Liability comes from the word liable. What is liable? Merriam-Webster dictionary defines liable as:
- Obligated according to law or equity: RESPONSIBLE
- subject to appropriation or attachment
Therefore if you have liability, you have a state of being liable for something, and it is everywhere. Personal Liability includes auto, home, motorcycle, boat recreation vehicle, and rental property. Business Liability includes Professional, business auto, and premises. Even your decisions, your speech, your line of work, anything that can touch you with responsibility will result in liability.
Uncovering and making sure the proper protections are in place to cover all your exposures is paramount to making sure your future is protected too.