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Liability Insurance Liability insurance is essential for any commercial property owner. Ensure that your property is accurately assessed to avoid being underinsured, which can lead to significant out-of-pocketexpenses, or overinsured, which can unnecessarily increase your premiums.
Out-of-pocketexpenses Sometimes, even after paying the deductible, there may be other expenses that your insurance does not cover. These are called out-of-pocketexpenses. The amount depends on the severity and frequency of claims. One important factor is the type of insurance you have.
It covers property damage, loss of income, liability claims, etc. Additionally, it can provide coverage for business interruption, tenant improvements, and liability claims arising from third-party injuries or property damage on the premises. It is important to note that inadequate coverage can have severe consequences.
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