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August 10, 2017

Last Updated on November 16, 2021 by info@pnclearning.com

Liability insurance provides financial protection when someone is found legally responsible for causing injury or damage. In order to prove liability, the plaintiff must show that there was a legal duty owed to them, that it was breached by the actions of the defendant, and that it resulted in damages.

Simply put, personal liability insurance covers you and your family for liability arising out of non-business activities anywhere in the world. This usually includes coverage while on vacation or for adult children while away for studies (as long as they are still your financial dependents). This type of liability coverage is usually included automatically with your homeowners policy.

With personal liability, there are four coverage areas that are commonly seen in the marketplace:

  • Personal Liability: as described above
  • Voluntary Medical Payments: covers medical payments to a person accidentally injured but without the need to prove liability
  • Voluntary Payments for Property Damage: covers payments for unintentional damage to another person’s property even if the insured is not found legally liable
  • Voluntary Compensation for Residence Employees: this coverage is limited to occasional residential employees and must be scheduled

On top of paying the damages awarded by the courts, your personal liability policy will also pay some supplementary expenses, including:

  • Cost of defense
  • Expenses incurred by the insured to assist with their defense
  • Court costs assessed against the insured
  • Interest accrued before the damages were paid

However, there are a few exclusions to be aware of. There is no coverage for liability arising out of:

  • Regular business pursuits
  • Rendering professional services
  • Intentional or criminal acts
  • Abuse of corporal punishment
  • Transmission of diseases (STIs or HIV)

 

This article was originally written for Insuranceopedia

Jacques Wong is the CEO and Director of Education at PNC Learning. An award-winning licensed insurance broker with over 15 years of experience in both education and the insurance industry, Jacques is recognized for his expertise and effective communication strategies. He achieved the highest provincial scores on his CAIB* 3 and CAIB* 4 exams and contributes to leading insurance publications. Jacques is dedicated to making insurance knowledge accessible for everyone through his unique approach and online content.

Jacques Wong

 Jacques wong

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