Beware of Drunken Drivers at Your Holiday Party
The holidays are the perfect time to invite friends and family over to your home for a festive get together. However, if you are planning to throw a party, take steps to make sure your guests don’t drink and drive. You may be held legally responsible if one of your guests is involved in an accident, after drinking at your home. Some states have social host responsibility laws. In those states, the host could be held liable if the guest is killed or injured, or if the guest kills or injures another person. Your home insurance policy may provide some liability coverage. Make sure you ask for enough protection, when you apply for home insurance quotes.
Liability coverage
Home insurance protects not only your house and your personal belongings, but it also covers people who may be hurt or injured on your property. Most standard home and renters insurance policies provide at least $100,000 of liability coverage. Most insurance agents recommend you increase your limit to $300,000 or $500,000. This coverage will help protect your assets, for instance, if one of your guests is injured and sues you. Review your policies for your liability coverage, when you obtain home insurance quotes.
Umbrella policy
Some personal finance experts recommend you have at least a $1 million umbrella policy, even if you have less than $1 million in assets. If you are sued, you may be ordered to pay a legal judgment based on your current assets and future earnings. According to the Insurance Information Institute, you can buy a $1 million personal umbrella liability policy for about $150 to $300 a year you. If you earn more than $100,000 a year or own more than one million in assets, you will want to have more coverage. The next $1 million worth of coverage will cost about $75 and each $1 million-dollar increment after that will cost about another $50, according to III. Make sure your family is protected, when you obtain home insurance quotes.
Social host responsibility
If you throw a party and serve alcohol, it is your responsibility to make sure your guests are capable of driving home safely. If you live in a state with social host laws and one of your guests is injured or harms another person, you may be subject to civil or criminal fines, imprisonment and monetary damages awards. If criminal charges are brought against you, your insurance may not cover the civil judgment against you. And remember the legal drinking age in every state is 21. Don’t serve alcohol to minors at your party. Many states have specific laws for those who give alcohol to underage drinkers. Talk to your insurance agent about your liability coverage, after you have received your home insurance quotes.
Remember when you buy a homeowners or a renters policy, you’re insuring the structure of your home and your personal belongings in your home. Once you have determined the best coverage for your family’s needs, you’re ready to obtain home insurance quotes. Call agents in your local area, contact several insurance companies directly or use InsuranceQuotes.com to instantly get competitive home insurance quotes from the nation’s leading insurance providers. Take the time to protect you and your family today.
