Property Owners’ Liability

Specialist Liability Broker

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Property Owners’ Liability

Despite your best intentions, accidents do happen in premises and if the accident is as a result of something you or your business has done, then a tenant, a client, a contractor, or a member of the public can take a claim against you, or your business (as owner of the property) for compensation. Your Property Owners’ Liability can be triggered by something as simple as tenant slipping on a defective carpet or stairs or a contractor slipping on a wet surface in your office, incurring illness, injury or damage.

To help protect your business, S.A. Faughnan (Brokers) Ltd. can provide property owners’ with public / property owners liability insurance in conjunction with with a range of property and / or business covers including Property Combined Insurance.

What does Property Owners’ Liability insurance cover me against?

Injury or Illness claims from Third Parties
Costs of defending a Third Party claim
Legal costs and resultant financial loss

Property Damage claims from Third Parties
Compensation awards made to Third Parties

Why have Property Owners Liability insurance?

Even if you don’t have visitors to your property, office or home, you could still suffer a property owners liability claim against you or your business; for example, if you accidentally damage a client’s property in their office, at their commercial premises or on site (Third Party Property Damage)
Easy access to ‘no win no fee’ legal services which help individuals claim compensation may increase the likelihood of an individual or business experiencing a property owners liability claim
Anyone working for you could trigger a public liability claim against you or your business if their actions injure a tenant, a client or member of the public or damage their property
Financial Institutions will often insist that their client maintain public / property owners liability insurance on their property(ies) and in fact it is a requirement of the Residential Tenancies Act, 2004 that this cover be maintained in residential units let to tenants

How a Property Owners Liability insurance policy protects you and your business…

Covers you when you have to pay compensation to a tenant, client, contractor, local authority or member of the public who is injured or incurs property damage and you or your business is at fault
Pays out legal fees spent in defending a claim and any resultant financial loss