General Liability Insurance for Investors
Today, it seems as if someone is always suing over even the most minor accidents. This means property investors need to protect themselves. When you own rental property, whether it is commercial or residential, you are at risk for unfair housing claims, injury claims, and property damage claims. While business liability insurance may be covered under another aspect of your insurance, Steven Graves Insurance in Dallas, TX, can help you understand whether you need a separate general liability policy.
Understand Your Coverage
It is essential for all property investors to understand their general liability insurance coverage to make sure they have the amount of coverage they need. A good business liability insurance policy will cover:
- Bodily Injury
- Property Damage
- Personal Injury
- Advertising Injury
It will not cover any punitive damages that may be the result of a lawsuit. What it will cover is the cost of hiring an attorney to represent you in court, as well as the replacement of damaged property or the cost of medical care for the injured party. Each liability insurance policy will list a maximum out of pocket cost for policy holders. This can give investors peace of mind while renting their properties.
Get a Free Quote
Whether you are a new investor who needs general liability insurance or you would like to re-evaluate your current business liability insurance, we offer free quotes. One of our representatives in Dallas, TX, will discuss your needs and options with you so you can determine what level of insurance you require. Armed with this information, you can make the best choice for your investment property business.
If you are interested in learning more about general liability insurance for your investment properties, contact us. We can help you make the right choices to protect your investments.