Could Your Teen’s Party Become a Liability?

By theadmin

It’s time to celebrate new high school grads. You may have a cookout for your teen and friends on the patio. You may sign off on him taking friends to your hunting camp, your lake house, or your condo on the coast.

But are you putting yourself and your finances at risk? The Insurance Information Institute suggests reviewing your liability coverage carefully to make sure your assets are protected before you let confetti — and caution — get thrown to the wind.

Don’t Make Assumptions

Regardless of your teen’s responsibility level, you can’t always control circumstances or what friends may do — or bring — to a party.

Under the state’s social host laws and under certain circumstances, you can be held liable for people injured as third parties by those who attended a party you’ve hosted. Whether in auto accidents or other incidents, the blame may be on you.

Protect Lives First

Smart parents protect their teens, first and foremost, with strategies such as:

Rounding up car keys when the party begins. Have a conversation about tired driving with guests before they retrieve the keys and leave the house.
Offering rideshare or taxi services. Let guests know alternative transportation can transport guests to and from the party.
Designing a contract for responsible behavior. A new trend has parents developing a written contract for teen party guests who must pledge good behavior in writing.

Check Your Coverage

To protect your assets from liability, and from legitimate or potentially frivolous lawsuits:

Host parties at off-site facilities rather than homes. Licensed facilities, instead of you, may bear responsibility for violations of the law by party guests.
Check to make sure your personal liability limits on your Texas Farm Bureau Insurance homeowners and auto policies have sufficient coverage. The right coverage can protect your assets if you host a party at home where an injury occurs during the event, or afterward as a result of actions by someone who attended your party.
Look into an umbrella policy. It provides liability protection over and above your typical homeowners policy coverage. It can protect your assets if someone sues you for damages and wins.

Call your Texas Farm Bureau Insurance Agent today to schedule a 360 Review and talk about your liability exposure. Then enjoy spring celebrations with less worry.