At L M Insurance &Financial Services LLC, we provide homeowners coverage in the Bronx, NY, and throughout the New York metropolitan area. Homeowner coverage always incorporates liability coverage.

Liability insurance covers you in case of a claim following an injury to a guest in your home due to something you did or failed to do.

In New York, a vast number of homeowner insurance policy claims are related to slips and falls. For instance, someone could claim they fell because you didn’t clear ice or snow from your steps or sidewalk. Injuries could also occur if a guest trips over a cord on the floor or when a spill is left unattended. A crumbling stoop or a rotting board could also lead to actionable injury.

Claims relating to bites and other injuries caused by pets are also common. This can occur on your premises or while you’re out walking your pets.

New York operates on the principles of comparative negligence. That means that even if your guest was 99% responsible for their injury, you can be held liable for 1% of their injuries.

Your homeowner policy will cover court-awarded damages for these kinds of claims up to policy limits. However, there are situations where you might need a higher limit than most homeowner policies provide. For instance, a lawyer will seek the highest award possible if you have substantial financial assets and the plaintiff has a severe injury.

You might want to consider umbrella coverage if:

• You have a large stock and bond portfolio.
• You’re cashing out a retirement plan.
• You’re a high-income individual due to your profession or any other reason.

Your L M Insurance & Financial Services LLC agent can review your homeowner policy to ensure you’re covered for all potential hazards in the Bronx or anywhere else in New York. Contact us today to review your coverage!