Personal liability insurance:This type of insurance protects the holder and insured individuals against damage to third parties resuting from claims made according to legal liability regulations. They state, "those causing damage to others either by accident, negligence or upon intent must provide reimbursement or compensation". All your personal assets are liable to such compensation, which is why it is so vital to have liabilty insurance.
Household insurance:
Covers damage to personal household goods. Basic household insurance covers household damage due to theft, fire, water and natural forces. Additional protection may be bought for damage due to glass breakage and simple theft outside of home.
