what happens when someone gets injured at a rental, and they carry no insurance, but have other homes and businesses that are insured
2006-11-17 02:08:56 · 10 answers · asked by como2u2 1 in Business & Finance ➔ Insurance
If you have no rental insurance then you just take the lose.
2006-11-17 02:16:34 · answer #1 · answered by egg_sammash 5 · 0⤊ 0⤋
OK, someone gets hurt at a property THEY rent, or a property that someone ELSE rents from a third party? Which person is carrying no insurance?
The injured party can sue the person that has CUSTODY of the premises , ie, the renter, or the OWNER of the premises, for the damages.
Depending on how the injury occurred, someone else might be found to be "negligent" or to blame for the injury. If so, you get a judgement against them.
If they have liability insurance that covers the judgement, the insurance company will pay the injured party. If they don't, it's up to the injured party to place a lein on their property, or bank account, or wages, to try to collect the money. Sometimes it can be quite difficult to collect, even if you get the judgement.
2006-11-17 10:43:14 · answer #2 · answered by Anonymous 7 · 0⤊ 0⤋
I doubt that the other properties' insurance policies cover personal injury at other sites. Look at those policies under the "exclusions" area and you'll probably find language to that sort. Otherwise, the injured person has the right to take you to small claims court or civil court, depending on the amount or restitution they're seeking. In either court, the burdon of proof is their responsibility. The have to prove that their injuries are a direct result of your negligence. This also depends on whether the injuries incurred inside the property (were they invited?).
Take pictures. Interview and obtain signed statements from wittnesses, if any.
If you are certain it's your fault because of your negligence and not theirs, contact the party and try to negotiate some type of settlement. Or, you can just wait and see what the other party is going to do. Until then, gather all the information possible to substantiate your defense.
Good luck to you.
2006-11-17 11:04:13 · answer #3 · answered by JayJay 3 · 0⤊ 0⤋
If the house has a mortgage, insurance is required as the lender has to be notified when the house is rented out and they require insurance. Even if there is no lender (the house is owned clear), the house still has to have insurance and liability is pretty standard in any insurance policy. If they have other homes and businesses, more likely they will have blanket coverage which covers liabilities for all and every properties they own up to so much amount. Go ahead and contact the owner on the phone and in writing.
2006-11-17 10:23:37 · answer #4 · answered by spot 5 · 0⤊ 0⤋
They can be sued and possibly lose one or more of the properties unless they agree to pay what the lawsuit is after.
Of course it better be a damn good excuse / injury to be suing for in the first place. The courts can see if a person suing, is on the up and up, and they better not have anything to hide for it will come out as dirty laundry !!
Any one renting should have renters insurance for alot of the time it says right in the lease that the landlord IS NOT responsible for YOUR injuries NOT caused by the landlord him/herself.
Better do your homework for you have a bumpy & quite possibly a costly ride ahead, the landlord can then countersue after you are done and it starts all over again and you end up paying big time !
2006-11-17 16:13:49 · answer #5 · answered by Kitty 6 · 0⤊ 0⤋
The renter can be sued. As well as the owner of the rental.
It's real cheap to have renters ins.
Owning other property doesn't matter.
But your Other ins. policy may be able to pay for any lawsuits...it's best to have an attorney look at the policies.
It's better to pay an atty a couple hundred bucks than second guess and argue with the ins. company.
2006-11-17 10:18:08 · answer #6 · answered by Anonymous · 0⤊ 0⤋
They get sued, and have to liquidate their other homes to pay the person who got hurt.
Buy insurance on your rental home NOW.
2006-11-17 10:15:17 · answer #7 · answered by wuxxler 5 · 0⤊ 0⤋
Sue them and take the rental property in settlement.
2006-11-17 12:16:31 · answer #8 · answered by waggy_33 6 · 0⤊ 0⤋
if someone is injured on your rented property and sue you, they are suing YOU, not your property. they can presumably make a claim against your entire net worth, which will include all of your properties.
2006-11-17 13:01:09 · answer #9 · answered by Ovrtaxed 4 · 0⤊ 0⤋
They are sued and screwed.
2006-11-17 10:16:45 · answer #10 · answered by bor_rabnud 6 · 0⤊ 0⤋