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

Understanding Marginal Income Tax Brackets

Understanding Marginal Income Tax Brackets

An inside look at how marginal income tax brackets work.

How Does an Umbrella Insurance Policy Work?

How Does an Umbrella Insurance Policy Work?

If you have a lot to lose, an Umbrella policy could be exactly what you need.

Did You Know This Fact About Parking in a Garage?

Did You Know This Fact About Parking in a Garage?

Save money by parking your car in your garage.