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.
