(303) 422-1685 Wheat Ridge, CO

Protect Your Commercial Property with Lessors Risk Insurance in Wheat Ridge, CO

Safeguard Your Investment with Lessors Risk Insurance in Wheat Ridge, CO

 


Owning commercial property can be a rewarding venture, but it also comes with inherent risks. As a landlord, it’s essential to protect your investment from potential liability claims, property damage, and unexpected events. Lessors Risk Insurance (LRO) provides the protection you need to confidently lease out your commercial property.

At Active Insurance Agency, Inc., we know how important it is to protect your investment in Wheat Ridge, CO. Let’s look at how Lessors Risk Insurance works and why it’s essential for commercial property owners.

What is Lessors Risk Insurance?

Lessors Risk Insurance, also known as LRO insurance, is a specialized policy designed for landlords who rent out commercial properties. This coverage protects both the physical structure of the property and offers liability protection if someone is injured on your premises.

This type of insurance ensures you won’t be held financially liable for accidents, lawsuits, or damage to the property. The cost of LRO insurance depends on factors like property size, location, and tenant type in Wheat Ridge, CO. For more information, contact us at 303-422-1685.

Common Claims Covered by LRO Insurance

Lessors Risk Insurance helps cover various claims that might arise when leasing out commercial property. Some common claims include:

Fire or Smoke Damage

If a fire or smoke damages your building, LRO insurance helps cover the cost of repairs or rebuilding.

Vandalism

In the event of vandalism, such as broken windows or graffiti, your policy covers the repair costs.

Injury Claims

If someone is injured on your property, your policy covers legal fees and settlements related to the claim.

How LRO Insurance Protects You

Imagine you lease out a busy retail location in Wheat Ridge, CO, and a customer slips and falls, leading to a lawsuit against you as the property owner. Without Lessors Risk Insurance, you could be responsible for the legal fees and any settlement costs.

An LRO policy covers these liabilities, ensuring you aren’t left with burdensome expenses. For more details or to customize your policy, give us a call at 303-422-1685.

Key Coverages Included in Lessors Risk Insurance

Type of Coverage Details
Property Damage Covers the cost of repairing or replacing damaged property due to fire, theft, or natural disasters.
Legal Liability Provides coverage for lawsuits related to accidents on your property.
Loss of Rental Income Offers financial support if you lose rental income due to property damage.

Protect Your Property with Active Insurance Agency, Inc.

Whether you’re leasing an office building or a retail space in Wheat Ridge, CO, having the right insurance coverage is critical. Contact Active Insurance Agency, Inc. today at 303-422-1685 for a customized Lessors Risk Insurance quote. Ready to start? Fill out our online quote form now!