General Liability for Rental Properties
It's prudent for landlords to have a general liability insurance policy for a rental property. It adds a sense of protection for the landlord knowing that if an injured victim files an insurance claim, the liability coverage will take care of the situation.
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Landlord Negligence
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Landlord negligence falls under the four general elements of negligence law -- duty, breach of duty, causation of damages, and damages. For example, if a fall occurs on a broken front step, the victim may file a claim for negligence against the landlord. The landlord has the duty to ensure the step is safe and free of defects. A breach of that duty occurs when the landlord had a reasonable opportunity to fix the step but failed to do so. The step, in turn, caused someone to fall, resulting in a broken ankle.
Liability Coverage
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When a claim for negligence is asserted against the landlord, the landlord's insurance company will process claims for bodily injury and property damage, according to Legalmatch.com.
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Legal Papers
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If the victim files a lawsuit, the landlord's insurance company pays for all legal expenses associated with the litigation.
Lease Terms
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Review the lease terms, according to Legalmatch.com, because they may indicate whether the landlord or the tenant maintains responsibility over a particular area of a rental property.
Other Claims
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Some basic insurance policies may not cover claims for libel and slander or wrongful eviction, according to Jeffrey Woo of the Sedgwick law firm. If you have any questions about what your policy covers, discuss with your agent about whether a broader form of coverage may be needed.
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