MA Law Blog

Why You Need a Homestead to Protect Your Home...

Posted by Dave Lima on Apr 3, 2008 6:40:00 PM

Why You Need a Homestead to Protect Your Home...

If you have a Homestead and you're in an automobile accident and your insurance is insufficient your home won't be exposed to the extent of $500,000. The same is true of:  
  • dog bites,
  • drowning in pools,
  • slip and falls
  • and professional liability claims
  • and much more.

It is important to note, that Homestead protection is not a substitute for home insurance or any other type of liability insurance. These are separate and distinct types of protection. The Homestead protection will be effective after any liability insurance is used to pay for any judgments that are related to liability incurred under that particular insurance policy (e.g., home, automobile, etc.).

Read the full article and how to make sure you have a homestead at our newsletter page.  

Tags: Homestead Bankruptcy Protect Home Investment