31 May Risk Focus – Lessor’s Risk.
Quite simply lessors risk are buildings leased or rented to others for commercial occupancy. The insured would be the owner of a building that is being rented or leased to another entity or entities.
These buildings can be single or multiple occupancy/use including habitation, retail, service and office occupants. Some light manufacturing and small distributors may also fall into this grouping.
The building itself may or may not be owned by an entity occupying a space within the building.
One of keys to getting an accurate price is to understand the occupancies. LRO risks with bars or restaurants will command higher premiums than office occupancies.
It is also important to make sure that all tenants carry liability insurance and name the owner as an additional insured.
We have numerous markets that are very competitive on Lessor’s Risk accounts. In addition to property and liability coverage we can provide optional coverages such as assault & battery, hired and non-owned Auto, and equipment breakdown.
Need Lessor’s Risk for your clients? We’ve got you covered! #GoToLane