This question of insurance when leasing a warehouse for rent is a frequently asked question, one we probably hear once or twice each month, so let’s tackle it now in an attempt to clarify the matter. We are the Fort Worth Design District, located in the Alliance Area of North Fort Worth, and we have what you need, whether that be a warehouse for rent, retail space for lease, shop for rent, or any other type of commercial or industrial space for lease. Call us t 817-439-3224 for more information about our funky enclave of creative spaces.
Now, let’s talk about insurance.
Is a warehouse for rent insured by the building owner?
Yes, the warehouse you are about to rent is insured by the owner of that warehouse.
What types of insurance do you need for a warehouse for rent?
However, and this is important to understand, that insurance policy held by the building owner only protects that owner in the event something happens to that building, or in the event that somehow you are injured as a direct result of building-caused injury.
What you need, as the renter, is insurance which will protect your company, and there are three types of insurance which do that:
- General liability insurance, which cover any claims of injury by nonemployees.
- Commercial property insurance, which protects your business from theft, vandalism, or damage due to natural disasters.
- Business Interruption Insurance, which protects your business from loss of income should your business stop operating due to some disaster.
All three of these insurance coverages can be bundled into what is called a business owner’s policy, and it is available through all major insurance carriers.
The cost of this insurance.
On average, the cost of a business owner’s policy is about $100 per month, or $1200 annually. This is an average price, so we encourage you to call several insurance companies to gain a more accurate cost statement for your particular area.
Do we recommend you take out a business owner’s policy? Yes, without hesitation or reservation, we think it is foolhardy not to carry that type of blanket coverage for your business. Whether you rent a warehouse, or purchase one, your company needs to be completely covered so that no matter what happens in the future, your business is protected.
In other words, pay now or pay considerably more later.
A final word about the Fort Worth Design District.
The Fort Worth Design District is an enclave of three separate business parks on forty-plus acres in the heart of the fastest-growing commercial and industrial area in Tarrant County. There you will find Box Office Warehouse Suites, Paddock Place Office Suites, and the Golden Triangle Business Park. Our properties range from 320 square feet in size to over ten-thousand square feet, and we have all types of commercial and industrial space for lease. No matter what you need, and no matter the size of your budget, we have it at the Fort Worth Design District. Call us today, tell us what you need, and then turn us loose to find it for you.