Nobody likes dealing with a lawsuit. In fact, unless you are a particularly litigious person, then you are probably averse to lawsuits and engaging the legal system at all. It is annoying, complicated, bureaucratic, and all around typically an unpleasant experience for everyone involved. But if you are a homeowner, then you may be more susceptible to potential lawsuits than you may think. But there are things you can do as a homeowner to stay on the right side of litigation. Here are three ways to protect your home from potential lawsuits and save yourself a legal headache.
Protect Your Home with Insurance
The first thing that you can and should do to protect your home from potential lawsuits is to get a good insurance policy. While you may not imagine your home insurance policy as protecting you personally from liability in the event of an accident or injury on your property, it is a very standard feature of a homeowners insurance policy. By ensuring that you have good and up to date insurance protecting your home, you can rest easy knowing that you are also covered against liability.
Remove Hazards
The next thing that you can do to protect yourself and your home from potential lawsuits is to remove all hazards from the property. While your insurance policy may cover you from most things, you are still responsible for ensuring there are no hazards that could injure or harm anyone on your property. This includes a lot of things that you may not even realize. Tree stumps can make your property less safe and are seen as ugly. Removing tree stumps could be one smart way to reduce hazards. Think outside of the box and get rid of all hazards on or around your property.
Homestead Exemption
The final piece of advice to protect your home from potential lawsuits is utilizing the homestead exemption. This is for a situation where you have been found liable for some legal issue and a creditor is forcing the sale of your home. In many states, the homestead exemption allows you to protect some of the equity in your home from collection by creditors. Each state is different so make sure you know the specific rules in your state, but the exemption can help save some of your home value in the event of litigation.
Your home is a castle, and you need to protect it at all costs. With the litigious atmosphere in today’s world, protection has never been more important. Make sure that you are using these three tools to protect your home from potential lawsuits.
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LEGAL DISCLAIMER
Views expressed here do not constitute legal advice. The information contained herein is for general guidance of matter only and not for the purpose of providing legal advice. Discussion of insurance policy language is descriptive only. Every policy has different policy language. Coverage afforded under any insurance policy issued is subject to individual policy terms and conditions. Please refer to your policy for the actual language.
