Insurance that includes public liability cover can be an effective way to achieve peace of mind as a landlord and is a critical aspect of residential landlord insurance.
If an accident occurs on your property, as a result of your proerty, it's likely that you'll be legally responsible and could be lumbered with a hefty claim for damages.
What is it?
Public liability insurance can help cover you for costs or damages that are awarded against you. This can occur when a member of the public is injured or suffers an illness becuase of your premises.
For example, if a tenant suffers an electric shock from a badly fitted plug socket or faulty appliance whilst residing in a property that you own, you may be held responsible.
What does it cover?
It can help cover any claims that arise should you be deemed to have been negligent or made a mistake which results in someone being injured or suffering an illness. It might cover any medical expenses that the injured party incurs. It may also cover the legal fees that would stack up from consulting solicitors or having to go to court.
Why should I have it?
More and more companies are offering a 'no win no fee' service which seems to be encouraging individuals to make claims. If you are the subject of a claim, then legal fees can be very expensive and the process can be long and time consuming. Help protect yourself, your tenants and your investment by getting the right amount of cover. Even if a claim turns out to be spurious, you'll still need to legally defend yourself.
How much will it cost?
This depends on the type of property that you own. Sometimes premiums are calculated based on the size of the property or how many people live there (such as in a multiple occupancy property).
Land owners should also consider taking out public liability insurance as claims can be made against the land owner if a member of the public is injured on your land.
Some private home insurance policies do include public liability insurance but as a landlord, property or land owner you should consider a more inclusive and comprehensive policy that covers for any larger claims that may arise.
Read more in our landlord insurance guides or get a quote now.