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Liability insurance is essential for a commercial tenant

No matter how much planning you do, something could go wrong. For this reason, part of your business planning involves purchasing insurance policies to cover different eventualities that could occur during the course of your business. As a commercial tenant, your Orange County landlord will more than likely expect you to include liability insurance in those policies.

As part of most commercial leases, you and the landlord will determine who is responsible for what when it comes to the rental space. You will probably be responsible for any damages caused by you and your employees, if any. Not only does this protect your landlord, but it also protects you from having to pay for any damages out-of-pocket.

When you go to purchase liability insurance, you may find that there are different types. You may need more than one type in order to satisfy your landlord's requirements and protect your business. For instance, you may need business interruption insurance, which provides you with benefits if you are unable to continue operations when some sort of damage prevents normal operations. You may also need general liability insurance and other policies that may be specific to your particular business.

As you begin negotiating your lease as a commercial tenant, you may want to bring up the topic of liability insurance with your prospective landlord. You could negotiate the types and limits of any policies he or she expects you to have in order to rent the space. Depending on where in Orange County you intend to rent and the type of business you have, it may be a good idea to conduct some research in an attempt to anticipate what types of liability insurance may be needed in order to satisfy your landlord's requirements and protect your business.

Source: insureon.com, "Why Your Commercial Lease Requires Liability Insurance", Accessed on April 15, 2018

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