What Does Landlord Liability Help Cover?
Your policy could help cover you for any medical or legal costs you may incur while being a landlord. It may also help pay for any damages that occurred on the property up to a certain amount stated in your policy.
Basic landlord liability insurance may include the following:
- Tenant injuries: if you’re found negligent in maintaining the property, or failed to warn the tenant of a potential safety risk
- Proper security for your tenants: in terms of lighting and parking safety
- Unlawful behavior by tenants that you fail to take measures against your tenants if you were to have issues with any neighbors
- Liability: to cover you against claims of accidental damage in relation to your property
- Fair Rental Value Coverage: to cover lost income due to your property ever being declared unlivable due to a covered loss
- Inflation Protection: which automatically adjusts your policy limits to changing inflation rates
- Personal Injury Protection: should a tenant claim injuries arising out of libel, slander, invasion of privacy, wrongful eviction or wrongful entry
- Lock replacement: to cover the costs of replacing locks and keys (if lost or damaged)
