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Do you think you pay too much for tenant occupied property insurance?

Frequently Asked Questions

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Should I require that my tenants have their own insurance?

Answer:

Yes. Here are a few reasons.

1. Protect your assets from your tenant's activities. We strongly suggest that every commercial tenant be required by written agreement, such as the lease, to have liability insurance naming the landlord, by name, as additional insured. Usually this will not cost the tenant anything more in their policy but will now extend liability benefits and defense cost coverage to the landlord.

2. You can require rented premises coverage incase the tenant burns your building or causes other damage.

3. Saving money is always good when you also have great value provide with the savings. It is possible to get savings even on landlord policies by requiring by contract that the tenant gets renters insurance. Verify that they do get it and keep it in force by requiring they provide you a copy of the declaration pages. When you do this your insurer may provide you an additional discount off of your already great rate landlord insurance policy.

For more information and to find out if your tenant occupied property qualifies for the insurance policies we have found please contact us insurance@drickardinsurance.com or 607-843-8860.

Click Here to send us basic information for an insurance premium indication.

Did you find the answer to the question that you were looking for? You can check our other Frequently Asked Questions Here. Or if your question is not here, please contact us at insurance@drickardinsurance.com or 607-843-8860, or you can ask our agents on live chat that can be found on the left of the screen.

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