North Carolina Landlord Insurance

North Carolina landlord insurance offers a great deal of protection to landlords all over North Carolina. There is one type of protection included in the policy, however, that can offer the landlord what may be considered "priceless" protection and that is liability coverage. It is this coverage that could save you a lot of money

It is rather unfortunate that we live in a litigious society, but there are times in which lawsuits are warranted because a person may be legitimately injured. If there is a chance that an individual is injured on your rental property and it is due to your negligence, you will need the financial protection to cover the damages.

You don't want to have to cover the damages all on your own without any help financially. Because medical expenses can be in the tens of thousands of dollars, you don't want to have to pay such an expense out of your own pocket. This could prove to be detrimental to your finances. Luckily, North Carolina landlord insurance can make sure you don't have to pay out of your pocket.

When a Liability Exists

It's good for you to know when a liability actually exists so that you know that you are responsible. There are some instances in which you may not be responsible and, of course, that is the ideal result for you. However, in North Carolina, there are a number of cases in which the landlord is held responsible for damages that are the result of an injury.

Nevertheless, the liability must be proven. If it cannot be proven, then a landlord does not have to worry about being held liable and payment by the North Carolina landlord insurance company does not become necessary. This is good for you and your landlord insurer in North Carolina.

But it must be proven that it was your responsibility to maintain the portion of the premises in which the individual was injured. In many lease agreements, the lease states what the tenant is responsible for and what the landlord is responsible for. If you are not responsible and the tenant is, then it is up to the tenant's contents insurance that they purchased to take care of their own liability issues and not your North Carolina landlord insurance.

It must also be proven that you didn't take the steps necessary to avoid the accident. If there were steps that you could have taken and didn't, then your landlord house insurance is going to paying damages for you. And if fixing the problem or even providing warnings were to be unreasonably expensive, this is something that you must prove in order to try and keep your North Carolina landlord insurance from having to pay the damages.

It is the burden of the injured, however, to prove that their injury was the result of not fixing the problem. If they cannot prove it, then you will not have to seek out the assistance of your North Carolina landlord insurance to pay for the damages. And if the injury is not the result of something not being fixed, it must be proven no matter what that you were at fault.

All-in-all, the burden of proof is on the victim. However, you will be asked by the property insurance company to provide any information relevant to the claim. When all of the information is put together, liability or lack thereof can be determined. There are many claims filed in North Carolina, but not all of them result in payment from the North Carolina landlord insurance company.

Who Pays?

Because you have North Carolina landlord insurance, you may want to make it a requirement to have your tenants take out contents insurance. When landlords do this in North Carolina, it is more or less for the protection of the tenant. But here is another reason to make them do so: If you have in the lease agreement that you will maintain certain parts of the property, while they maintain other parts, you can avoid liability issues later.

For example, you may state in the lease agreement that you take care of issues outside, while your tenant takes advantage of issues inside. If the tenant does not want to get coverage, explain to them that your North Carolina landlord insurance does not cover their contents or the part of the property they are responsible for. This may change their mind.

You can also tell them that they can get North Carolina insurance quotes to find the best policy for the best price. You can do the same so that you can find the best rate. That way you will have New Carolina landlord insurance to protect you against liability claims. You are also protected against property loss.

Landlord Insurance Properties