Monthly Archives: May 2018

If Someone Gets Hurt on My Property Am I Liable?

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As a property owner in Albertville, MN, you have a responsibility to maintain a safe environment so that people who come on the property don’t suffer any type of injury. This responsibility has an official name – premises liability. This essentially means that residents of a property or property owners are liable for any accident or injury that occurs on their property.

This is why it is so important for you to purchase a property insurance policy from Pizano Insurance, to protect yourself.

How is Liability Determined

It is important to understand that liability will also be dependent on several factors. Some of the factors that determine liability include:

  • The visitor’s legal status (i.e. an invitee, social guest, licensee, trespasser, etc.)

  • The property’s condition and the actions of the visitor and the owner

  • If the person who suffered the injury was a child or trespasser

  • If the owner or the visitor had any fault in the action that resulted in the injury

  • The special rules that apply to landlords

What to Do to Prevent Accidents on Your Property

To help reduce the risk of an accident occurring on your property, you need to take steps to ensure everything is in good repair. The fact is, if someone trips, slips, falls or is injured in some other way, you are legally responsible. If you have the proper insurance policy in place, then you don’t have to worry about paying for the injuries or damages that occur out of your own pocket.

Learn more about insurance for your property and to protect yourself and your assets in Albertville, MN by contacting the helpful staff at Pizano Insurance. 

 

Why Every Landlord Needs Umbrella Insurance for Their Rentals

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 So, you own a residential property that you rent out to others? Whether it is a full home, single apartment or room, congratulations are in order. Real estate management is one of the best ways to attain wealth.

Now your task is to retain the standard of living you have acquired. Never make the mistake of assuming that your standard home insurance policy is always enough to protect your investment in times of need. When an accident, lawsuit or other calamity strikes, you will need way more financial resources.

Umbrella Insurance

Assuming that standard home insurance coverage will save you in times of need can prove a costly mistake. The costs of litigation, medical bills and home renovations are rising exponentially. In Albertville, MN there have been owners who have lost their properties totally after an unforeseen accident. Do not let this happen to you.

All you have to do is speak with the trusted agents at Pizano Insurance for professional advice about umbrella insurance to cover your rental property.

Umbrella insurance is a policy that extends your current coverage for miscellaneous events. Think of it as your safety net.

The Problem

Unfortunately, the internet has provided renters with lots of misinformation about their so-called rights. Landlords find themselves under siege. Lawsuits are filed daily, often for trivial reasons. Some unfortunate landlords have to settle out of court just to save money. Others cannot afford to litigate and have to go bankrupt. They lose their rental properties. Umbrella coverage could have saved them.

Likewise, when disaster strikes, such as a flood or fire, you do not want to count on your standard insurance to take care of the bills. Displaced tenants may need somewhere to stay in the interim while you repair the facility. Guess what? You might have to pay for them. The amount can be staggering. Fortunately, with umbrella insurance, you will be better able to take care of these expenses.

Get More Information Today

All you have to do now is contact the helpful agents at Pizano Insurance to find out more about umbrella policies. These professionals want to help you be the best Albertville, MN landlord possible.