Personal Liability Insurance – Saskatchewan
Liability is a fancy word for being responsible for something. As adults, we find that we are responsible for lots of things, but when are we legally liable?
Liability is based on the definition of reasonability. What would a reasonable person do in the same situation? What would they not do? If you end up doing what a reasonable person would NOT do, then you are liable for any damages caused. This means that you are considered negligent. Once you are deemed negligent, then you are liable.
Examples of negligence that may result in you being liable:
- You accidentally leave a coffee maker or iron on and burn a home, or business to the ground. Sometimes, the fire could even spread and burn down SEVERAL homes or businesses.
- You leave a faucet on in a hotel or apartment and cause water damage.
- Sparks from your campfire start a fire and damage your neighbor’s house.
- There is a known lip in your front walkway, and it is not marked or fixed, and ANYONE (even if you don’t invite them on your property) trips and gets injured.
- You have holes for your fence dug but no posts in them yet, and someone cuts through your property and hurts themselves in a hole.
Personal Liability on YOUR Insurance Policy
The good news is you have Personal Liability Coverage on your Home Insurance Policy or Tenant Liability Coverage on your Tenant Insurance Policy in Saskatchewan.
Liability Coverage could pay out for the following when the cause is deemed as covered:
- Medical rehabilitation of an injured party due to negligence.
- Death benefits. (Loss of income and distress for family members.)
- Property damage caused by your negligence.
- Legal defense costs from being sued due to negligence.
These are often the highest value insurance claims a person will encounter in their life, as all of the above are generally very costly. This is why the amount of Personal Liability Coverage on your Home Insurance Policy in Saskatchewan and Tenant Insurance should ALWAYS be the highest of any listed coverage.
How much Liability Insurance is enough?
This is where your Insurance Broker can help to make sure you have an adequate amount of coverage. We usually let you choose - but our advice is to buy as MUCH AS YOU CAN AFFORD. Personal Liability Insurance Coverage on your Home Insurance Policy in Saskatchewan, Tenant Insurance Policy in Saskatchewan, and Auto Insurance Policy in Saskatchewan is generally very inexpensive, so please consider higher limits.
There are other KINDS of Liability Insurance?!
It is important to note that Personal Liability Coverage could not apply in instances when you are working or volunteering for another company. You would need a different liability policy or coverage for these instances. We will do another blog posts on Liability Insurance for Businesses, Liability Insurance for Farmers, and Liability Insurance for Cars and Auto.
Do you need a different kind of Liability Insurance?
Learn More Here: https://sgicanada.ca/liability
*Note - If you are participating in an illegal act, there is NO Liability Coverage.*
Ready to find out more about Liability Insurance?
Drop us a line today to talk to a Licensed Insurance Broker, and for a free no obligation quote.
