What is Commercial Landlord Insurance?
As a commercial building landlord, you have to look after tenants and take care of your property while also protecting yourself from business risks. Commercial Landlord policies, also known as Lessors Risk Insurance, are for building owners who lease out space to tenants. It provides liability coverage for accidents that might occur on your property and can also be customized to include commercial property coverage for the building and outdoor fixtures.
What does Commercial Landlord Insurance cover in Texas?
General Liability: Provides coverage for when a tenant or a client of a tenant sustains injury or their property is damaged while at your business premises.
Commercial Property: Provides coverage for the building and outdoor fixtures from risks such as fire, natural disaster( e.g. Hurricanes, tornadoes and hail) and vandalism.
Business Income: Additional coverage that can be added to protect the loss of rental income if building becomes uninhabitable due to a covered loss.
Consider these possibilities
- Visitor slips/trips on the floor and is seriously injured. (Lessors Risk Insurance can help pay for legal expenses and medical bills)
- Visitor’s vehicle gets damaged while at your property. (e.g. A tree or outdoor fixture such as a canopy falls on visitor’s car)
- Fire of hail damage to building which results in temporary halt in business while building is repaired.
To determine the appropriate insurance coverage you need, a variety of factors are considered, such as the square footage of the building and the types of business operations at the location.
Contact us now for a quote and consultation.