Landlords – Are Your Liabilities Covered?

carried out on a property is done in a “professional” or “workmanlike” way, uses the “proper materials” and leaves the property “fit for human habitation” when completed.

What can go wrong?

Even the most diligent landlord will be at some risk under the law, as there is always the chance that a defect may arise that leads to an accident before they have had a chance to act. For instance, a leaky water pipe may arise as a result of the freezing and thawing conditions of winter and lead to a problem arising suddenly.

While such a claim may be defended in any civil case, the lower burden of proof means even a marginal decision could go against the landlord. Any successful claim against a landlord could have ruinous consequences and even if a claim is successfully resisted, the legal process can be very stressful.

Be insured, have peace of mind

The one way to have complete peace of mind and be fully protected against any claims is to have landlords liability insurance. This comprehensively covers against any case that may arise and ensures any claim against you is fully met.

It can be included as part of an overall landlord insurance policy and while it does not diminish your responsibility to make sure a property is kept in good order, it does ensure you are fully protected.

Being a landlord is an undertaking that should be treated like a business. Just as a company will have its own employer and public liability insurance, so landlord’s insurance will be vital in protecting your investment and future financial plans.