Click here to watch this video news report "Understanding Liability...Are You Liable?"

Jan 6, 2004/ FW/ --- Your home, car and jewelry are valuable items that you try to protect. But you not only need to shield them from accidents or burglaries, but also lawsuits. Welcome to the world of liability.

There are many ways you can become liable for unintended events. For instance, if your child inadvertently injures another youngster on the playground, if someone falls and slips on icy steps in front of your home, or if a guest in your house cuts their hand while doing the dishes - you can be sued.

Liability coverage is part of your overall homeowner's policy and can protect you against negligence charges in court.

Experts suggest that if you have a significant amount of assets, you should carry higher liability insurance.

With proper coverage, experts say you can help protect those tangible items that are near and dear to your heart.