checklist-2077019_640Why It Is Important to Have Us Review Your Lease Agreements A Business Insurance Update Most businesses enter into lease agreements from time to time. These agreements might involve equipment, buildings or other products and or services.  Every lease agreement has insurance provisions.  Your commercial insurance may or may not respond to the lease requirement, so it is important for you to understand how your business insurance relates to your lease agreements.
  • The lease agreements state who is responsible for insuring what. If you are leasing a building and the lease requires you to insure the building, it will need to be added to your business property policy.
  • There may need to be improvements made to the leased building for which you are also responsible.
  • Many leases also require some level of commercial liability insurance. If you do not have the correct terms and limits you could jeopardize the lease.
  • Certain leases also have care custody and control provisions. Your business insurance may need to be modified to protect all parties.
  • Typically, all leases have some sort of subrogation clause which puts legal requirement on your insurer.
It is important for businesses of all types to have this important type of coverage in order to protect their financial interests. Without a commercial property insurance policy, businesses are fully responsible for the costs associated with property damage and loss. J.S. Edwards & Sherlock Insurance Agency enjoys a rich heritage dating back over 100 years proudly servicing all of Southeast Texas. A combination of two family-owned agencies built on the values of their founders, the firm is now one of Texas’ leading Independent Insurance Agencies. With offices in Beaumont and Houston J.S. Edwards & Sherlock Insurance Agency offers everything from Commercial Insurance and Personal Lines Coverages to Workers Compensation Plans and Life, Health and Employee Benefits. As an Independent Insurance Agency, we represent numerous insurance companies that allow us to compare coverage and premiums in order to best meet your insurance needs. The mission of J.S. Edwards & Sherlock Insurance Agency is to provide insurance protection for our clients with quality products and excellent service. We want to work with you to find the best insurance solutions for you, your family and your business.