What’s the difference between libel and slander? Both are types of defamation, which is damage to a person’s reputation. With libel, the damage is written and published while slander is defamation that is spoken. Many homeowner’s policies exclude coverage for lawsuits or judgments as the result of libel or slander.
Could I really lose my home and other personal property to someone that sued after a traffic accident? The law varies from state to state, but there are states that allow a successful plaintiff to force the sale of a house to recover any equity to apply to a legal judgment or settlement.
If you earn more than $100,000 per year or have more than $1 million in assets, it is a good idea to invest in an umbrella policy of more than $1 million, since your coverage should be at least the same as your net worth.
Did you know that umbrella insurance covers personal injuries as well? This would include invasion of privacy, wrongful entry, wrongful eviction, false arrest and/or imprisonment, and malicious prosecution.
Some helpful hints.....During this time when we are all home, here are some small projects that you should do around your home.
Spring is here!
The frigid temperatures of the winter season are now behind us, but the snow and ice may have left some lingering property damage.
Include some simple home maintenance as part of your spring cleaning routine and make sure that your home is in great shape for the season!
The spring thaw and increase in rain can cause damage to your home. Check your property for water damage, particularly basements.
Protect your roof! Clean any gutters and downspouts, as these can become cluttered with leaves, twigs and debris, causing blockages that can damage your home. Trim nearby tree branches so they are at least 8 feet away from your home.
Prevent trips and falls! Find and fill any holes in your yard. Repair cracks and holes in your driveway, walkway and steps. Check your deck or patio for any loose nails or rotting boards.
Make sure that any playground equipment is on level ground and that swings have at least 6 feet of clearance on all sides. Check the equipment for any loose screws, bolts and nails.
In homeowner and auto insurance policies, liability insurance covers such expenses as the injured person's medical bills and lost wages, and legal defense representation. Often, this insurance is not enough, which is why umbrella insurance is a good option to thoroughly protect your assets.
