Insurance

What is a Liability?

Liability

[lahy-uh-bil-i-tee]

noun

1.

Liability is the portion of your Policy that covers you in the event you are found to be responsible for injuries to other individuals or property. Typically, all property and casualty policies, whether home, auto, or other, have personal Liability written into them.

Have A Question About This Topic?

Thank you! Oops!

Related Content

Variable Universal Life Insurance

Variable Universal Life Insurance

Variable Universal Life is permanent insurance in which the policyholder directs how premiums are invested.

Trends in Charitable Giving

Trends in Charitable Giving

Some people may want a more advanced gifting strategy that can maximize their gift and generate potential tax benefits.

Did You Know Your Insurance Claims Aren’t Secret?

Did You Know Your Insurance Claims Aren’t Secret?

When you make an insurance claim, it can stay on record for up to seven years. Here's why CLUE reports are important and how they affect your premiums.