Planning on entertaining this summer/fall? Why personal liability should be at the top of your summer party check list. For many of us, the basic limits of liability offered with homeowners or auto insurance policies are enough to cover most claims. But what if they dont? What happens, say, if you cause a terrible crash with multiple injuries? Or what if youre hosting a house party where someone gets a bit tipsy and falls off your 10-story balcony? Chances are that these unusual and catastrophic claims may exhaust your basic liability coverage. You might even be subject to a lawsuit if you were negligent. Thats where personal catastrophe liability (PCL) coverage can help. PCL is excess coverage designed to protect you against financial obligations resulting from major claims and lawsuits that can exhaust the limits of your underlying policies. PCL is typically sold in million-dollar increments, and its a lot less expensive than you might think. Check into PCL coverage—especially if you have a pool at home or own watercraft, or you just throw a lot of house parties.
Posted on: Thu, 14 Aug 2014 02:23:31 +0000
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