from Wiktionary, Creative Commons Attribution/Share-Alike License
- n. Any insurance against a potential loss due to the insured's liability for injury or damage to others.
from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.
- n. insurance that provides protection from claims arising from injuries or damage to other people or property
Sorry, no etymologies found.
The more assets you accumulate the more important personal liability protection becomes, but you can easily end up overpaying for liability insurance by taking high liability-limit coverage on both your automobile and homeowner’s policies.
If you want to save money on your insurance and are willing to accept some limited financial risk on the road, buy only the amount of liability insurance you really need and increase the dductibles on your policies.
If your self-owned business owns company vehicles driven by you and/or others, carry a minimum of $500,000 to $1 million of bodily injury liability insurance, even though liability insurance on company-owned vehicles is much more expensive.