In case of group verification, does each tenant need to purchase a separate liability policy?
Tenant liability insurance also covers damage caused unintentionally by household members to third parties. According to the insurance definition, a household member is a person close to the insured who resides in the same household. However, it is recommended that each tenant has their policy.
The incurred damage is assigned to an insured person on the policy. Therefore, in the future, the premium may be increased if the damage is significant. Tenant liability insurance also covers accidental damage caused to third parties by pets, but only those owned by the insured person, not other household members.
For a better understanding, here are some examples:
- Husband’s policy covers a situation where the wife damaged the heating plate. The damage report contains information about the perpetrator, in this case, the wife, who is responsible.
- A group of tenants with individual policies - in the event of damage, settlement is made from the policy of the responsible person. Each tenant is responsible for their damages, and the settlement process is individual, according to each policy.
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