Blog · Coverage Explained
Coverage Explained
commercial property insurance guides in coverage explained, written and reviewed by Nate Jones, CPCU.
- Coverage Explained
GL Class Codes 61212 and 61217: What the Lessors Risk Only Classifications Mean
GL class codes 61212 and 61217 are the standard lessors risk only classifications for leased commercial buildings. What each means and why it splits.
- Coverage Explained
Landlord as Additional Insured: What a Commercial Landlord Actually Needs on the Tenant’s Policy
Naming a landlord as additional insured on the tenant’s policy: three ISO endorsements appear in leases and only one was written for a building owner.
- Coverage Explained
Coinsurance on a Commercial Building
Coinsurance is a condition on your own limit. How the reduction is calculated, why it reaches small claims, and the endorsement that switches it off.
- Coverage Explained
How Loss of Rents Actually Pays
Rent coverage pays a demonstrated loss, in arrears, against a defined period — not a copy of your rent roll. How the number is built and what proves it.
- Coverage Explained
NNN (Triple Net) Leases: Who Insures What
The triple net lease insurance clause decides who pays the premium, not whose policy answers. The forms behind the split and the endorsements that hold it.
- Coverage Explained
Ordinance or Law, in Plain Terms
Ordinance or law is one endorsement carrying three separate coverages with separate limits. What each pays, and why a partial loss is where it matters.
- Coverage Explained
Replacement Cost vs Actual Cash Value on a Commercial Building
Valuation basis is one line in the loss conditions and it decides what a claim funds. How depreciation is derived, and when functional valuation is honest.
- Coverage Explained
Tenant Discrimination Exposure for Commercial Landlords
A discrimination complaint is not bodily injury or property damage, so the liability form never reaches it. Where that gap comes from, in the form’s words.
- Coverage Explained
The Standard Fire Policy: Why the 1943 Form Still Shows Up in Commercial Building Coverage
A fire policy standardized in New York in 1943 is still enacted law in some state codes, and mandated by reference elsewhere. Which one governs you.
- Coverage Explained
The Vacancy Clause and When It Starts Running
The vacancy provision is a loss condition, not an exclusion. Where it sits in the form, what its two halves do, and why the wording is not national.
- Coverage Explained
Umbrella Limits and the Schedule-of-Underlying Trap
An umbrella is a separate contract with a condition attached: keep the scheduled policies exactly as scheduled. What happens when one of them moves.
- Coverage Explained
Waiver of Subrogation in a Commercial Lease: Property and Liability Policies
A lease clause promises the waiver; the property policy has to perform it. Property and liability sides work by different mechanics, and order matters.
- Coverage Explained
What Is Lessors Risk Insurance? Lessor’s Risk, Lessor Risk and LRO
Lessors risk insurance, also called lessor’s risk or lessors risk only (LRO), covers a building you lease to tenants. What it covers and omits.
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