Q:

What is Lessor's risk insurance?

A:

Lessor insurance is a financial product that protects owners of buildings that lease space for retail, warehousing, office or personal use, according to the Houston Chronicle.

Lessor's risk insurance protects the owner of rental property from lawsuits and other forms of damage, reports Owen Pearson in an article on the Houston Chronicle's website. Real estate owners benefit from a lessor insurance policy by shielding themselves from legal action by their lessees or by a client of a lessee who experiences any type of physical or property damage while in the owner's space.

This form of insurance enables its policy holders to choose coverage criteria that determine the maximum amount the insurer will be obligated for in a single case. Once this maximum amount has been reached, the policy holder is responsible for the remaining amount. It is important to note that providers of lessor insurance do not work directly with customers. Instead, a customer works with a broker or agent who specializes in this type of insurance vehicle. In addition, to be eligible for such a policy, a candidate usually must lease out an entire building or occupy no more than 25 percent of a designated space for his personal or business use, Pearson said.

Learn More

Related Questions

  • Q:

    Are health insurance premiums tax-deductible?

    A:

    Bankrate states that health insurance premiums paid by an individual are tax-deductible, but the portion of health insurance paid by employers is not tax-deductible. To deduct health insurance that has not been paid pre-tax, the taxpayer must itemize premiums as medical expenses on Schedule A.

    Full Answer >
    Filed Under:
  • Q:

    What does Aetna dental insurance cover?

    A:

    The exact procedures and services that Aetna dental insurance covers can vary based on the type of policy a consumer has. Examples of procedures that may be covered can include cleanings, composite fillings, prosthetic replacements, root canals, crowns or orthodontic treatment. Some oral surgeries may also be covered.

    Full Answer >
    Filed Under:
  • Q:

    What is USAA Roadside Assistance?

    A:

    USAA Roadside Assistance is a service that insurance company USAA offers to policyholders to provide help when someone is stranded on the side of the road, much like AAA, according to Bankrate. The consumer can add the service onto the car insurance bill at her discretion.

    Full Answer >
    Filed Under:
  • Q:

    Does Medicaid cover eye exams?

    A:

    Medicaid typically provides services that cover vision benefits, including eye exams in most states. The frequency individuals may receive an eye exam varies from state to state. Children under 21 can receive eye exams, eyeglass frames and lenses under a Medicaid program.

    Full Answer >
    Filed Under:

Explore