Landowners Liability Insurance is a type of insurance
that is used to protect someone that owns a plot land in any case where a third
party may injure themselves on the land and then hold the owner of the land
responsible. For example if someone was walking along your land and they
tripped over and broke their leg then they may hold you responsible for paying
out damages to them which is where this type of insurance would come in handy.
You can get this specific insurance for most types of
land such as fields, woodland, undeveloped pasture and even lakes, ponds and
streams. This insurance is especially important if the public has rights of
access on the land as the more people that walk on it means that there will
obviously be a higher risk of someone injuring themselves at some point.
There are three main levels of cover that you can get
with Landowners Liability Insurance starting from the lowest level of one
million pounds and increasing to either two million or five million pounds
limit of liability. This limit is basically the maximum that the insurers will
pay out following any claim, which is why most people tend to get the minimum
of one million pounds cover because it would be quite hard for someone to claim
damages of over one million pounds from you if they injured themselves on your
land.
Most prices start from around one hundred pounds for a
yearly policy but there are various things that can affect the price of the
premium. There are certain questions that most insurers will ask you such as
whether there are any automatic gates or barriers on the land, whether there
are any watercourses or water features on or adjacent to the land and things
such as what the land is used for, how long you've owned it and any previous
uses of the land.
Obviously the lowest premiums would be for the basic
landowner's liability insurance only and should you require any of the add-ons
that you can get then you would be looking at paying a higher premium. There
are various extras that you can have on the policy such as Legal Expenses
Insurance or Employers Liability if you employ anyone to take care of the land.
You can also get Straying of Livestock added on to the policy which would cover
you if you had any animals on the land which then escaped and caused a crash or
something.
For more information you can visit this website that
deals specifically with Landowners Liability Insurance
Article Source:
http://EzineArticles.com/expert/Nathan_De_Bond/375353
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