Renting an Office – What are the insurance requirements?


commercial-liability-insuranceWell 2015 is over and 2016 is here! I just want to wish everyone a very Happy & Prosperous 2016 and with that, I would like to give you a tip for success in 2016.

As you prosper in your business you may come to that place where you need a new office, or some may need an office for the very first time. When you are out there looking at location, before you sign a lease, you need to make sure to ask what the insurance requirements are to comply with the lease. That is correct, just like if you were thinking of getting a new car, you would want to ask your insurance professional how this new vehicle will affect your car insurance rates, you need to do the same thing with an office. The answer you will get will vary.

I have seen some small offices that have no requirements, but more likely they will have a list of requirements that you will have to comply with and one of them will be for Commercial General Liability insurance. Some will want to be added as an additional insured, some will also want a waiver of subrogation, others may want very high limits, or underlying limits, and others will want certain language within the policy. Depending on what they want, the policy can be inexpensive or very expensive.

It is always better to find out that the insurance for the office you just fell in love with is just too expensive for your budget BEFORE you sign a contract. Word to the wise, ASK your insurance professional before hand and if you do not have one then feel free to contact us at Policy Point Insurance where we can help you pinpoint your policy needs.

Another success tip is to get out there and attend some events! I will be exhibiting at the 2016 Business Explosion at the QLN Conference Center 1938 Avenida del Oro in Oceanside from 2:00pm – 6:00pm and I want to invite all of you to attend and come by my booth to say “hi”. It should be a good time for all. There will be food, wine, and beer vendors with samples of their food and drink and over 250 people should be there! Tickets to attend are only $10 and can be purchased at this link
Hope to see you there!

For those interested in getting auto insurance for travel to Mexico click this link to get your own quote

For those interested in getting a pet insurance quote click this link to get your own quote

Have a wonderful month!