Owners, Landlords, And Tenants Liability Policy

Definition of "Owners, landlords, and tenants liability policy"

David Stonier real estate agent

Written by

David Stonierelite badge icon

Achieve Realty

Coverage for bodily injury and property damage liability resulting from the ownership, use, and/or maintenance of an insured business's premises as well as operations by the business anywhere in the U.S. or Canada. Businesses that qualify for the Owners, Landlords, and Tenants Policy include mercantile establishments, apartment buildings, and office buildings. The only ineligible firms are those engaged in manufacturing. Excluded perils are: operation of an automobile, aircraft, contractual liability resulting from an agreement by the insured, war, nuclear disaster, and liquor liability.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Method of classifying risks to establish equitable rates. In many property and liability insurance lines, the location of an insured has a significant impact on the loss experience. For ...

Circumstances in life insurance in which, although a minimum rate is guaranteed, a policyowner may earn additional (excess) interest, depending on the company's investment return. ...

Requiring assets and liabilities of an insurance company to go up or down together on a proportional basis. The duration of the asset and liability should be approximately the same. For ...

Condition that results from injury or disease that is not job related. Workers compensation applies to employees disabled by on-the-job injuries or disease. In addition, five states require ...

Computer system established by London trade associations for processing insurance policies. The work of LIMNET involves the notification and settlement of insurance policy claims. ...

Clause in a property insurance policy that requires the insurance coverage in that policy to be allocated in the proportion that it bears to the total insurance coverage in force from all ...

Bureau insurer that files its statistical and underwriting experience with a rating bureau. ...

Plan under which an employee authorizes his or her employer to deduct from each paycheck premiums due on an insurance plan. ...

Frequency of premium payment; for example annually, semiannually, quarterly, or monthly. ...

Popular Insurance Questions