Liability insurance for designated premises is not just for large or complex businesses. At the same time, most homeowners, businesses and auto insurance may have liability insurance coverage if someone is acquiring a new building or renting a new location. However, there may be a gap in liability on the new premises.
Important!
OLT insurance is mainly for commercial use. If you are a Residential tenant trying to get insurance for your landlord, you need rental/tenant insurance. Please click here for an online quote.
About OL & T Liability Insurance
When someone visits premises as above, the OLT insurance, specifically on the location, will protect the owner, landlord or tenant (Otherwise known as OLT Insurance).
Any incident such as skid and fall on an icy walkway or failing to clear a spill from an aisle often creates a premises liability exposure for which such insurance protection is crucial.
What does OLT cover?
• Property damage of others
• Bodily injury
• Personal and advertising injury
• Medical payments
• Tenant legal liability
Who does OLT cover?
Any Owners, landlords and tenants with premises that the public may visit or have direct access to need some form of insurance.
The following Properties such as:
- Vacant,
- Rooming and boarding houses,
- Student rentals, or
- Other non-standard properties.
The major differences between the owner landlord and tenant liability policy and commercial general liability insurance are the location. OL&T insurance policies only cover the designated premises of operation. On the other hand, Commercial General Liability (CGL) policy will have extensive coverage for the entire operation and often will include additional premises, products, operations, etc..
A standard OLT Insurance will include
- Tenants legal liability
- Personal injury
- Advertising injury liability
- Employees and volunteers
- Medical payments coverage includes travel and babysitting expenses
- First aid on-premises, included under medical payments
- loss of income due to time off work
- Reimbursement for defence costs and expenses, if the insurer is unable to defend the insured restricted by law
- "Who is an Insured" section is adapted to reflect specific coverage for the ownership, maintenance or occupancy of the insured premises or the grounds and structures belonging (appurtenant) to those insured premises
- Access to or disclosure of confidential or personal information (Privacy Breach) exclusion Certain conditions, limitations and exclusions
Owners Landlords and Tenants Liability covers gap. Its for certain designated premises and not just for large or complex businesses. It preventing you from being sue. Call and discuss with us why you need it