Nevada Lessors risk insurance, also called commercial landlord insurance, is a specialized insurance policy provided to owners of office, retail, industrial and other tenant occupied commercial buildings. These policies are designed to cover the exposures faced by a landlord including fire, vandalism and other damage to the buildings and premises liability claims.
Owning a commercial property in Las Vegas can be financial rewarding. Our economy is on the mend and commercial real estate values have been increasing every quarter. This might be the best time in decades to buy commercial real estate and benefit from market appreciation and rental income.
Because real estate is such a large investment, commercial landlords are wise to make sure their property is protected by a well-written lessors risk policy. At Safeguard Insurance, we have worked with numerous property managers and commercial landlords over the last 15 years. We cover hundreds of commercial properties in Las Vegas, North Las Vegas and Henderson Nevada. Whether you own a retail strip mall, an industrial flex building or an office complex, we have the experience and market access to find you the right lessors risk insurance at the right price.
At a minimum, we recommend commercial landlords carry the following coverage:
- Building coverage at an amount adequate to rebuild the structure,
- Loss of business income or rents for at least 12 months,
- Ordinance or law coverage,
- General liability of at least $1M. Higher limits are recommended.
Beyond proper insurance coverage, a commercial landlord should also make sure they have a well-written lease that includes an indemnification clause. Read our blog posting “Commercial Landlord Property Insurance Basics” for further information about the pitfalls of allowing a tenant to insure the building on behalf of the landlord.
Also review our Landlord Best Practices for more information about protecting yourself and your investment from the actions of your tenants: Commercial Landlord Insurance Best Practice Letter
Get a Nevada Lessors Risk Insurance Quote
Lastly, let the experts at Safeguard provide you with a no-obligation quote for your commercial property insurance. With our multiple carrier relationships, chances are good we can find you a lessors risk insurance policy that provides better coverage for a better price. Contact us today!