Landlords Need Adequate Liability Insurance

The October 31, 2005 edition of the New Jersey Lawyer reports that a jury in New Jersey recently awarded $3.5 million to the relatives of a five year old girl who was killed in a fire at their rented home. In that case, the landlord was held to have been negligent for failing to install an adequate alarm system. Warning to all landlords (even in a simple two family home): in addition to making sure that your building is SAFE for your tenants, make sure that you have adequate liability insurance to protect you if a tragedy occurs.

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