Rentals and Leasing Insurance

This policy will cover property damage and personal injuries that occur on your business property, even before a lease or rental agreement has been signed. Although this will not cover renters or lessees, you will be not be liable for any personal injuries or property damage that occurs on properties that are under a rental agreement.

A BOP will typically combine the features of two, very important policies: General Liability Insurance and Commercial Property Insurance, covering of these policies will cover issues that involve personal injury, claims against your business related to false advertising and damage to your property. These policies will become particularly important once you first lease a property.

Also known as Professional Liability Insurance, E&O Insurance is designed to protect a business when a lawsuit arises from a claim relating to a decision you or a surrogate made while providing services, for example, evicting a lessee, or not renting or leasing a property to someone. In any case, your business may be on the hook for a legal complaint.

It is a requirement in the U.S., except in Texas, once a company has employed a minimum number of employees (as few as 2 or 3). Alternatively, you will need this if your employees are responsible for the general upkeep of your properties (including maintenance and cleaning crews).

Even if you are not required to purchase this policy, it is a must in case of employee injuries.

If a vehicle you own is either registered to your business or is primarily used for business, you need Commercial Auto Insurance (including maintenance trucks and cars for your cleaning staff).

Reasons to consider this policy over a Personal Auto Insurance Policy:

• Added coverage for business purposes use.
• Covers employee accidents without the need to register every employee as a driver.

Commercial Property Insurance will provide coverage for your properties in case damage renders them impossible to rent or lease.

This insurance policy is important for two, essential reason:

• Coverage for income properties damaged as a result of natural or man-made disasters.
• Income loss coverage in case you are unable to draw an income due to damaged properties.

Cyber attacks are on the rise. Even if your business is small, a cyber attack could result in stolen personal data from your customers. This can include bank account information, credit card information, or other personal information. Your business would be directly responsible, even if you had safeguards in place. This does not include the potential problems you may have with compliance laws.