Apartment Landlords – Legal Liability and Contents Cover
Landlords / Property Owners, DID YOU KNOW that the OMC (Management Company) Apartment Block insurance policy, which you contribute to via your annual management / service fee, does NOT provide you with legal liability and contents cover as a Landlord / Property Owner within the walls of your apartment unit.
Therefore, if you don’t have separate liability and contents cover (as a Landlord / Property Owner) for the internals of your rented apartment unit, you are not protected from injury or third party property damage claims taken against you by tenants or visitors to the apartment unit (unless caused by a ‘building defect’).
Claims resulting from Third Party slips, trips & falls (and other injuries) within your rented / licenced apartment can be taken against you by a tenant, visitor or occupant of the apartment. And even where you are found not negligent for such injuries, the cost of defending yourself through the legal process could amount to significant sums.
Examples of claims we have seen from tenants / occupants of apartment units taken against the Landlord include but are not limited to;
- Electrical Shock – tenant decided to change a light bulb and sustained a minor ‘electrical shock’ which also caused fall injuries – claim pursued against Landlord was successful at a five figure sum including all legal costs and the court award.
- Painting Ceiling – tenant who used a coffee table as a prop to paint the ceiling of the apartment, fell through the table and sustained significant injuries upon impact rendering him unable to work – protracted claim against the Landlord was successful with a large settlement. Claim against OMC block policy incidentally was unsuccessful.
- Assault – a visitor to an apartment was assaulted by another occupant – claim taken against the Landlord was unsuccessful, however, a five figure legal bill was incurred by the Landlord personally as the claimant was deemed impecunious and the matter had dragged on through the courts for years.
In order to protect one’s self from such claims, it is vital that the Landlord / Property Owner has separate Public/Property Owners Liability and contents cover for the rented apartment unit. This can be achieved by purchasing a Landlord’s Contents policy which includes also Public/PO Liability coverage. These policies are generally at minimal cost but bring peace of mind which is invaluable.
You will also avail of Property Damage cover for the moveable contents you have provided as Landlord with the letting as well as Fire Brigade Charges cover. You can also avail of an extension under the Public/PO liability section covering casual property repairs or maintenance persons.
Contact S.A. Faughnan (Brokers) Ltd. on 01 824 5555 or at newbusiness@safaughnan.ie or visit us at www.safaughnan.ie
