Millions of companies across the country operate out of rented or leased commercial space, but business owners are usually required to meet specific requirements before property landlords let them move in and use the space. These contractual obligations protect the property owner, but also the business itself if disaster strikes the property.
In today's Aegis blog post, learn about the three types of business insurance policies your commercial landlord may require before agreeing to lease or rent space, and how Aegis Insurance & Financial Services can help you secure those policies.
Commercial Property Insurance
One of the most important commercial insurance policies for your business is Commercial Property Insurance, which protects the value of your physical property and assets from covered losses such as fire or theft. Without this coverage, your company could face substantial out-of-pocket costs for repairing or replacing everything that's been damaged or stolen.
Commercial landlords will often require your company to have this type of coverage as a condition of your rental or lease agreement to ensure your business has a way to recoup those losses. This coverage can help your business have a faster recovery and minimize revenue losses.
General Liability Coverage
Accidents and injuries can happen at any time, and when they happen on your business property or inside your storefront location, your company may be held liable. General Liability coverage protects your business by covering any medical expenses, property damage, or bodily injury your business causes to a customer, vendor, or neighboring tenant.
A single lawsuit can cost your company time, money, and resources, but General Liability coverage shields your business from paying court costs, damages, attorney fees, and medical expenses related to damages or injuries on your property. Having General Liability coverage protects your business as well as your commercial landlord from potential liability claims and out-of-pocket costs.
Commercial Auto Insurance
Finally, if your business relies on commercial trucks or delivery vehicles for daily operations, your commercial property landlord may insist that you carry Commercial Auto coverage for your company vehicles or employee vehicles used for deliveries. This ensures there are financial resources to cover any accidents or injuries caused by the vehicles your company uses on a daily basis.
Aegis Insurance Offers Top Protection for Your Business
Aegis Insurance & Financial Services is a proud provider of top-quality Commercial Insurance policies for business of all sizes, across a wide variety of industries. Whether you own a restaurant, retail store, auto repair shop, accounting office, or anything in between, our team of Commercial Insurance agents can create a Commercial Insurance portfolio that meets your unique insurance needs, all at competitive rates.
For more information about Commercial Property, General Liability, or Commercial Auto coverage, contact Aegis today at 713-850-7622 to request more information, or fill out our online form to request a free quote.