PROPERTY 118, the landlord tax consultation specialist, is offering its readers a free landlord insurance…
AS one of the UK’s leading Land Liability Insurance providers, we thought it would be useful to explain exactly what this specialist insurance covers.
Public liability insurance only
Firstly, this is public liability insurance only. That is to say, if a tree hits a nearby house, your insurance should cover it. Then again, if you are not liable, then the insurance will repudiate it on your behalf.
The importance of understanding liability
For the purpose of Land Liability Insurance, it is the liability that needs clear explanation. To explain, you must be liable for any loss of injury caused. e.g. you have a neglected to fill in a massive hole on a driveway and a car crashes into it. To put it another way, you should have filled the hole in or put a sign up. If you’d done that, then the car would not have crashed and caused damage.
However, if a person is on your land and trips over, they may try to sue you for damages. While it may be true they have fallen on your land, if you have not been negligent, then your insurer will refuse the claim. On the other hand, if you have been negligent then your insurers will pay out.
A real-life example of Land Liability Insurance working
A client had a friend visiting, the final part of the journey being on a private road insured via Land Liability Insurance. Generally, there are no issues with the friend using the private road but on this occasion the friend tripped on a raised kerb. In this situation, the friend hurt themselves and decided to sue the owner of the land for negligence.
Undeniably you’d question how much of a friend the person is to sue you. In reality, if you have been negligent, then you are liable for any injury and they are within their rights. In the final analysis, the client was found to be negligent as the kerb was in disrepair with no warning signs and the friend was paid out £25,000 in damages.
What about land with unique features?
If you have land with a swimming pool, rights of way or other perils, then let us know. In short, we can insure just about any situation for liability only.
No material damage included
To clarify, there is no material damage covered for your property under a Land Liability Insurance policy. If a vandal burns your shed to the ground, this policy will not replace it or its contents. Contrarily, if the vandal injures themselves escaping and you are found negligent, it will pay out.
In general, we can extend liability to include buildings (if a slate falls and hits a passing car and damages it as an example. Subsequently we cannot normally insure any buildings, barns, moorings or other items for rebuild or material damage. Specifically, we could insure them, but the cost of the insurance as it is so bespoke and goes through Lloyds of London is extremely prohibitive, you’d be better off self-insuring in most cases.
How to buy Land Liability Insurance
The Home Insurer is an award winning UK specialist property insurance brokerage. In other words, you can have confidence in the insurance we sell. What’s more, we are members of the British Insurance Brokers Association (BIBA). Additionally, we have a 4.9 out of 5-star rating by our customers on Feefo.