Premises liability insurance protects homeowners from lawsuits brought by injured visitors due to accidents on their property. It covers damages and legal representation, but not intentional harm caused by the homeowner. Most standard policies include it, and there is usually no deductible.
Liability insurance is a type of insurance a homeowner purchases to protect against accidents that could happen to other people who visit their home. These accidents are often so-called “slip and fall” accidents because many are the result of accidents occurring on a person’s property due to circumstances such as icy walkways or bad pavement. In cases like these, premises liability insurance protects the homeowner from any lawsuits that might be brought by the injured party to pay for the injuries. Insurance usually covers attorney’s fees and will pay for most damages, unless it is believed that such damages were caused intentionally by the homeowner.
All homeowners have legal responsibility for any injuries that may befall those who visit their home. Such injuries are what premises liability insurance calls for, and such injuries can include falls that result from slippery driveways or sidewalks, dimly lit hallways within the home, floors with gaps or poor condition, a nasty step on a ladder or various other common household hazards. . Homeowners are generally held liable if they knew about the conditions and did nothing about it, or if they should have known about the neglected area.
Without liability insurance, anyone who has been injured in their home could be entitled to any assets the homeowner has as compensation for the damage caused by the injury. Insurance not only pays for damages, but also handles legal representation and court costs if the accident leads to a trial. In cases like this, the insurance company, rather than the homeowner, usually has the authority to dictate legal proceedings and can decide whether to settle the case.
Most standard insurance policies contain premises liability insurance. If the home is mortgaged, the bank or mortgage holder will often require such insurance to protect their assets. There is usually no deductible for such a policy, meaning the insurance company will begin paying damages immediately when needed without any original payment from the homeowner. The homeowner will be liable for any damages not covered by the policy or for any damages that exceed the policy limits.
There are certain circumstances where premises liability insurance does not cover a homeowner from injury to a visitor. Premises coverage does not usually include injuries caused intentionally by the homeowner. For example, if a homeowner got into a fight with a visitor in the house and inflicted injuries, this would not be within the scope of the insurance policy. Also, if a homeowner intentionally sets up booby traps or other homemade devices with the intent of catching trespassers, he or she would not be covered if the traps accidentally injure someone they weren’t meant to harm.
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