What is Lessor’s Risk Insurance?
Lessor’s Risk Insurance is for owners of leased commercial properties. For example, retail complexes, apartment buildings, and warehouses. Several risks are covered. Included in those risks could be:
- Water damage
- Weather Damage
- Fire and Smoke Damage
- Impacts from automobile damage
- Slip and fall of tenant
Like most policies, exclusions apply. Lessor’s Risk policies cannot fully insure you business. It does not cover damages to a tenant’s own property. Tenant’s will need their own coverage to cover themselves. It is important to discuss the specifics of your leased property with a Broker. You want to make sure you have sufficient coverage to protect your business and investment.