Leasehold Insurance


Definition of "Leasehold insurance"

Blaine Goins real estate agent
Blaine Goins, Real Estate Agent Georgia Evans Realty

Insurance coverage provided for an individual having a lease at a favorable rate, one which is less than the market value of the property. The insurance indemnifies the tenant for business losses in the event the landlord cancels the lease because of the occurrence of an insured peril, such as an explosion. The theory is that the loss of the favorable lease is a serious business loss that should be indemnified.

 

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