Landlord Liability Insurance

As a landlord, one of the most important things is to make sure you have landlord liability insurance to protect against legal liability, and to understand your rights and obligations. Landlords must protect themselves from liability claims, which can range from negligence eg: loss flooring in common areas causing a injury claim to damage of tenants property

As well as responsibility for a building property a landlord has specific liabilities associated with being a landlord for either commercial or residential property. Landlord insurance provides insurance against these common risks. To be held responsible for  injury or damages on the premises, the landlord must have been negligent in maintaining the property, and that negligence must have caused the injury or damage to third party property.

• Landlord Liability Insurance protecting landlords from the financial costs of :
• Landlord liability insurance protects landlords against injury claims form failure to maintain common areas in a property

Injury or damage claims from tenants and members of the public visiting the landlords property

For example, if a tenant or anyone working at or visiting the property trips and breaks a leg on a broken front door step, the landlord may be liable and require assistance both legally and financially from their Landlord Liability Insurance policy

A tenant, workman or visitor to a landlord’s property can file a personal injury claim against the landlord liability insurance for any number of potentially expensive liabilities including lost earnings, pain and other physical suffering, permanent physical disability as a result of an accident.  Workman, visitors and tenants may also take legal action against a landlord liability insurance policy for damage or destruction to personal property, as a result of faulty maintenance or unsafe conditions.

Landlord liability insurance (also known as 3rd party liability insurance) protects you by covering your costly legal expenses and any claims that are awarded by the court to your tenants. Because of the sky high legal costs and payouts, landlord liability insurance is highly recommended for most rental property owners.

Put simply Landlord Liability Insurance protects landlords from the financial and legal costs of claims made by a third party.