Is Tenant Liability Insurance the same as Commercial General Liability Insurance?

Commercial General Liability Insurance is a general policy that applies to all sorts of businesses as it provides coverage for bodily injuries or property damage to third parties for which the business can be held liable. Tenant Liability Insurance provides similar coverage, but it is specifically designed to cover a tenant’s legal liability towards the landlord in cases of injury or property damage.

Does my Tenant Insurance policy cover my company’s property and equipment (computers, furniture, etc)?

Coverage for your company’s assets and equipment is not provided under a Tenant Insurance policy. The policy is designed to cover a tenant’s legal liability towards the landlord in cases of property damage or bodily injury. For example, if your employees damage the walls of the rented space, or someone injures themselves while on the rental property. Your own assets and equipment do not fall under this criteria and hence will not be covered by your Tenant Insurance policy. To protect your property and equipment, add commercial property coverage to your insurance policy.

Am I legally required to obtain Tenant Liability Insurance?

Although you are not legally required to obtain Tenant Liability Insurance, it is very common practice for landlords to require their tenants to have insurance coverage before leasing to them. Rental properties are expensive assets and damages can be extremely costly to fix. In fact, at Zensurance, in the majority of cases where a client requests a quote for Tenant Liability Insurance, it is because they have been asked to get insured before signing a lease.