insuranceOwners Landlords and Tenants Liability (OLT)

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Owners Landlords and Tenants Liability

Liability insurance for designated premises is not just for large or complex businesses. At the same time, most homeowner insurance, business and auto insurance may have liability insurance coverage. If someone is involved in acquiring a new building or renting a new location, there may be a gap in liability coverage. 

When someone visits premises as above, liability insurance on the location will protect the owner, landlord or tenant (Otherwise known as OLT Insurance).

An incident such as skid and fall on an icy walkway or failing to clear a spill from an aisle often create a premises liability exposure for which liability insurance protection is crucial.

What does Owner, Landlord, and Tenant Liability cover?

• Property damage

• Bodily injury

• Personal and advertising injury

• Medical payments

• Tenant legal liability

Who does it cover?

Owners, landlords and tenants with premises that may be visited by the public need liability coverage. Property such as vacant, rooming and boarding houses, student rentals or other non standard property. 

The major differences between the owner landlord and tenant liability policy and commercial general liability insurance are the location. OL&T insurance policies only covers the designated premises of operation. 

Commercial General Liability (CGL) policy, on the other hand, will have extensive coverage for the entire operation and often will include additional premises, products, operations, etc.

What is included in standard OLT Insurance

• 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

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