Even Responsible People Get Sued

March 13, 2024||inPersonal Insurance|auto insurance, homeowners insurance, lawsuits, liability insurance, personal insurance, personal liability, renters insurance, umbrella insurance

Liability Insurance is for Everyone

You don’t have to be a millionaire to be sued like one. The legal fees to defend yourself in a lawsuit can be financially crippling regardless of whether you’re ultimately found responsible or not. If found liable, you can’t predict what a judge or jury will award, but huge settlements are common especially when bodily injury is involved. In a serious accident, the personal liability limits of an auto, home, or renter policy may not be enough, which is why an umbrella policy is an important consideration.

Even Responsible People Get Sued
Click here to submit an inquiry to Murphy Insurance or call us at 800 222 8711

What’s at risk? Your savings, your home, your future income, etc.

One reason given for purchasing higher liability limits is, “I don’t have a lot of savings or other assets.” What this view fails to consider is your future income and earnings potential. If you think you’re struggling now to make ends meet, imagine what would happen if, in addition to losing your savings and other assets, your wages were garnished. Regardless of your economic status, you have something to lose.

How can you improve your protection?

Increase the personal liability portions of your policies. Often the difference in premium is minimal compared to the additional protection you get. Here are some of the specific areas to consider.

Auto Insurance

  • Optional Bodily Injury to Others – pays for damages to people injured or killed in an accident if you are legally responsible for the accident.
  • Property Damage – pays for damages to someone else whose auto or other property is damaged in an accident if you are legally responsible.
  • Medical Payments – pays for reasonable expenses for necessary medical and funeral services to yourself and your passengers incurred as the result of an auto accident.

Home, Condo, or Renter Insurance

  • Personal Liability – pays if you are found responsible for unintentional injuries to another person or damage to property.
  • Medical Payments to Others – pays for claims and lawsuits as a result of someone getting hurt, and pays for the medical expenses incurred by that person

Umbrella Insurance

  • Provides an extra layer of protection over and above your auto, home or other policies also referred to as excess liability. Covers lawsuits, settlements and jury awards. Available in increments ranging from $1 million to $10 million.

To discuss improving your personal liability coverage or if you have questions, please give us a call. We’re glad to explain and provide a premium comparison.

No matter how responsible and safe you are, the risk exists that one day, you or someone in your household could be sued for causing “injury” to someone due to an accident, negligence, or some other liability situation. The news is filled with examples of what can happen if you’re in the wrong place at the wrong time.

Read Other Blog Posts

People celebrating

Hosting Holiday Parties Responsibly: Tips for Personal & Business Gatherings

While it’s easy to get caught up in the fun, taking some simple precautions can prevent mishaps and protect you from unexpected situations. Here are some practical tips for hosting a safe and successful holiday party, with a focus on being prepared.
Read more
Holiday Decorations

10 Tips for Disaster-Free Holidays

From mishaps in the kitchen to accidents involving decorations, a little preparation can go a long way in ensuring your holidays stay merry and bright. Here are ten tips to help you enjoy a safe and disaster-free holiday season.
Read more
Map & Passport

Travel Smart: Holiday Safety Tips for Your Seasonal Adventures

Between the packed highways, bustling airports, and unpredictable weather, holiday travel comes with its fair share of challenges; here are some fun and practical tips for staying safe while traveling this holiday season.
Read more
Snowy Neighborhood

Protect Your Property This Winter: Tips to Prevent Costly Damage

From frozen pipes to roof collapses, the risks of winter property damage are real for both residential and commercial property owners. The good news? Many of these issues can be avoided with proactive steps that save you money and help keep your insurance premiums manageable.
Read more
Family decorating tree

Decorate Safely During the Holidays

While holiday decorations can be fun and beautiful, they can also present fire hazards. To keep your home and family safe throughout this holiday season, consider the following decorating tips.
Read more
Thanksgiving Safety Tips

Thanksgiving Safety Tips for a Happy Holiday

Thanksgiving is a time to gather with loved ones, share a delicious meal, and reflect on all we’re grateful for.  To help you celebrate safely and ensure that your holiday is filled with joy, not unexpected mishaps. here are some tips to keep in mind.
Read more
Car tire

Vehicle Breakdown Safety Basics

No one ever plans to experience a vehicle breakdown. That’s why it’s important to plan ahead and be prepared in order to handle such a situation safely. Implement the following guidance to ensure you remain safe and injury-free in the event that you get stuck on the road.
Read more
Calculator

How Insurers Calculate Premiums

Depending on the type of policy, an insurance premium must be paid monthly, twice a year or annually. Each policy type will have also have a different premium amount based on the coverage and policyholder. It’s essential to understand how premiums are calculated so you can secure the best deal without sacrificing coverage.
Read more
Drowsy

Preventing Drowsy Driving

Every year, the National Sleep Foundation organizes Drowsy Driving Prevention Week to raise awareness about the dangers of driving while fatigued.
Read more

Visit Our Personal Insurance Page

Personal Insurance

Life is an ever-changing journey, and it deserves a thoughtful, comprehensive plan to protect the things and people that matter most. Our dedicated team at Murphy Insurance is here to assist you in creating that plan. With a wide range of product options at our disposal, we ensure that your plan is tailored precisely to your requirements. Our commitment to providing clear, intelligent guidance to help you achieve true peace of mind. Learn more about our personal insurance portfolio.