Business Rental Insurance and Why You May Need It

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Editor’s note: Lantern by SoFi seeks to provide content that is objective, independent and accurate. Writers are separate from our business operation and do not receive direct compensation from advertisers or partners. Read more about our Editorial Guidelines and How We Make Money.
What is Business Rental Insurance?
What Does Business Property Insurance Cover?
How is Insurance Cost Determined?
The size of your business The type of business you have The location of your business The number of people you have employed The value of your equipment Your claims history, if any
Replacement cost coverage is typically more expensive, but it will reimburse you for the full amount you need to buy new items. Present value coverage reduces the amount you are paid by taking into account the age of your damaged or stolen property (known as depreciation).
Why Do Landlords Require Liability Insurance as Part of Your Lease?
What Types of Businesses Need Property Insurance?
How to Find the Best Insurance Policy for Your Business
Consulting directly with an insurance company. You can work with a company directly to build a policy that fits your needs. You may want to call two or three and compare costs and coverage options. Searching the online marketplace. You can use online marketplace platforms to get quotes and compare multiple carriers that offer business renters insurance. Using an insurance agent or broker. They can give you access to quotes from multiple carriers and help you navigate through different policy options.
How Does Insurance Factor Into Your Small Business Loan?
The Takeaway
About the Author
Kelly Boyer Sagert is an Emmy Award-nominated writer with decades of professional writing experience. As she was getting her writing career off the ground, she spent several years working at a savings and loan institution, working in the following departments: savings, loans, IRAs, and auditing. She has published thousands of pieces online and in print.
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