All the recent rioting across the country has opened the eyes to many business owners when their landlord gives them the bill for glass damage. Unfortunately many leases stipulate tenants must pay for damage to glass, doors, built in shelves, etc... Many tenants had no idea that they had to contractually pay. The problem here is that many business insurance policies do not automatically cover glass of a landlord or building owner you rent from. Usually the coverage needs to be added on. If you rent space, read your lease. Look for provisions where you are held responsible for glass and other building items. You may not think that it is a fair deal for you to be responsible, but unfortunately a lease is a contract. Let your insurance professional know if you are responsible for coverage. You do not want to get surprised when there is a claim. Until next time be careful out there and know your risk!
Posted by G Kevin Nemith. President. CNC/Pfister Insurance. Part of the Hilb Group of the MidAtlantic
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