Building Owners/LRO (Lessor's Risk Only) Insurance Solutions
We have your building covered
At Prosperity Insurance Partners, LLC, serving St. Petersburg, FL, and the surrounding areas, including Hudson, we understand the specific insurance needs of building owners and lessors. Protecting your investment property and mitigating potential liabilities is crucial for long-term success. We offer tailored Lessor's Risk Only (LRO) insurance solutions designed to provide comprehensive coverage and peace of mind, allowing you to focus on managing your property.
Key Insurance Coverages for Your Building Coverage
Lessor’s Risk Only (LRO) Coverage:
Explanation of LRO coverage and its purpose (protecting the building owner's liability for common areas).
Emphasis on coverage for bodily injury or property damage claims arising from the ownership, maintenance, or use of the insured premises.
Property Insurance:
Coverage for the building itself (and any owned structures) against various perils (fire, wind, hail, etc.).
Options for replacement cost coverage or actual cash value.
Consideration for coverage of building systems (HVAC, plumbing, electrical).
General Liability Insurance:
Coverage for bodily injury or property damage to third parties that may occur on the premises.
Emphasis on coverage for common areas (hallways, lobbies, parking lots).
Explanation of how this differs from tenant liability.
Optional/Additional Coverages:
Ordinance or Law Coverage:
Coverage for increased costs due to changes in building codes or ordinances.
Business Interruption Insurance:
Coverage for loss of rental income due to a covered event (e.g., fire).
Flood Insurance:
If applicable, explanation of flood risks and the importance of flood insurance.
Earthquake Insurance:
If applicable, explanation of earthquake risks and the availability of earthquake coverage.
Equipment Breakdown Coverage:
Coverage for unexpected repair or replacement costs due to mechanical or electrical breakdown of equipment.
Why Choose Prosperity Insurance Partners, LLC:
Expertise in Lessor's Risk Only insurance.
Tailored coverage solutions for building owners.
Comprehensive risk assessment and policy review.
Excellent customer service and claims support.