As a commercial landlord, you know how important it is to look out for your property and the wellbeing of your tenants and lessees. But it's just as important to look out for yourself when you're a business owner. From third-party injuries and property damage to contract disputes, the issues you might have to deal with can be daunting and financially devastating if you're not prepared.
That's where business insurance can help.
Small business insurance helps protect landlords and their assets. The appropriate coverage can address the cost of legal battles, property damage, third-party injuries, and more, giving you a financial backup plan if something goes wrong.
For example, consider Lessor's Risk Insurance, a must-have policy if you lease to commercial tenants. This coverage can help out when a tenant or a tenant's customer comes after you for damages over bodily injuries or property damage that happen on your premises. Sometimes it's not always clear when an accident is your fault or the lessee's fault, but Lessor's Risk Insurance can cover the claim and legal costs if you are blamed for the ordeal.
And think about your building itself. Your building is more than just an asset — it's your business. Commercial Property Insurance can provide coverage when fires, wind, or vandalism damage your building. You may even be able to secure coverage for other hazards, such as burst pipes, backed up sewers, and earthquakes, so ask your agent about these risks.
Whether a fire gutted your building or an angry tenant sues you over a misunderstanding, you can look to your insurance policies for financial assistance if the claim is covered. At Insureon, our licensed agents can connect you with coverage from top-rated providers and help you find the policies that fit your needs. Based on our experience, we typically recommend landlords consider carrying…