Question: Is it legal to own a commercial property (apt. comp.) without any kind of insurance? What if any is required? What does it cover? If I am the owner of an apt. complex, what is my legal obligation for insurance on said property? Am I responsible for a "vicious dog" attack on one tenant because of another tenant? And what if I don"t have any insurance?
Answer: Barring some contract saying otherwise, you are probably not required to have insurance on your commercial Phoenix real estate. Of course, not having it means that you would be liable for covered damages yourself, instead of being able to submit a claim to an insurance company. Whether you have liability for a "vicious dog" attack depends on whether you reasonably should have done something to prevent it. The facts of the case will be particularly important on this type of a claim. If this has happened in your complex and you are concerned about possibly being sued, you will probably want to consult with an Arizona litigation attorney quickly to discuss ways to minimize your exposure. Some early work can prevent a lot of problems down the road.
Speaking to an insurance broker or a Phoenix Business Lawyer can help you find out the specific laws for your location and situation.
Answer: Barring some contract saying otherwise, you are probably not required to have insurance on your commercial Phoenix real estate. Of course, not having it means that you would be liable for covered damages yourself, instead of being able to submit a claim to an insurance company. Whether you have liability for a "vicious dog" attack depends on whether you reasonably should have done something to prevent it. The facts of the case will be particularly important on this type of a claim. If this has happened in your complex and you are concerned about possibly being sued, you will probably want to consult with an Arizona litigation attorney quickly to discuss ways to minimize your exposure. Some early work can prevent a lot of problems down the road.
Speaking to an insurance broker or a Phoenix Business Lawyer can help you find out the specific laws for your location and situation.
Written By Brad Denton
Gunderson, Denton & Peterson, P.C.
Mesa Office:
1930 N. Arboleda, Suite 201
Mesa, Arizona 85213
Office: 480-655-7440
Fax: 480-655-7099
Email: [email protected]
Website: http://gundersondenton.com
Phoenix Office:
40 N. Central Avenue, Suite 1400
Phoenix, AZ 85004
Phone: 480-325-9937
Website: http://gundersondenton.com/phoenix
Gunderson, Denton & Peterson, P.C.
Mesa Office:
1930 N. Arboleda, Suite 201
Mesa, Arizona 85213
Office: 480-655-7440
Fax: 480-655-7099
Email: [email protected]
Website: http://gundersondenton.com
Phoenix Office:
40 N. Central Avenue, Suite 1400
Phoenix, AZ 85004
Phone: 480-325-9937
Website: http://gundersondenton.com/phoenix