Homeowner's Insurance
Liability Insurance

Is liability insurance on property that is not being lived in necessary?


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2006-12-03 06:58:49
2006-12-03 06:58:49

Yes. If anyone is injured on that property, even if there without permission, the owner may be held responsible.


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Liability insurance is required for contractors in many states as a requisite to work. It protects both the contractor - the worker, and you - the employer, from any liability if the contractor is injured on the job (at your home.) Basically, if he is insured, you don't have to worry about being sued if he gets hurt on your property.

Farm Vehicles being operated on private property do not need liability Insurance. Only if you take the vehicle onto a public road, you will need the insurance required by law.

It depends on why your being sued. If your homeowners insurance covers the act that caused the suit, then you should have legal defense costs coverage if you purchased liability insurance with your homeowners insurance policy. If you did not purchase liability coverage then your insurance company will not defend you.

Public Liability Insurance is the ideal insurance that will cover someone injured on your property.This type of policy covers the insured's liability to members of the public. Such liabilities may arise as a result of the insured's business operation. The business being operated by the insured in his/her premises may at times lead to death, injury or accident to third parties, or damage to third party's property. Insured means policy holder.A bit more:Your homeowner's insurance policy will also include liability insurance if you have the right type of policy. Check with your homeowner's insurance company to see if you have that type of coverage.

Media liability insurance is used to protect publishers and journalists from being sued for defamation or invasion of privacy. Anyone who deals with collecting and publishing information should purchase this insurance.

You don't. You simply hire a reputable contractor who provides the insurance necessary for his or her line of work. Never hire a contractor who can not show you that he is properly insured for the job being offered. It is the contractors responsibility ( not the customer ) to provide coverage necessary to cover his workers as well as any accidental damage to your property. If your contractor give you any flak or hesitancy at all when asked about his insurance, you need to find another contractor.

Yes, all cars must be covered by a liability insurance policy. The minimum coverage includes $25,000 injury liability for one person, $50,000 for all injuries in an accitdent and $25,000 property damage. There is an option to have get a motor vehicle liability bond or make a deposit of cash with the state treasury with neither being less than $50,000.

The initials PLPD stand for Public Liability and Property Damage and which is basically the same as bodily injury and property damage (BI and PD) liability coverage. The necessary conception of public charge in terms of auto insurance is it would cover you in the occasion that your car causes damage or passing away to a third party and property damage is if your car costs someone else's assets.In Michigan:This short form of P.L.P.D. is usually used by a human being, regularly from Michigan. When they are stating they have a "bare bones" automobile insurance, though the insurance type it is referring to has been out of date for nearly 30 years in Michigan. In the early 1970s MI changed over to a no-fault scheme with different insurance necessities.

If the car is registered, meaning that it has license plates, it must have liability insurance. If you hace a loan, the bank probably requires insurance. If it is just sitting on private property without tags, no insurance needed.

You would need property coverage and building personal property coverage specific to your industry. Being a florist, you have to account for what happens if the cooling system goes down and you lose your inventory. If you have clients coming into your location you need general liability insurance as well. Feel free to contact me at to discuss further and/or get a quote.

It would definitely be worth getting liability insurance for your new business. It is in place to protect businesses from being sued by a third party due to negligence. Having liability insurance is a must for any business. Liability insurance, or business insurance, protects your company against lawsuits that claim you failed to use reasonable care.

Liability provides coverage for claims or losses in which you can be held liable for damages or in which you have been accused of being responsible. Comprehensive coverage would also provide coverage for other aspects of your business, such as property, inventory, business autos and equipment, cash flow, etc..

Whether you are driving to work or driving on vacation, the law requires you to carry liability car insurance. The minimum amount of coverage you must carry is mandated by each state. Your coverage protects you in your home state as well as in any other state in which you may be traveling. Liability insurance is mandatory because it covers injury or property damage you may cause. If you get in to an accident that is your fault, your liability insurance will pay up to the full amount of your policy. Today, minimum requirements will usually not be enough if you are involved in a serious accident where someone is badly hurt. To protect yourself from being sued personally, you should buy a sufficient amount of automobile liability insurance.

A limited liability company, or LLC, is its own entity and can possess assets, property, and liability. This allows you shield your personal assets from the assets of the limited liability company.

It depends on how and why they got hurt. Bear in mind that contrary to popular belief, a property owner is not automatically liable for any and all injuries that occur on the property. Your home insurance policy's liability will only pay for those injuries that you are liable for.Simply being the owner does not create a liability. You would need to be the cause of the injury either through action or negligence in order to be held liable.Most accidental injuries are going to be better handled by our now mandatory health care insurance policy. Our health insurance has no limits and it does not matter how or where an injury occurred.

Commercial property insurance is often higher because the space in question is being used for a business that may or may not fail. However, residential property insurance applies directly to the resident or owner and is less risky.

The property is covered by the owners insurance only. If your trailer hit their property, their own insurance must cover it. If your trailer hits your own building, then your insurance will cover it.

General contracts must carry at a minimum liability insurance along with being bonded by the state. Liability insurance should be no less than $1 million and could be much higher depending on the job.

A third party, regardless of the industry, is any entity or being other than the first party, which is you. Property is a "first party" insurance coverage since it covers YOUR property. Liability is a "third party" insurance coverage because it covers parties other than you who might bring a suit against your company.

Third party insurance, is also called liability insurance. This type of insurance does not cover you per say, but it covers others. When you are involved in an auto accident for which you are at fault, your liability or third party insurance will cover injuries and damages you cause to others, up to your liability limit. For example if you run a stop sign and hit another car, your third party insurance would cover the injuries, medical expenses, and property damage of the car you hit. You have a limit of third party insurance which is outlined by your policy and determines how much you pay for insurance. Each state and province has their own laws, but most require that you have a minimum amount of liability insurance. This is to protect all drivers because if the damages of an accident exceed your liability amount, you will be required to pay the difference, which can end up being several thousand dollars. Therefore it is recommended that you increase your third party liability above the state minimums. If you want your vehicle covered, you need to get comprehensive or collision coverage.

A driver's license or a learner's permit is necessary in order to buy liability insurance. The insurer's underwriting of the risk is dependent upon some minimum showing of the ability of the applicant to operate the vehicle, and a license evidences that. It is not necessary to own a car in order to obtain liability coverage. Most insurers will sell a liability insurance product that is generically referred to as "non-owners coverage". This sort of policy is tied to the person who purchases it and provides liability coverage for him/her regardless of the vehicle being operated. Other kinds of auto insurance, such as collision and comprehensive coverage require that the person purchasing it have an "insurable interest" in the vehicle. This means that he/she has a financial stake in the continued existence/condition of the vehicle.

The term "Liability" means anything you are libal for. The best way to put it is the liability section of an insurance policy covers other people's bodies and stuff, in the event you harm either of those things. The medical and car repair bills for anyone else involved in an accident you caused

Whenever you own a home. * Homeowner's insurance is mandatory while the property is being financed, and always the best option when property is owned outright.

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