What type of insurance do I need to purchase when buying or leasing commercial real estate?

When buying or leasing commercial real estate in Washington, you need to purchase certain types of insurance. Some of the most common insurances include property insurance, liability insurance, and tenant insurance. Property insurance protects you against a variety of damages, such as poor weather or vandalism. This type of insurance offers financial protection for buildings, as well as equipment and other items within the buildings. Liability insurance helps covers you against any legal action that might be taken against you by a third party. It may also help protect you in the event of an accident occurring on the property. Tenant insurance, sometimes called renters insurance, offers protection for the tenant in case of damage to their belongings or if they are held responsible for any damage caused to the property. This type of insurance is usually required by most landlords before the tenant can move in. Finally, it is important to remember that the type of insurance you need to purchase when buying or leasing commercial real estate in Washington may depend upon the specific circumstances of the property. It is best to consult with an experienced attorney or insurance agent before signing any agreements.

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What type of insurance do I need to purchase when buying or leasing commercial real estate?

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