If you own a commercial building and lease out most of it (typically 75% or greater) to tenants for retail, office, personal or warehouse space, a lessor risk insurance policy is highly recommended. Heuer Insurance Agency can help you find the right Lessor Risk Insurance Policy for your Nevada commercial property.
What is Lessor Risk Insurance?
Lessor Risk Insurance protect you from liability if a tenant injures themselves, or causes property damage while on your facility’s property. This comes in handy if you’re sued by a tenant or one of their customers.
What does Lessor Risk Insurance cover?
A Lessor Risk Insurance policy can protect you from being financially responsible for any of your tenants property loss (including theft and vandalism) while their property is stored on the premises. This coverage will also protect you from a lawsuit that arises from personal injury of an employee, the lessor themselves or any of their customers while on the property.
How much do I need?
While most businesses won’t need more than $1 million in coverage, all businesses should speak to a qualified insurance agent to determine how much coverage should be purchased. Limits can exceed $5 million.
If you own multiple properties, even ones that are adjacent to one-another, you will likely need several insurance policies to cover each building. Talk to an agent at Heuer Insurance Agency in Reno to determine the amount of coverage you need and how many policies you should carry.
Heuer Insurance Agency in Sparks has worked with a variety of clients in the Reno area over the years and we are confident in our ability to meet your personal or business insurance needs. We understand how important an insurance policy can be and we take time to match each of our clients with the perfect insurance policy. Whether you are looking for auto insurance, renters insurance, homeowners insurance, or life insurance we can help you. Not only can we provide you with each of these personal insurance policies, but we can also help you find a general liability policy, workers compensation policy or commercial building insurance policy. Give us a call at 775-358-5554 or visit us.