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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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