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Public Liability Insurance - Mandatory for small community land owner/company?
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Because there is a question.GDB2222 said:Given that you had clearly made your mind up before posting your query, can I ask why you asked the question in the first place?
Bod_1234 said:I don't think it's actually needed, it might be advisable, but not required. Is that correct?0 -
Bod_1234 said:
Because there is a question.GDB2222 said:Given that you had clearly made your mind up before posting your query, can I ask why you asked the question in the first place?
Bod_1234 said:I don't think it's actually needed, it might be advisable, but not required. Is that correct?
Did you really need confirmation that there is no such requirement under law?
No reliance should be placed on the above! Absolutely none, do you hear?0 -
I think it's perhaps worth bearing in mind that if the purchasers require mortgage funding, 'their' solicitor will also be acting for the mortgage lenders and it may be that it's the lender requiring this. Even if not, it is absolutely the job of a solicitor to ensure their client is aware of any and all matters affecting their transaction so it's possible this issue might scupper the sale. Whether you and your neighbours will face the same issue if they come to sell is worth considering, too.
As to insurance risk, I've never (touch wood) been burgled, had a car accident or had a house fire in over 40 years of being a driver and householder. But I can't know what's going to happen in future and having seen the devastation caused to a friend following a total loss house fire, I'm happy to pay for insurance and mine, too, covers public liability. My friend literally got out alive in her pyjamas and even her car was written off. Fortunately she was insured and they took care of everything, including all professional fees. I can tell you, £200 for that level of cover is cheap. The hourly rate of a top flight barrister to represent you in court against a claim, even if you win, would be many times that. I don't think you can afford not to have insurance. If someone suffered a life changing incident on that land (say a branch falls from one of the trees which are, by the way, your responsibility) it could definitely cost you millions.4 -
Not really related, but I wonder what the potential liability claim will come to for this cardboard sign in the wrong place?
https://www.bbc.co.uk/news/world-europe-57668657
No reliance should be placed on the above! Absolutely none, do you hear?0
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