Abram Interstate Insurance Services, Inc., CMGA

Helping Independent Insurance Agents Since 1996

How Lessor’s Risk Insurance Covers Commercial Property Owners | Wholesale LRO Insurance Product Highlight

Published on December 18, 2017

Wholesale lessor's risk Insurance LRO Abram Interstate CA

It’s no secret that owning property in California is more expensive than most other states or areas. Owning commercial real estate is both a great feat, and a great investment. It’s a growing market to get into and your customers with commercial property are on a profitable road, to be sure.

According to Statista, The Statistics Portal,

The commercial construction industry in the United States has been steadily expanding since 2010. In 2016, some 74.24 billion U.S. dollars worth of commercial buildings were put in place in the United States…

Commercial rents are on the rise in all sectors. Average retail rent was projected to rise 0.9 percent by the end of the year. Rental rates in the office real estate sector was set to increase by one percent in the fourth quarter…

Vacancy rates both in retail and industrial real estate sector show a declining trend and were projected to amount to 11% and 6.3% respectively as of third quarter of 2018.

But once your clients have arrived in that lucrative position of owning commercial property that they want to lease out to others, they open themselves up to a higher amount of liability along with that profit they’ll earn.

With renting out commercial real estate, your customers have more to gain, but also more ways they could lose. This is why your clients need Lessor’s Risk Insurance (LRO Insurance).

What is Lessor’s Risk insurance and why is it important?

Lessor’s Risk insurance policies are designed to protect your customers and their investment from people who sustain injuries or damages by use of or interaction with their commercial property. Depending on their particular LRO policy, it may also cover other situations like:

  • Litigation expenses from lawsuits and processes
  • Repair or replacement of building owner’s belongings such as hallway furnishings
  • Business Income and extra expense coverage

It’s clear that the expenses could add up quickly, even after just one incident.

Make sure your customers are insured for such occasions with our wholesale Lessor’s Risk Insurance offerings.


Lessor’s Risk Insurance Product Highlights:

 
  • Property & General Liability
  • Earthquake/DIC
  • Most tenant occupancies are eligible
Optional Coverages
  • Business income and extra expense
  • Building owners endorsement
  • Lobby and hallway furnishings owned by the insured
  • Equipment used to maintain the property
  • Building ordinance and law
  • Chat with us online HERE now for any quick questions you may have!

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Abram Interstate Insurance Services, Inc. is a California wholesale insurance broker (CMGA) that has licensing and expertise to place business in both admitted and non-admitted markets for Personal Lines Insurance, Commercial Lines Insurance, and Agribusiness Insurance in California and surrounding areas.

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