Landlord liability is one of the most important coverages on your Florida landlord insurance policy. Unfortunately, we live in a litigious society. Landlord liability covers you for things that you are legally liable for. It also covers your cost of defense against a claim.
How Much Landlord Liability Coverage do I Need?
Liability claims can get very expensive, very fast. However, the coverage isn’t very expensive. We can price out different options for you, but we usually recommend 1 million liability. If your properties are in your personal name, an umbrella policy is also a great option.
What Types of Things Do I Need Landlord Liability For?
Coverage applies for things that you are legally liable for, except for listed exclusions. Some things like pets, pools, and trampolines bring an increased risk. Make sure stairs have proper handrails, and landings have proper rails. Many landlords try to make sure tenants and workers have their own liability protection. This is especially important for high-risk trades – tree trimmers, roofers, electricians, etc.
These are all things to consider to help minimize your liability risk. However, if an accident happens, you don’t want to risk the assets that you’ve worked so hard for. Make sure you have the property liability protection.
Don’t leave yourself open for a large lawsuit. Make sure your property is protected against liability claims. Our team at Think Safe Insurance is here to help. We will be glad to review your current policy or get a new policy set for you and your property.
Contact us today for your FREE Review or call us at 813-425-1626.