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How to Become an Insurance Adjuster
How to Get an Insurance License
How to Pass the Property & Casualty Insurance Exam
How to Sell Insurance
How to Start an Insurance Agency
How Does COBRA Insurance Work?
How Does Disability Insurance Work?
How Does Mortgage Insurance Work?
How Does Homeowners Insurance Work?
How Does Liability Insurance Work?
How Do Insurance Companies Establish Premiums?
How Do Insurance Companies Invest Their Money?
How Do Insurance Companies Make Money?
How Do Insurance Companies Measure Risk?
How Do Insurance Companies Work?
How Do Insurance Deductibles Work?
How Does Business Insurance Work?
How Does Business Liability Insurance Work?
How Does Gap Insurance Work?
How to Buy Homeowners Insurance
About Different Types of Insurance
How to Buy Insurance
How to Buy Home Insurance
Business Valuation of Insurance Agencies & Brokers
Why Buy Insurance?
How Do I Know My Insurance Will Work?
Who Needs Life Insurance?
How Much to Spend on Health Insurance
Life Insurance Costs
Life Insurance for Kids
Filing a Life Insurance Claim When a Loved One Dies
How to Pick a Life Insurance Beneficiary
Insurance Agent Job Description
How to Change Life Insurance Carriers
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Summary: Liability insurance is used to pay for damages in the event that a third party is damaged on the policy holder's property or due to the policy holder's negligence. Avoid a large lawsuit with liability insurance using tips from an insurance agent in this free video on insurance.
Vic Schumacher is part of HPE Financial Services, a brokerage insurance company representing all major carriers. He works with businesses, families and individuals, helping them to...read more
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"Hello, my name is Vic Schumacher with HPE Financial Services. I'm an insurance broker representing a variety of different insurance companies. The question was, how does liability insurance work? Well let's make a definition here first. Liability would be compensation to a third party based upon an injury or damage that has occurred by the person who is insured. So how does it work is that the policy itself would pay that third party injury in the event something happened. You've got liability insurance on your home, you've got liability insurance on your car possibly. You have business liability insurance in case someone is injured on your premise, those are the types of things that where you would want liability insurance. If you don't - if something happens to this third party and you don't have that type of coverage - you're opening yourself up to a tremendous lawsuit and a tremendous loss of financial issues. So, for peace of mind you should definitely consider having some sort of liability coverage not only on yourself but also on your properties. My name is Vic Schumacher, the company is HPE Financial Services, helping people every day."
eHow Article: How Does Liability Insurance Work?
Meet Mark P Cussen, CFP, CMFC eHow's Personal Finance Expert.
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