Do you think you pay too much for tenant occupied property insurance?
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Answer:
Generally, no as a triple-net release requires that the tenant obtain and maintain insurance coverage on the building naming you as the landlord as Additional Insured and Loss Payee. However, there is still the chance that you could be sued for something that you are solely responsible for on the property. You should also make sure that the coverage obtained by the tenant has adequate liability coverage in it to cover your liability exposure. In many cases, an umbrella policy would be good to obtain for additional liability coverage. Contact us for more information on how to address the unique coverage needs related to this arrangement.
For more information and to find out if your tenant occupied property qualifies for the insurance policies we have found please contact us at insurance@drickardinsurance.com or 607-843-8860.
Click Here to send us basic information for an insurance premium indication.
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