It is possible to invest in landlord liability insurance in case a tenant chooses to sue you in small claims court. Depending on the kind of lawsuit that it is, it should pay for defense costs as well as the cost of the settlement up to a certain limit. There are three types of landlord liability insurances that can be looked into to cover you in these cases. The first will cover a lawsuit that is meant to sue the landlord of injury due to negligence. This means that someone would have been injured on the property due to unsafe conditions on the property that were not taken care of by the landlord. The second type of insurance will cover the cost of the tenants' property should damage be caused due to something that should have been taken care of. These two should be covered with landlord liability insurance. An optional ad-on is to cover yourself for any suit having to due with slander, libel, defamation of character, etc etc...

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POSTED January 06 2014 1:50 PM

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