Personal liability insurance is insurance coverage for liabilities that individuals, rather than organizations, may be held accountable for.
Many homeowner's insurance policies and auto insurance policies include a certain amount of personal liability insurance coverage. Personal liability insurance, however, can also be purchased as a stand-alone policy.
There are many different types of liabilities that a person can be held accountable for. For example, if someone gets injured from a slip and fall on your property, or if your child hits a baseball through a neighbor's window, you could be held liable for both of these things.
Injuries can often be very expensive to reimburse due to high medical costs, lost wages, and pain and suffering but personal liability insurance can help alleviate the cost of reimbursement.
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