Lessor's Risk Insurance Coverage Checklist
The coverages a lessor's risk business may carry — core, prevalent, and situational — why each matters, and the gap most often missed.
Pull out your current policy and check the box next to any coverage you can confirm is already in place — anything unchecked is worth a quick conversation with your advisor. Coverage checklist for owners who lease commercial buildings to tenants. Priorities reflect typical exposure; confirm against tenants and vacancy.
Tick each coverage you can confirm you carry — anything left unticked is a good question for your next policy review.
| Have it? | Coverage | Why this business needs it | Priority |
|---|---|---|---|
| Commercial Property (incl. Loss of Rents) | Covers the buildings and lost rent while damaged space can't be leased. | Core | |
| General Liability (Lessor's Risk) | Covers injuries in parking lots, sidewalks, and common areas the owner controls. | Core | |
| Umbrella / Excess Liability | Adds limits above general liability for serious injuries. | Prevalent | |
| Equipment Breakdown | Covers HVAC, elevators, and electrical systems. | Prevalent | |
| Ordinance or Law | Pays added costs to rebuild older buildings to current code. | Prevalent | |
| Vacancy Permit / Vacant Building Coverage | Standard policies can cut coverage after 60 days vacant — add it if space sits empty. | Situational | |
| Flood / Earthquake | Excluded from standard property — add for exposed locations. | Situational |
The coverage gap most often missed
The most commonly missed gap for this class is vacancy. With office vacancy at a record 21% in 2026, many owners have space empty long enough to trigger the property policy's vacancy clause, which can suspend or reduce coverage after 60 days. Owners should track vacant space, add a vacancy permit where needed, and require tenants to carry insurance naming them as additional insured.
Send us the checklist and we'll review your lessor's risk coverage line by line, then market it across multiple carriers that compete for your account.
Related: Lessor's Risk Insurance · Lessor's Risk Supplemental (apply) · All coverage checklists
Frequently asked questions
What insurance does a lessor's risk business need?
The core coverages for a lessor's risk business are Commercial Property (incl. Loss of Rents), General Liability (Lessor's Risk). This checklist also lists the prevalent and situational coverages worth considering, with a plain-English note on why each matters.
Is this checklist insurance advice?
No. It is a free educational tool to help you have a more informed conversation with a licensed professional. It affords no coverage and is not insurance, legal, or financial advice — only your actual policy language governs what is and isn't covered.
Can Cory Washington & Co. review my lessor's risk coverage?
Yes. Share your checklist and we'll review your program line by line, market your account across multiple carriers, and explain the trade-offs in plain English. Cory Washington & Co. LLC is licensed in all 50 states.
This checklist is a free educational tool from Cory Washington & Co. to help you review your own coverage and have a more informed conversation with a licensed insurance professional. It is general information only — not insurance, legal, or financial advice, and not a recommendation to buy, change, or cancel any policy. Coverage terms, availability, limits, and requirements vary by policy, carrier, and state, and only the language in your actual policy governs what is and isn’t covered. Checking or leaving blank any item above does not indicate that you are adequately insured or under-insured. Using this checklist does not create a client, agency, or fiduciary relationship. Always consult a licensed professional about your specific situation.