Be wary of too much holiday cheer

Many would-be hosts are completely unaware of their potential liability when hosting a holiday party.

More than two-thirds had no idea they could be held financially liable should a partygoer leave their home and cause an accident.

Liability concerns exist inside the home as well. Tipsy guests are more prone to falls and accidents around the house. Should someone trip and injure themselves, the host could be held responsible for their medical bills. This liability exists regardless of whether or not the host owns their home.

Agencies may consider reaching out to customers before their holiday party calendars get too full and make sure customers are adequately covered in the event someone is injured on their property.

Below are a few steps agencies can recommend to customers to help reduce accidents and injuries during the holiday season:

*When entertaining guests, be responsible yourself.

It will be much easier to determine whether or not a guest is able to drive if you're sober yourself.

*If your guests drink too much, arrange a ride with a sober driver, call a cab or insist they sleep at your home.

*When hosting a party, offer plenty of non-alcoholic beverages and serve food to help slow the absorption of alcohol.

*Stop serving alcohol at least one hour before the party is over, and never pressure others to drink or rush to refill their glasses when empty.

*Check your insurance policy and make sure it provides appropriate liability protection.

If you rent and do not have a renters policy (approximately 60 percent of renters do not), consider purchasing one as it provides valuable liability protection.

*Consider getting a personal umbrella policy (PUP). An umbrella policy supplements your homeowner or renters policy by providing additional liability protection (typically beginning at $1 million in coverage).

While it may sound like a lot of money, keep in mind that legal costs and awards in drunk driving lawsuit can get very high.

While a homeowners policy provides a level of liability protection, it may be considering purchasing a PUP policy include:

*You will not have to face court alone.

If you are sued over and incident covered under your personal umbrella policy, your insurance company will retain an pay for an attorney to represent you in court.

*Your coverage goes everywhere.

So, you are covered no matter where you are, including outside the U.S.

*Help with gaps in your coverage.

Homeowners and auto policies do not cover certain types of incidents, like those alleging slander.

But a personal umbrella policy helps provide protection for this kind of incident as well as others.

*Payment by your insurance company on your behalf.

In the event of a covered claim, you will not have to pay out of your own pocket first and submit for reimbursement.

*Reimbursement for lost wages.

You will be reimbursed for the wages for your absence from work for a court appearance, up to the limits specified for this benefit in the policy.