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?

A: Barring some contract saying otherwise, you are probably not required to have insurance. 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 attorney quickly to discuss ways to minimize your exposure. Some early work can prevent a lot of problems down the road.

* This answer does not constitute legal advice. I am admitted in the State of Arizona only. This advice is based on general principles of law that may or may not relate to your specific situation. Facts and laws change and these possible changes will affect the advice provided here. You should not rely on this advice alone, and nothing in these communications creates an attorney-client relationship.

Published By:

Gunderson, Denton & Peterson, P.C.
1930 N. Arboleda, Suite 201
Mesa, Arizona 85213
Office: 480-655-7440
Fax: 480-655-7099

Answered by Arizona Real Estate Lawyer
Re-posted from AVVO Legal Questions & Answers.

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