What is a Liability?

Liability

[lahy-uh-bil-i-tee]

noun

1.

Liability is the portion of your Policy that covers you in the event you are found to be responsible for injuries to other individuals or property. Typically, all property and casualty policies, whether home, auto, or other, have personal Liability written into them.

Share |

Have A Question About This Topic?

Thank you! Oops!

Related Contents

Your DNA Test

Your DNA Test

If your family relies on your income, it’s critical to know what their needs would be in the event of your death.

Fallen Tree Damage—Who Pays?

Fallen Tree Damage—Who Pays?

Your liability for damages that occur when a tree on your property falls on your neighbor’s property is not clear cut.

Long-Term-Care Protection Strategies

Long-Term-Care Protection Strategies

The chances of needing long-term care, its cost, and strategies for covering that cost.