A falling roof tile, an icy sidewalk in winter – damage can be done quickly on a plot and just when people are affected, the cost can very quickly reach high sums. While you are usually protected by your private liability insurance at a home, this does not apply to rented property.
Who needs a home and landowner liability?
If you own a house or building that you do not use but rent to third parties, you need extra protection against claims for damages by third parties. Because on the property it can always come to an accident, such as when a walkway slab is loose and thereby someone crashes. Even if a path or the entrance to the house is poorly lit, causing someone to be harmed, you, as a landlord, are liable for it.
You do not even have to be directly responsible for the damage. You are required by law to ensure that your property and the building on it are in perfect condition and nobody is at risk. But some sources of danger are not necessarily obvious. So a storm can quickly solve a roof tile that has not previously made the impression of being loose.
Pay attention to the scope of the insurance
If you want to protect yourself from possible damage, you should also pay attention to the scope of services. Personal injury can cost millions. Therefore, a good homeowners liability insurance should also cover costs of several million euros. Do not compromise here, because a higher sum insured increases the insurance contributions by little more than a few euros a year.
If you only have a room or a condominium in your otherwise self-occupied home, your personal liability insurance may apply. Inquire here with your provider, whether a corresponding policy protects you. So you can possibly save contributions for the house and landowners liability.
Services of a home and landowner liability
A home and landowner’s liability offers the homeowner protection against the claims of third parties. Because as an owner, you have to ensure that nobody gets hurt on the property and on adjacent traffic areas. But you can not exclude any danger, so that the house and landowners liability then intervenes, if something happens. Your insurance company checks whether you are responsible for the damage incurred, takes over the claims and, if necessary, averts unauthorized claims – even in court.
Here are some examples of house and landowners liability:
- In the case of black ice, a passerby falls on the non-strewn sidewalk.
- The stairs are too heavily so that a visitor slips.
- A tree standing on your house plot overturns and damages parked cars.
- The postman stumbles over a brittle stone slab on your property and breaks his hand.
Incidentally, even if you transfer your tenants clearing the road in the snow by the lease, you are still liable.
Settle costs of the insurance in the operating costs
As the owner, you have the option of transferring the contributions for the property and property liability insurance to the tenants as incidental costs in the utility bill. However, you must note that all additional costs are listed in the lease. A blanket statement (“The tenant bears all insurance costs”) is not enough.
It is also advisable for owners’ associations to take out homeowners liability insurance, as this covers accidents that occur in areas that belong to the common property, such as the stairwell. If the owner of the house changes, the insurance cover is not transferred to the next owner as in the case of building insurance. When changing ownership, the insurance must be terminated, which is possible with the day of the land registry change. The new owner must complete his own home and basic liability.
Compare fares and find the best deal
The house and landowners liability can save you from high costs. However, it should not cost too much. It is therefore advisable not to take out the first insurance, but to look more closely at the possibilities. Request a free, no-obligation quote now and let one of our insurance experts advise you on your needs.