition, it provides essential protection to the types of professionals who can easily become targets of claims, such as physicians, dentists, and attorneys. It can even be useful to those concerned about the cost of causing damage to another’s property.

Personal liability claims can be substantial, including medical bills, lost wages, and legal expenses. For this reason, having such a form of insurance is a must for those who maintain certain types of private practices and businesses and is often recommended as part of comprehensive homeowners’ coverage. In areas such as medical malpractice, such coverage may even be mandated by law.