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Old 05-29-2011, 07:34 PM
 
Location: Ridgewood NJ
592 posts, read 2,028,813 times
Reputation: 308

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this insurance below has coverage for:

Quote:
Liability condo insurance coverage protects you in two ways. First, it provides for your legal defense against a liability claim (lawsuit). Second, it pays any court judgments for covered losses against you, up to the policy limit.

Condo Insurance Coverage | Condominium Insurance Coverage To Meet Your Needs
does anyone know if this liability coverage will cover landlords who get sued by their tenants, for example if the tenants get injured in the apartment due to a faulty appliance etc...

thanks.
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Old 05-29-2011, 07:45 PM
 
Location: The Triad (NC)
31,175 posts, read 68,206,460 times
Reputation: 37024
I'm not a lawyer and I don't even play one on TV, but...
All LL's should have general liability and an umbrella policy.
LL's who operate in a condo building... deserve what they get.

but if they keep doing that anyway...
then they'll need some sort of additional indemnity that names the Condo Assn
along with some sort of reciprocal agreement that shows the Assn knows and approves of what they're doing.

Whether this item meets those standards... I dunno. I'm not reading it.
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Old 05-30-2011, 11:39 AM
 
1,465 posts, read 4,735,504 times
Reputation: 857
The policy you need is called HO6. It generally does cover liability but check with the actual carrier to find exclusions.

Also I require tenants to have renter's insurance (sometimes I pay for it). Then they can file their own claim. I have them get renter's insurance for many other reasons, but it will address the item you listed.
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Old 05-31-2011, 09:32 AM
 
Location: Ridgewood NJ
592 posts, read 2,028,813 times
Reputation: 308
thank you.

Quote:
LL's who operate in a condo building... deserve what they get.
what does this mean? why do i deserve what i get for renting out condo units i own?
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