The last thing you expect when hosting a party in your condo is someone getting injured on your property. Unfortunately, accidents do happen, and more often than people think. Condo liability insurance from Com-Co Insurance Agency Inc. in Mount Prospect, IL will protect you against accidents that occur in your condo. Liability insurance covers the cost of your guest’s medical expenses so these funds don’t have to come out-of-pocket. Here’s what you should know about liability coverage:
Covers Medical Costs of Accidental Injuries
If your guest trips and falls down the stairs while visiting your condo and you’re found liable for the accident, they could sue you for damages. Condo liability insurance protects you from lawsuits by covering your guests’ doctor and hospital bills. If your guest can’t work due to his injuries, you may be held liable for their lost wages during the recovery. Without insurance coverage, you may need to dip into your savings or retirement funds to pay these costs.
Covers Damage to Others’ Property
Condo liability covers damage you may cause to someone else’s property due to your negligence. If you’re roughhousing at a friend’s party after having one too many drinks and damage his pricey stereo, you could be sued for damages. Liability insurance covers the cost of repairing or replacing your friend’s stereo equipment so you don’t have to.
Covers Pet-Related Injuries or Damages
If you own a pet, you may want to include pet-related injuries or damages in your condo liability coverage to protect you against lawsuits in the event your pet bites someone on your property. Your liability coverage will help cover legal expenses and settlements up to the limits of your policy.
To learn more about condo liability coverage and costs, contact Com-Co Insurance Agency Inc, Mount Prospect, IL.