Like it, or not, liability insurance is a must for individuals as well as companies.
Liability insurance covers so many potentially tricky situations, that not having it is too risk a potential financial catastrophe, as well as your sanity and peace of mind.
Take the recent weather conditions and who’s responsible for making sure that buildings are safe when it comes to snow and ice.
It’s often harder for the general public to appreciate, but if someone can prove negligence against you, then you could become liable for a claim against you.
Now there used to be many stories in the British media about the plight of many homeowners in the US who used to dread the onset of winter. In the US, the pavement, or side walk outside a property, is in fact the responsibility of the homeowner to keep clear and safe for pedestrians. In fact, there were many stories highlighting how homeowners could be seen early in winter mornings clearing the ice and snow away, paranoid that someone would slip outside their house and end up being sued for not making it safe.
Okay, a bit far-fetched for the UK many would say. But what about the number of recent stories where delivery drivers in the UK are suing home owners because they have slipped on their property – say an icy pavement – and are taking the owner of the property to court for damages, stating that they should have made their property safe against such conditions. A nasty shock for any homeowner.
In short, don’t take the risk. Get some liability insurance, now.
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