Homeowner’s Insurance can offer Personal Liability, also known as Coverage E, protection options such as:
- Bodily Injury Liability (i.e., A guest falls in your home)
- Property Damage Liability (i.e., You spill coffee on a visitor’s laptop)
As a rule of thumb, unintentional damage is generally covered. Individuals with a net worth over $500,000 are encouraged to consider an umbrella policy. This insurance can offer protection beyond the limits of your Home Insurance plan.
However, another often-overlooked liability is usually not automatically included in Home Insurance policies, and that’s Personal Injury.
The Difference Between Personal Injury and Personal Liability
Typically, Personal Liability (Coverage E) doesn’t cover Social Media slander, libel, and defamation.
What is | Definition |
Slander | Misleading spoken statements that harm another individual’s reputation |
Libel | Misleading written statements that harm another individual’s reputation |
Defamation | Damaging someone’s reputation through slander or libel |
Many homeowners don’t know a Personal Injury Endorsement is necessary to cover these liabilities. You can request this affordable add-on from your Philleo Insurance Agent in Brookfield, Wisconsin, as part of the Coverage E policy of your Homeowner’s Insurance. Or, we can find a carrier for you that has this coverage standard in their Coverage E offering.
Social Media Liabilities
Are you aware of the legal liabilities of using social networking sites? These sites can be high-risk for legal problems by nature, making it all too easy to engage in inappropriate conduct inadvertently. Below are some of the liabilities users of Social Media face today.
- Copyright Infringement
- Defamatory Statements
- Invasion of Privacy (Misappropriation)
Small business owners face the highest risks of getting sued, making Personal Injury coverage even more essential.
How Your Umbrella Policy Can Save the Day
Let us consider a few instances of how an Umbrella Insurance policy on your Home policy could save you from the adverse consequences of paying for a lawsuit out-of-pocket.
Example A
You post an image on social media of an entertainer you’ve heard awful rumors about, using the hashtag #thief. The post goes viral and causes reputational damage to the individual. The victim sues you for $200,000 for defamation.
Example B
Unknowingly, you select a copyrighted soundtrack to use in the background of your YouTube advertisement. The musician files a lawsuit against you for using their song without paying royalties. Ultimately, the court favors the artist and orders you to pay $25,000 in restitution.
Example C
An individual shares medical information with you that you publicly disclose on Social Media to help them find support for their condition. Despite meaning well, the plan backfires, and the person sues you for invading their privacy. Now, you’re facing a settlement of $50,000.
In all of these instances, if the liability against you exceeds the limits on your Home Insurance policy (with Personal Injury written on this policy), your umbrella policy would kick in and help. The funds could help pay the award against you, court costs, and attorney fees, saving you from financial ruin over a social media post.
How Philleo Agency Can Help
The agents at Philleo Agency Insurance in Brookfield, Wisconsin, know how to get more value from your home policy. We understand the different liabilities that come with being human and how to protect yourself and your family from the potential financial impacts.
Final Thoughts
Start protecting your future today by asking your insurance agent how you could benefit from Personal Umbrella Insurance being added to your homeowner’s policy.
Learn more about Umbrella Insurance by contacting the Philleo Agency Insurance. Our insurance professionals are always happy to answer your questions.
