Real Estate Owners
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The real estate rental and leasing industry is comprised of businesses that focus on the renting, leasing or other permissioned use of assets. These assets can range from tangible property such as apartments, cars and tuxedos, to intangible assets such as trademark or brand name licensing.
For those who own businesses within this industry, the risks are high, but the rewards are often lucrative. You can mitigate many of your industry’s risks by investing in a comprehensive business insurance policy that is designed specifically for businesses in the real estate rental and leasing industry sector.
Whenever you lease or rent property to others, you run the risk of damage, loss, theft or other problems with that property. You also open the door to liability lawsuits if the property or product in question causes injury, illness or third-party property damage.
It is therefore imperative that you protect the investment you have made in your business with a business insurance policy that is specifically designed for real estate rental and leasing industry businesses.
Your industry is real estate, not insurance. You should therefore not have to struggle with learning about the many different insurance options offered by business insurance plans on your own. We are available to help you every step of the way.
We can answer your insurance-related questions, help you assess your coverage needs, and work with a number of different insurance companies to build a policy that is well-suited to your specific company.
At First Underwriters. we also advocate for you if you ever need to file a claim.
Real Estate Owners Insurance Coverages
Insurance exists for the purpose of protecting persons and organizations from the adverse financial consequences of certain unpredictable events, regardless of the coverage line being considered. For general liability insurance, the unpredictable event that constitutes the subject of the insurance is a claim of legal liability arising out of a company’s operations, premises, products, and completed work.
The Commercial Auto policy will pay “sums” for which the insured is legally liable because of bodily injury or property damage to which the insurance applies. Therefore, while covered bodily injury or property damage is required to trigger coverage, recovery under the policy can actually go beyond these types of damages.
Commercial property is the policy that an organization purchases to pay for damage to its own buildings and the personal property in them. A commercial property policy can also cover loss of income or increase in expenses that result from insured damage to buildings and their contents.
You are legally responsible if and when products, properties or dwellings that your rent to others create an unsafe environment or situation wherein third-party injuries, illnesses or property damage occurs. This coverage is designed to cover your legal defense fees as well as financial judgments that may be brought against your company.