Business Insurance for a Rented Premises Whether you are have an established business or are renting space for the first time, you likely need Business Insurance. However, there are many different options and policies to consider when purchasing Business Insurance. It is important to understand what these coverages are and how they relate to your business.

Business Insurance for a Rented Premises – Understanding Landlord Requirements

When you are renting a premises for your business, it is crucial to check with your landlord before purchasing Business Insurance. Most landlords have certain Business Insurance requirements that need to be fulfilled prior to moving into your new space. If you do not check with your landlord ahead of time, you may possibly purchase a Business Insurance policy that does not meet your landlord’s requirements. In situations like this, you may end up having to cancel your policy and purchase a different policy, which will cost you much more in the long run.

Business Insurance for a Rented Premises- General Liability

One of the most common landlord requirements is General Liability. General Liability is a policy designed to protect you against bodily injury and property damage claims that can arise from your business operations. General Liability can include many optional endorsements, including coverage for business personal property, hired and non-owned auto liability, loss of business income, and more! Most General Liability policies also include a sub-limit for damage to a premises rented to you. In addition, many landlords require an endorsement called an additional insured. Adding your landlord as an additional insured provides some coverage to your landlord from the General Liability policy. Sometimes, but not always, adding this endorsement costs additional premium, which is why it is best to know your landlord requirements prior to purchasing your policy.

Business Insurance for a Rented Premises – Workers Comp

Although it is less common, some landlords require Workers Comp to be in place prior to you moving in. Workers Comp is a coverage that protects you if your employee(s) get injured while on the job. If you do not have any employees, purchasing Workers Comp is optional. There are some situations where a landlord will still require the Workers Comp even if there are no employees, however, in many cases you can have a discussion with the landlord and get this requirement waived.

Are you moving into a new property and need assistance with your landlord requirements? Give us a call! We are happy to assist you in obtaining the right coverage for the right price. You can reach our small business specialist at 925-297-4829.

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All information is general in nature and is intended to provide guidance only. It is up to you to request specific coverage options, the agency and agent do not bear this responsibility. Always read the policy if there is a questions about coverage or a claim. If any information herein should conflict with your actual policy’s specific language, the policy language will be controlling.