Do you ever think about what happens if someone is injured on your property? Are you to blame and if you are will you have to pay compensation or damages? What happens if you’re the one who is injured? This all comes back to premises liability, and it is worth understanding this concept. The term could be important and may impact your finances at some point in your life.
What Is Premises Liability?
Premises liability is a legal term that is relevant to anyone who owns property. This could be a landlord, a homeowner or a business owner. Business owners are typically the ones that are going to be impacted the most, but even a homeowner could find himself facing an injury claim. Premises liability states that the owner of a property is responsible and legally accountable for any injuries, physical or emotional, that befalls someone on the property.
You might think that the case is different if it’s your home. Let’s say for instance that you invite a friend over to your house. When they enter your property, you are immediately accountable for what happens to them. The term can be different, but it all means the same thing. If they slip, trip or fall and are injured, they can sue you for compensation.
How Does It Impact Me?
Obviously, you could be sued if you own a home and someone is injured. Generally speaking, emotional issues won’t apply, and this is usually restricted to an office environment. Again, you might wonder about renting. Technically, in this case, the landlord owns the property so is the landlord responsible? Read your tenancy contract carefully, and you’ll probably find that blame and accountability is shifted onto you here.
Of course, you might find that you are the one injured. You can be injured in a public property, and in this case, the council is accountable. You can find details here about the steps and action that you can take if you have been injured in a slip trip or fall. Generally speaking though, if it’s not in your home and it was an accident, you will be able to claim compensation from someone.
How Can I Afford The Cost?
For the typical individual, the injury in question will be someone in your home. This could be anyone. A friend, family member or someone that you work with could all be injured and claim compensation from that injury. That’s why you should always treat your home like a business and clean up any spills or tidy up trip hazards before someone else enters your property.
The good news is that a lot of home insurance plans do cover you for legal issues like this. Therefore, if you have a solid insurance plan, you won’t have to pay for the damages out of your own pocket. If you’re unsure whether your insurance covers this type of issue you might want to get in touch with your provider. It’s always better to know for certain before an accident does happen.
We hope this sheds some light on premises liability and the issues that you need to be aware of.