New Orleans & Metairie Premises Liability Insurance
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What Is Premises Liability Insurance?
- Liability arising from injuries or property damage to or that belongs to someone else that occur on property you own.
- Premises Liability is usually included in the Personal Liability coverage found on your homeowner’s, renter’s or condominium package policy. The Personal Liability on these package policies usually extends for incidents that may occur on or off the property, but Premises Liability only covers the property or properties listed on the policy.
- Example: A guest of a tenant at one of your rental properties slips on the steps and sues you for his or her injuries.
- Premises Liability pays for any damages awarded up to the policy limit and the cost of defending you against a lawsuit brought by an injured person.
Who Needs Premises Liability Coverage?
Premises liability can be written to compliment policies that do not include liability, for example:
- Builder’s Risk Policies
- Renovation Policies
- Dwelling Policies
- Vacant Dwelling Policies
What Types Of Property Qualifies For Premises Liability Insurance:?
Premises Liability can be written on the following property:
- Vacant Lots
- Dwellings under construction or renovation
- Dwelling rented to others
- Vacant Premises (both between rentals and for sale)
How Much Premises Liability Insurance Should I Buy?
- Liability limits start at $100,000, however you can purchase up to $1,000,000 or more, if needed. Please consult your agent for suggestions on the amount of coverage.
- You can also purchase an umbrella policy or excess liability, which provides a broad coverage, to include claims against libel and slander. Limits start at $1,000,000 and can go up to $10,000,000.