I have a small LLC with no employees and want to rent a little office/wearhouse space in Nevada. Are these normal insurance/contract requirements for a 10"x15" ft space or is this outrageous? Also would this run me more than about $25 /month?
"1 million dollars and no/100ths combined single limit for injury to or death of one or more persons and property damage in any one occurrence"
AND
"2 million dollars and no/100ths For injury death or property damage on the aggregate for any one policy year. Optional coverage for personal property and loss of income shall be provided by Lessee."
AND
"The policy must contain a waiver of subrogation endorsement waving any and all rights of the subrogation by Lessee, It's insurer, And all others against the additional insured and any encombrancer of the building."
Thanks!
Posted by kittenspaint
1 Comment
It’s asking for the standard $1MM/$2MM Liability limits plus Waiver of Subrogation and telling you they won’t cover your Business Personal Property. Pretty standard, not outrageous.
The insurance company will probably rate off of square footage. I can’t give you and indication, but probably won’t be too costly.
Check with whoever insures your LLC. They can quote it for you.