The holidays are a great time of year for parties –
Friends and families often gather at a home to enjoy the season and each other’s company. But having people in your home for a party may come with some risks you haven’t considered. And while your homeowners insurance may have coverage for some of these risks, just be sure you’re aware of your potential liabilities.
Injuries and Falls
You hope no one gets hurt on your watch, but personal liability coverage in your homeowners insurance policy may help protect you if someone is injured at your holiday party. If a guest slips and falls on some ice outside your home, or if they get hurt inside your home, personal liability coverage could help pay for their medical bills. If you host often, be sure your coverage limits are adequate.
Of course, there is always the risk to your stuff to consider as well. If your holiday party gets out of hand and causes damage to your home or property (or a robber decides to take advantage of the chaos), it’s possible that your homeowners insurance policy could help pay for the repairs. In extreme situations, if the damage is severe, it’s possible that your policy limits could be reached, leaving you to pay for the rest on your own.
Alcohol and Liability
If you serve alcohol at your party, be mindful of your guests’ transportation plans. If someone leaves your party and gets into an accident, you could be held liable. To help protect yourself, you may want to consider adding an umbrella policy to your homeowners insurance. An umbrella policy can provide additional coverage above and beyond the limits of your homeowners insurance policy, offering you an extra layer of protection.
No one wants to think about the possibility of something going wrong at their holiday party. But by considering your personal liability, you can help give yourself peace of mind in case of an accident. Talk with one our agents and let them help you understand your risks and coverage options.