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Cravens Warren

Serving the risk management and commercial insurance needs of business. Cravens Warren, founded in 1946, has been serving the insurance needs of... read more

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  • 10011 West Gulf Bank
    Houston, TX 77040
  • Phone (713) 690-6000
    Fax (713) 690-6020
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Insurance Requirements in Lease Agreements - Commercial Property Insurance

Feb 1, 2012

Insurance Requirements in Lease Agreements - Commercial Property Insurance

I looked at the lease agreement for the building I rent and it appears the landlord wants me to be responsible for damage to portions of the building, such as HVAC equipment and glass. Will you review the lease for me and let me know what kind of insurance I need?

That’s an excellent question. We applaud you for reading your lease agreement and noting there are some obligations that may require additional insurance coverage.

We would be happy to review the lease agreement to determine if there are any insurance requirements or other obligations that can be insured. In performing our review, however, please note we are not attorneys and we are not providing legal advice or a legal opinion concerning any portion of the agreement. In addition, our agency is not undertaking to identify all potential liabilities that may arise under the agreement. We recommend that you seek the advice of your attorney before signing the lease agreement if possible. We will be available to discuss any insurance requirements of the agreement with your attorney, if you want us to do that.

Building lease agreements almost always contain clauses that require the tenant to insure something.

Liability Insurance. Most lease agreements require the tenant to carry liability insurance with a specified limit of liability, such as $1,000,000 for each occurrence, and usually require the tenant to add the landlord as an additional insured. This coverage protects you and the landlord in case a customer or visitor is injured while on your premises. These requirements are easily addressed with a Commercial General Liability policy that includes a special endorsement to include the landlord as an additional insured.