In our first two videos we discussed Buildings Sums Insured, Under Insurance and Average

In our next video in the series we will look at our third frequently asked question;

What Is Property Owners Liability and why do I need it?

Property Owner's Liability insurance can cover any costs and damages awarded to a third party if they suffer a bodily injury following an accident, illness or disease whilst on or linked to your premises. It can also cover legal expenses including solicitor's fees and court costs plus claimant expenses.

For example if a tenant were to fall down the stairs due to poor maintenance they may take legal action against you for their injuries plus other costs incurred such as medical expenses, subsequent loss of earnings and even compensation.

Property Owners Liability cover is usually automatically included in your buildings insurance and the level of cover is typically £1 million, however Click4quote provides £2 million as standard with the option to extend this to £5 million.

Should you receive a claim of this nature against you the reassuring news is that with this cover in place most insurance companies will deal with it on your behalf. So even if the claim turns out to be false or the outcome is in your favour you should not be left with an expensive solicitor's bill.

As you can see, Property Owners Liability is an important part of your property owner's insurance policy.

In our next video we will discuss how to make a claim on your insurance policy.

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