Help protect your investment with the right insurance coverage options
Commercial property ownership requires a rather sizable commitment of resources, and like any business asset, there are significant risks that can threaten your investment. Financial protection for any commercial space, whether you’re leasing offices, warehouse or retail space, or a mixed-use building, is vital for safeguarding your assets against possible perils such as fire, theft, property damage from tenants, or liability claims made against you or your business.
Commercial landlord insurance offers that protection to safeguard your property, your financial future, and your reputation so you can spend your time on building your business without distractions.
Trust Performance Insurance to customize specialized insurance coverage solutions for your particular property portfolio and mitigate the daily risks and unexpected pitfalls that can damage your financial well-being.
Understanding Commercial Landlord Insurance
Commercial property landlord insurance is specifically designed to protect you and your property
If your business is renting out commercial premises to other businesses, you need commercial landlord insurance because it protects property owners like you from covered perils including fire, flood, storm damage, vandalism, up to your policy limits.
Most commercial property insurance will cover losses to the structure of the building, your contents within the building as long as you are the landlord, and potential lost rental income as a result of the incident.
Your policy may also include liability coverage that protects you from paying legal bills out of your own pocket in the event that someone gets injured or his or her property gets damaged while that individual is on your rental property.
Landlord Insurance vs Rental Property Owners Insurance Policy: What’s the Difference?
Landlord insurance covers the rental property, any related structures, and the owner’s liability including a loss of rental income while renters insurance is designed to cover the tenant’s personal belongings and liability. In fact, liability and loss of use of the property can be components of both policies to cover loss should the property be restricted from use, but the big difference is they cover different parties in the incident.
Important Coverage Options and Additional Coverage for Commercial Property Insurance
A dependable landlord insurance policy is not a one-size-fits-all arrangement. The property coverage that’s right for you may not be anywhere near sufficient for another client. That’s why our policies are flexible and fully customizable to fit you and the particular needs of your rental property.
The most common rental property insurance coverages include:
Property Insurance Coverage
This policy covers the expenses associated with repairing or rebuilding your property in the event of damage caused by covered perils up to the limits of your policy, including fire, flood, storm, vandalism, and other perils. Coverage protects the permanent fixtures including the walls, floors, and roof of your rental property.
Landlord’s Personal Belongings Coverage
Any personal belongings that are property of the landlord contained within the rental property are covered in the event of damage or loss.
Business Interruption Coverage
In the event your rental property is unable to be occupied due to damage caused by an insured peril, this policy will help to replace the income that has been lost as a result and helps keep your rental business in the black as cash flow continues unabated while the property is repaired or rebuilt.
Property Owners Liability Coverage
This coverage protects you in the event a tenant, guest, or another visitor sustains an injury or damage to his or her personal property while on your rental property and decides to hold you legally responsible for the incident.
Employer’s Liability Coverage
This policy covers you should any of your employees sustain a work-related injury or illness and decides to hold you or your rental business legally responsible for that injury or illness.
Additional Business Insurance Coverages
Some landlord insurance policies are insufficient to fully cover your property against the most common threats which is why additional policies may be necessary to address appropriate covered loss. Our landlord insurance experts are ready to work with you to customize the policy that is right for you!
Property Insurance Coverage
This policy covers the expenses associated with repairing or rebuilding your property in the event of damage caused by covered perils up to the limits of your policy, including fire, flood, storm, vandalism, and other perils. Coverage protects the permanent fixtures including the walls, floors, and roof of your rental property.
Landlord’s Personal Belongings Coverage
Any personal belongings that are property of the landlord contained within the rental property are covered in the event of damage or loss.
Business Interruption Coverage
In the event your rental property is unable to be occupied due to damage caused by an insured peril, this policy will help to replace the income that has been lost as a result and helps keep your rental business in the black as cash flow continues unabated while the property is repaired or rebuilt.
Property Owners Liability Coverage
This coverage protects you in the event a tenant, guest, or another visitor sustains an injury or damage to his or her personal property while on your rental property and decides to hold you legally responsible for the incident.
Employer’s Liability Coverage
This policy covers you should any of your employees sustain a work-related injury or illness and decides to hold you or your rental business legally responsible for that injury or illness.
Additional Business Insurance Coverages
Some landlord insurance policies are insufficient to fully cover your property against the most common threats which is why additional policies may be necessary to address appropriate covered loss. Our landlord insurance experts are ready to work with you to customize the policy that is right for you!
Your tenants may have their own business insurance, but that doesn’t help to protect your property or your rental income. The right landlord insurance coverage ensures that you aren’t left to cover the high costs of repairs or liability claims out of your own pocket.
Call Performance Insurance for Your Quote Today
Protect what matters most in an uncertain world. We understand the challenges and the risks that come with owning and managing commercial property and our insurance experts work with you to analyze risks and create a landlord insurance policy that works for you and your property at a price you can afford.
Reach out today and let’s talk about how we can safeguard your rental property.
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