What is Personal Liability Insurance?
Sometimes called "third-party" insurance, personal liability insurance protects the insured (a person) from legal claims made against them.
Each different type of personal insurance (auto, home, boat, RV, etc.) will include some aspect of liability coverage. For example, if a guest at your home falls on your porch, is injured and decides to sue you, your homeowner's insurance will include a liability section that will cover your legal costs as well as the amount you are being sued for (up to your predetermined coverage amount).
If you have auto insurance in Alberta, you have Personal Liability and Property Damage (PLPD)
In Alberta, personal liability and property damage (PLPD) is mandatory to register a vehicle. Just like in the last example, your auto insurance will cover the costs associated with the damages you cause to people or property through the operation of your vehicle (up to your specified coverage amount).
Do you need more than the typical coverages?
High-net-worth individuals that are looking to protect themselves beyond the coverage limits of their other personal insurance policies can purchase umbrella liability policies.
The best way to determine if you have the right amount of personal liability coverage is to meet with one of our personal insurance executives. We can go through your existing coverage to see if it still suits your needs, lifestyle and goals and then make recommendations on how to get your entire insurance portfolio in order. Schedule an insurance audit today.
