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Business Personal Property versus Tenants Improvements & Betterments

Most people know that when you lease an office you need to insure all of the property you bring to that office that will be used in your business.  This is covered under "Business Personal Property".  We often see this required in lease agreements.
 
But did you know that coverage for "Tenant Improvements & Betterments" should also be covered in your Business Personal Property limit?  Improvements & Betterments can include but are not limited to: "adding/upgrading new flooring", "adding/updating new cabinetry", "adding/upgrading new lighting", etc.  We often see this required in lease agreements as well and in most cases even if the Landlord made improvements on your behalf, they still require you to insure it.
 
Now would be a good time to review your lease and property limits to make sure you are adequately covered. Contact our office today at 888-512-8878.

By Gustavo Ruano, CIC, CLCS, CISR
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