Personal Liability: For claims due to Bodily Injury or Property Damage that you becomeLiable for and which is covered under the policy.

Lawsuit from tenants for personal injury!

For example, if you own the property in your own name, have a contractor do some improper work that causes an injury to the tenant later on--will only the contractor and his company get sued or will you (property owner) automatically get added to the suit, since you own in your own name?

Also just like doctors, some attorneys are generalists doing a little bit of everything, but most have some area of specialty: divorce, personal injury, immigration, labor, taxation, real estate, etc.Real estate attorney - an attorney specializing in real estate.

Account Closed in the state of WI, you are not required to carry a Work Comp policy if your compensation is less than $400 per quarter, but you are liable for any injuries they incur while providing services to you.  

I recommend you have some amount of coverage for catastrophic events and injuries.

Several things hit them at once, they start borrowing more and more money, then more stuff happens and they get caught in an irreversible spiral. 

To add insult to injury, he characterizes real estate management as very low-paying considering the time and risks involved.

I once was told, and I assumed it was probably accurate, that if you are the owner of the lawn mower that you can be held liable for an injury that it might cause.

If it involves applicable tasks, you will an Illness and Injury Prevention Plan (IIPP), and may need training and safety equipment.