Condo insurance in Dallas, TX, can cover a variety of situations, from personal property damage to your portion of paying for a new roof. As a condo owner, you may also face liability lawsuits for injuries, such as someone slipping on your sidewalk or a dog bite. Understanding how your policy works is essential.
Liability Lawsuits
Liability lawsuits involving injuries are typically covered by condo insurance. These lawsuits often arise from incidents like someone falling or getting injured on your property. Your insurance can help cover medical bills or a judgment against you.
Exceptions to Coverage
There are exceptions to liability coverage. Many insurance companies, including Presley Insurance Group, list specific exclusions in their policies. For example, some policies may not cover injuries caused by pets, such as dog bites. Additionally, injuries deemed to be your fault, like someone slipping on an icy sidewalk you didn’t salt, may not be covered. It’s important to speak with an agent to understand your policy’s exclusions fully.
Location of the Injury
The location of the injury plays a significant role in determining who is responsible for coverage. If the injury occurs on your property, it’s typically covered by your insurance. However, injuries that happen in shared areas, such as a playground, are usually covered by the master policy. These shared spaces are not your responsibility.
Coverage Limits
While condo insurance can assist with injury lawsuits, it’s important to note that coverage is limited to the policy’s maximum payout. If the costs exceed your coverage limit, you’ll be responsible for paying the remaining amount out of pocket.
An agent at Presley Insurance Group can help you learn more about how injury lawsuits and condo insurance policies work. Contact us today! We’re currently serving the Dallas, TX, area.
