Abram Interstate Insurance Services, Inc., CMGA

Helping Independent Insurance Agents Since 1996

Learn About Lessor’s Risk | Product Highlight

Published on January 23, 2017

Lessor’s Risk Insurance.

Because Lessor’s Risk is one of those insurance jargon kind of names, here’s a quick video from ehow Money to help you and your potential customers easily understand what Lessor’s Risk Insurance is and what it does.

 

WHO NEEDS IT?

  • Owners of commercial buildings with tenants.

WHAT IS THE COVERAGE?

Package: Property & General Liability

Deductible
$500
$1,000
$2,500
Higher Deductibles Available

Optional Coverages

  • Business income and extra expense
  • Building owners endorsement
  • Lobby and hallway furnishings owned by the insured are included in building coverage
  • Building ordinance and law

UNDERWRITING GUIDELINES

Underwriting Summary

  • All commercial tenants must carry their own General Liability Insurance naming the applicant as additional insured with equal or greater limits.
  • The plumbing, HVAC, wiring and roof need to be updated in the last 30 years.
  • Maximum of 2 apartments.
  • Most tenant occupancies are eligible
  • Buildings must be wholly leased to others, with less than 10% occupancy by owner for rental or building maintenance.
  • All buildings must sustain a minimum occupancy rate of 80%.
  • Read more guidelines HERE or Chat with us online now for a quick question!

WHERE DO YOU QUOTE IT?

Click here to submit a one-page quick-quote application


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.

Quote Online Today.