What Is Canadian Tenants Legal Liability Insurance?
|Click Here For An Insurance Quote Today!
Call us toll free at 1-866-287-0448
In almost every commercial lease landlords will require tenants to provide evidence of tenants legal liability insurance. But what is Canadian tenants legal liability insurance? The answer is that Canadian tenants legal liability insurance is no different than tenants legal liability insurance in any other geography an it is ultimately protection for the landlord for unintentional damage tenants may cause to their building.
Canadian Tenants Legal Liability Insurance Explained
When entering into a commercial lease a tenant of the landlord accepts responsibility for damage they might cause to the building to their tenancy. For comfort and certainty and because the landlord doesn’t want to rely on the balance sheet of their tenant for damages that could be caused by them to their building the require tenants to provide evidence of tenants legal liability insurance via a certificate of insurance that an insurance broker, like ALIGNED Insurance, can issue on their clients behalf. Canadian tenants legal liability insurance coverage is no a stand alone insurance product, but is actually just one of many parts of the typical Commercial General Liability Insurance policy which is common product that nearly every business carries. One important thing to note about Canadian tenants legal liability insurance coverage is that often landlords don’t actually secure evidence that their tenants have sufficient limits as required by the lease. Often the CGL Insurance per occurrence limit is the only limit typical insurance brokers will evidence on a certificate of insurance, but often the tenants legal liability limit within the commercial general liability policy is considerably less and often doesn’t meet the requirements of the lease or sufficiently protect the insured for their exposure.
For more information on what is Canadian tenants legal liability insurance or for answers to other insurance questions, insurance quotes etc. call us toll free at 1-866-287-0448
|We’re ALIGNED Across Canada 100% Canadian owned, ALIGNED is a premiere insurance brokerage that serves small, medium and large organizations. ALIGNED’s offices in Toronto, Calgary and Vancouver are supported by a national operations centre in Cambridge, Ontario. As one of Canada’s fastest growing insurance brokerages, we invite you to learn more about us and connect @ALIGNEDonRisk, on Facebook or LinkedIn.|