Reviewing your Alabama Homeowner Insurance Liability Limits

Reviewing your Alabama Homeowner Insurance Liability Limits

By, Art Glasgow, Peck-Glasgow Insurance

 

Following our blog discussing auto insurance limits, today we will follow up and discuss Alabama Homeowner Liability Insurance Limits.

 

This is one of the most ignored limits in basic personal lines insurance.  Most of the base Alabama Homeowners Insurance policies have $300,000 liability coverage.  You can always buy more coverage, or less, with either a small increase or decrease in premium.  By far, the most common limit that we see other agents write is $300,000.  The additional premium is minimal!

 

As a risk manager, your insurance professional should be discussing your assets, and how to best protect them.  This is the purpose of liability insurance.  In today’s world, if you own a home, autos, and have financial assets like bank accounts, cd’s, IRA’s, and 401k’s then you definitely have over $300,000 in assets.  It is very easy to increase your liability limit to $500,000 or higher.  Even look at a personal umbrella.  Most of all, have a serious discussion about your insurance needs with a professional insurance agent.  Guidance is usually free and can save you lots of money and gain better coverage.  Remember to insure to be sure!