Most people who buy homeowner’s insurance realize that a standard homeowner’s policy will include protection for personal liability. But what most people don’t realize is that this part of the policy will only cover you for bodily injury or property damage to a third party.
In other words, your policy will respond to things like dog bites, a slip and fall on the icy driveway or swimming accident at your pool. But what happens when you teenage child sends what seems to be an innocuous tweet about a classmate that turns out to be a tad bit salacious?
End result – at the same time you realize your homeowners policy excludes coverage, you’re being served a lawsuit for defamation, libel and slander.
In this day and age, it would be difficult if not impossible to find a teenage kid who is not using social media and what’s more interesting is that this reality is extending to the parents as well. Living in the new reality presents new risk exposures we couldn’t dream of 10 or 15 years ago.
This exposure to a defamation, libel or slander lawsuit is very real but the good news is that the cost of protection is downright cheap. Most standard policies will add the personal injury endorsement for around $22 per year. This translates into about 6 cents a day.
Like all insurance policies the endorsement has its’ limitations and exclusions. It won’t cover you for non-personal or business activities. Be sure to check with your insurance professional to get clear understanding of what the policy provides and equally important what is not covered.