Renters insurance is required by many businesses that rent commercial space.
They can be as small as a neighborhood coffee shop or as big as a national manufacturing company.
Because landlords require it, businesses that rent commercial property will typically require insurance coverage. According to Deuster, the landlord will decide which types of insurance are required, with general liability and fire legal liability typically being the minimum requirements.
Renters insurance can help a business protect itself from a variety of losses, even if it is not required by the landlord.
Coverage for general liability: Covers claims in regards to substantial injury or harms that were consequences of carelessness that occured on your premises.
For instance, it would cover losses incurred as a result of a lawsuit brought by someone who fell on your icy sidewalk.
Insurance for commercial property: safeguards the rented building, tools, furniture, and equipment. It would, for instance, cover property damage caused by fire or theft.
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nsurance for business income: compensates for business income that has been lost due to property damage. It would, for instance, cover income loss as a result of a fire or theft.
