The Importance of Landlord Liability Insurance
So, what is Landlord Liability insurance? Landlord liability insurance guards landlords from compensation claims made by a third party. This could be a tenant, visitor or a tradesperson, whose person or property would have gotten injured due to a fault that can be attributed to your property. Accidents caused by, for example, a loose carpet or a wayward house tile can cause third parties to take legal action against you.
In such an eventuality, your liability insurance should cover all legal fees and compensation costs incurred by you or those awarded the claimant.
Landlord liability insurance guards landlords from compensation claims made by a third party.
Do You Really Need Landlord Liability Insurance?
Many landlords question whether they really need liability insurance. Unfortunately as much as you put all effort into ensuring that your rental property is in tip-top condition, accidents can happen. When they do, they are usually costly. So while landlord liability insurance may not be mandatory, it definitely is good to have in case something happens.
Besides protecting you, this type of public liability insurance also ensures that your tenants, or any other party that gets injured on your property, receive the right kind of care. Having liability insurance is a great way of taking care of your tenants and other people who may traffic your property.
Ready to Protect Your Tenants (and Yourself)?
Now that you know what landlord liability insurance is (and why you need it), why not take the next step to protect your tenants, their property, and yourself. At Edison Ives, we are dedicated to helping landlords like you get the best insurance deals. We are business insurance specialists, so you can trust us to get the best deals on the market.
At Edison Ives, we are dedicated to helping landlords like you get the best insurance deals.
Call today to discuss your insurance requirements on 0113 390 46 46. Or, if you’d rather your fingers do the talking, send us an email. We’ll walk you through all the options available to you and help you settle for the one that suits your needs.