Water Damage Legal Liability Insurance
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Definition of 'Water Damage Legal Liability Insurance'
A policy that provides financial protection to a person or business that unintentionally causes water damage to the property of another. Water damage legal liability insurance is not included in all policies, so the insured should read his or her insurance contract carefully to determine if this coverage is included.
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Investopedia explains 'Water Damage Legal Liability Insurance'
For example, if the owner of a second-floor condo unit experienced a water heater explosion and the water leaked into any units on the first floor, water damage legal liability insurance would protect the owners of the second-floor condo by providing the money to repair the damage to the first-floor units. This kind of insurance can also benefit renters, as renters don't own the property they occupy, they can be held liable for water damage to their own unit as well as neighbors’ units.
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Search results for 'Water Damage Legal Liability Insurance'
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http://www.investopedia.com/university/insurance/insurance3.asp
... or car and/or against legal liability that may ... to protect against personal property
losses and liability. ... Water Damage: This includes flood, water backing up ...
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http://www.investopedia.com/articles/insurance/09/property-insurance.asp
... covers them in the event of a water line break. ... to actually be worth at the time
of the damage. ... thought was adequate coverage, was barely the legal minimum in ...
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http://www.investopedia.com/university/renters-guide/renters-guide7.asp
... cracking or breaking of steam or hot water heating systems ... rider might be needed
to cover wind damage in areas ... any court judgments as well as legal expenses, up ...
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http://www.investopedia.com/articles/financialcareers/08/company-lawsuits.asp
... Situations such as these can damage your integrity as a business owner and could
land you in legal hot water. ... and thus open yourself up to legal action) then ...
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