What is TLL? I see it on insurance papers and I don't know what it means? TLL is an acronym for tenants legal liability.

You will see this term on a tenant's policy or a business insurance policy. This is for when you have damaged the property of your landlord. It isn't just the building but also any permanent fixtures of that building.

TLL gives your landlord the needed underlying insurance protection so your policy pays out before his/hers is attacked. It also gives you the means to pay a potential financially devastating debt. This is a large part of how insurance helps people. It is there for the things we cannot completely control which could ruin us financially if we did not have insurance to help cover the costs.

Like all insurance coverages not every company has exactly the same wordings or limits. The usual coverage will include at least:

  • Fire
  • Explosion
  • Smoke
  • Leakage from fire equipment

So when you rent a home or a building you will need to have enough money to pay for restoring or replacing that structure. It is important that you be aware that not all companies offer the same automatic amount. So you need to inquire about what claims will be paid and to how much of total.

Be in control of your insurance. When something goes wrong then you will not be caught unprepared. Talk to your agent or broker. If you need help then ask questions and keep asking until you are comfortable with the answer.