It has never happened but what if it did. I have liability insurance how much do i need. Does my lease need a release from responsibility. Like for instance an exhusband breaking in etc.
Or am I protected because tenants are there because they want to be.
I think this says it the best:
"The general rule is that the building owner is responsible for the damages to the property as consequence of a break in. ... The landlord will file a claim to his insurance for the damage to real property. Typically the tenant cannot hold the landlord responsible for anything other than negligence."
Important things to do to minimize claims of negligence:
1. Inspect your property. Make sure it's in good working order; smoke detectors have batteries, doors have working locks, fire extinguishers in place. Document the inspections.
2. Add "Renter's Insurance with Landlord as Additional Insured" as a lease requirement. Obtain proof of insurance. This coverage protects you and your property from a whole host of problems including a tenant's pet biting a guest and more. It's inexpensive for the tenant and a great benefit to both of you.
3. Include in your lease - and tell your tenants - to call the Police directly whenever there is an incident. Protect themselves first - and then let you know what has happened after doing so.
As for how much coverage, discuss that with your insurance broker and look at other ways to protect yourself such as by titling the property is an LLC or Family Trust.
And, great question/issue you posed. Most of us learn this after something has happened...better to know before.
thanks, i am encountering good tenants but multiple children with different fathers etc. trying to avoid angry folks from trying to use violence to solve an argument
@Jane S. You worry too much Jane .. besides a little bleach will clean up blood
well i did have a good reason to ask this question. bleach is good for all sorts of cleaning.