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Individual Liability Defined

If ever you’ve been present at a high school graduation, religious service, or third-grade spelling bee, you will have undoubtedly noticed a trend on the part of those speaking. The trend is to define the term on which they wish to focus their remarks by turning to Webster or Oxford or whatever dictionary they have closest at hand and then reading the precise definition. It’s an age-old practice that’s as annoying as it is predictable.

Individual liability: A financial obligation for which an individual is responsible and which may be satisfied out of his or her assets (Business Dictionary).

So why is individual liability of any concern to you, you ask? Well, allow me to ask you two basic questions:

  • Are you an individual? (Unless you’re a Siamese twin then the clear answer would be “yes.”)
  • Do you own anything? (car, house, trampoline, autographed Pete Rose rookie card, vintage unopened sugar cereal collection from the 1960s)

Most likely you answered yes to both of those questions. This means that most likely you could be held liable on a personal level if a coworker, neighbor, or even stranger found any reason at all to pursue a lawsuit.

So now that I’ve thrown cold water on your party, what are you supposed to do with this personal liability hanging over your head? You might want to consider personal liability insurance. What is personal liability insurance, you ask? Well, don’t expect some canned definition, because that practice should have died out long ago with the dinosaurs.

Personal liability insurance: Insurance coverage that will protect you in all the areas that your homeowners, employers, and business insurance policies won’t (XINSURANCE).

Perhaps there’s a misunderstanding at work with an employee; maybe your neighbor’s kid falls off your trampoline; maybe a buddy falls off your ATV and ends up paralyzed. No matter the situation, personal liability insurance is in place to help cover gaps in your traditional insurance coverage, minimize exposure and maximize peace of mind. And thanks to providers like XINSURANCE, personal liability insurance is now possible for you at work, at home, at play. Personally, I can’t think of a clearer way to define peace of mind.

Peace of mind: The absence of mental stress or anxiety, and the presence of serenity, calm, quiet, comfort of mind (Wikipedia).