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When you lease commercial properties, you may not always be aware of the risks that come with it. Protecting your investment from accidents, liability claims, and damage is a crucial responsibility as a landlord. This is where Lessors Risk Insurance (LRO) comes in, providing you with comprehensive coverage that shields you from the unexpected while offering peace of mind.
At Nick Watson Agency, we believe in helping property owners like you in Gladstone, OR secure the right coverage for their needs. Let’s dive into how Lessors Risk Insurance can offer critical protection for your commercial property investments.
Lessors Risk Insurance, often abbreviated as LRO, is a type of policy designed to cover landlords renting out commercial spaces. This insurance offers a safeguard against liability claims and property damage that might arise during the rental period. Whether you own an office complex, retail location, or an industrial warehouse, LRO insurance ensures you’re covered.
The cost of LRO insurance is influenced by factors such as the size of your property, the businesses you lease to, and the overall risk level of the area in Gladstone, OR. For more details about what this insurance covers, feel free to reach out to 503-658-7200.
Lessors Risk Insurance provides a wide range of protection for landlords. Some of the most common claims include:
When a fire or smoke damages your property, LRO insurance can help cover the cost of repairs.
Vandalism or theft on your property is covered under your policy, helping to reduce financial loss.
Accidents happen, and if a tenant or visitor is injured on your property, LRO insurance helps with legal costs.
Consider the scenario of leasing your commercial building to a bustling retail store in Gladstone, OR. Things are running smoothly until one day, a customer slips, falls, and files a lawsuit. Without Lessors Risk Insurance, you might be on the hook for legal fees, medical expenses, and more.
With an LRO policy, your insurance will cover these unexpected costs, ensuring you’re protected from costly legal battles. Reach out to us at 503-658-7200 for more information on tailoring your policy to fit your needs.
| Coverage | Protection Offered |
|---|---|
| Building Damage | Covers damage to your building caused by fire, vandalism, or storms. |
| Legal Liability | Provides coverage for lawsuits and legal claims filed against you. |
| Lost Rental Income | Replaces lost income if your property becomes uninhabitable due to damage. |
Being a landlord comes with its risks, but at Nick Watson Agency, we ensure that you are covered. Let us help you protect your property in Gladstone, OR with a customized Lessors Risk Insurance plan. Call 503-658-7200 or fill out our online quote request form to get started today!