Posted By: Buddyhog
Liability Insurance - 04/08/2021 11:25 PM
Planning on buying condo and putting on the rental market. Do I need to purchase liability insurance in case renter is hurt and sues me? Thanks
Posted By: Carol_Hill
Re: Liability Insurance - 04/08/2021 11:38 PM
This is a topic that you should consult a lawyer where you are purchasing the condo, either Dutch or French.
Posted By: Southbound
Re: Liability Insurance - 04/08/2021 11:47 PM
The type of policy you should be looking for is what is commonly known as an HO6 Condominium Unit Owners policy. In addition to liability coverage, it should include personal property coverage for contents of the unit, loss of use/rents, coverage for those parts of the building that are not the responsibility of the condo association(may include items like floor coverings, light and plumbing fixtures, wall coverings, etc.) and loss assessment coverage to cover your share of the association's deductible in the event of a large loss like fire or windstorm. Read the condo association documents carefully to know what you are responsible for!
Posted By: Buddyhog
Re: Liability Insurance - 04/09/2021 12:46 PM
Buying on the Dutch side. Any recommendations for lawyer and insurance agent? Thanks