Colorado Leased Building Liability and Property Insurance
General liability and property insurance quotes, policies, service and advice for companies or individuals that own buildings located in Colorado or Denver. Policies include coverage for buildings that are leased to retail, manufacturing or mercantile tenants. Below are some items that are important for every leased building to keep the cost of insurance down and to make your company’s asset attractive to insurance companies. Please feel free to contact us to discuss lessors risk insurance and your Colorado business.
- A complete list of tenants will be required including square feet occupied by each on an annual basis
- Vacancy rate will be a large factor in the coverage we are able to offer and the price of the policy
- Information on the age, condition and repair of the building will also be a major factor.
- If you have work done to the roof, wiring, plumbing or electrical please document the year of construction and details on what was done to the structure
- Is there a fire alarm? Sprinklers? Burglar alarm?
- Adequate wiring to meet the demands of the tenants
- Unique architecture should be accounted for in the building value
- Tenants need to name your company as an additional insured in the lease
- Common area flooring, parking lots, sidewalks and other public areas of the building need to be in good repair.
- Exits need to be well marked with battery back up for power loss
- Timely snow and ice maintenance to parking lot, sidewalks and outdoor common areas
- What security measures are in place? Is there adequate exterior lighting?
- Hired non owned auto should be considered to cover employees using personal car for business
- If janitorial, maintenance and service functions are performed by employees they should receive proper training to avoid common injuries
Miscellaneous
- Collect certificates of insurance from all maintenance companies including janitorial and snow removal entities (have their insurance companies send certificates directly to your company)
- To avoid employee theft, orders and disbursements must be handled by separate individuals
- Data should be kept off premise in the event of a loss
Orcutt Insurance Group is an independent Colorado insurance agency providing policies to numerous businesses in this great state since 2004. We are looking forward to working with you. For information on quotes please visit our property insurance page.
Thank you for your consideration.
The Orcutt Group Team