Leases provide protection for both landlords and tenants. If a claim arises involving any or all the parties on the lease, the lease provides clarity in determining who is responsible and for what. If leases are written clearly and in unequivocal terms, courts tend to strictly enforce them as commercial contracts.
Be sure to educate your insureds on the importance of reading their commercial insurance policies carefully so they understand their policy may have terms within it that not only require a lease but also specific language in order for their commercial insurance policies to provide full coverage.
Read The Importance of a Lease for Commercial Tenants, and be sure to share our other helpful resources available to all USLI policyholders on our Business Resource Center.
