What is the main difference between my property and liability insurance sections of my policy?
The property section is an agreement between you and the insurance carrier for coverage of property that you own or for the loss of its income-producing ability when the loss is caused by a covered peril. Some examples of covered perils include fire, lightning and vandalism etc. All policies do not cover all perils therefore it is a good idea to review what type of coverage you purchase. Liability insurance is the coverage part of your policy that protects you for obligations you may have to pay others arising from a legal obligation to do so. These types of situations may arise from ones negligence or a statutory requirement such as workers compensation insurance.
