The policy protects the lessor from liability for any loss or damage to the property or any harm caused to third parties, including tenants.
This insurance policy covers losses produced by perils such as fires or storms, and also by third-party liability claims.
Keep in mind that lenders typically require this type of insurance as a requisite for any loan involving commercial real estate.
With lessors risk insurance, owners of commercial properties can rent out their spaces to tenants without worrying about extensive damage or litigation.
To get protection or to learn more about this type of coverage, contact our agents at Uniserv Insurance Services today.
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