I just moved into a new business location. My lease states that I must list my landlord as an additional insured. Is that easy to do? Do I just call my insurance and have them add right away or do I have to wait until it is time to renew? Also, approximately by what percentage will that cause my insurance to go up? I have already had a rate increase because I live in Louisiana (Katrina). It is still affordable but I am scared that adding on the additional insured may cause it to double, which I can't really afford.
2006-09-16 06:21:30 · 3 answers · asked by Just Me 1 in Business & Finance ➔ Small Business
Talk to your insurance agent. Should not be a big deal but it might change your rate.
2006-09-16 06:23:57 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Just call your agent. That is a common practice and should not result in an increase or any kind of charge. Insurance companies do that all the time. It only means that in the event of a loss, the landlord will be in the loop before any damages are paid. He needs that protection and that is his right if his property gets damaged along with yours. No big deal.
2006-09-16 13:24:39 · answer #2 · answered by united9198 7 · 0⤊ 0⤋
How do I add my landlord onto my business insurance policy as an adition insured?
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2014-06-30 23:18:36 · answer #3 · answered by ? 1 · 0⤊ 0⤋
I don't live in Louisiana but it sounds a bit precarious! Your "landlord" should have his OWN policy while you should have a "rentors" policy protecting your own contents- not his dwelling! What would be his "additionally insured" liability on your policy?
2006-09-20 09:00:11 · answer #4 · answered by Anonymous · 0⤊ 0⤋