This Commercial Lease provision addresses insurance required by the landlord or his Real Estate Lawyer when Renting Commercial Properties. The amounts of insurance may vary depending on whether you rent retail, office, industrial, or warehouse space.
Insurance provisions in Commercial Lease Agreements typically include that: the insurance policy and company is subject to the landlord’s approval; the landlord will be named as an additional insured; and copies of payments by the tenant of insurance premiums are given to the landlord. Similar Business Lease provisions also provide that the proceeds of all casualty insurance and flood insurance will be applied to the repair and restoration of the leased real estate. Download here or click image below. Leases – Commercial Insurance Provision