< Study Room | 06.03.2017

Generally, which of these ultimately pays the insurance premium on a commercial property owners policy?

Generally, which of these ultimately pays the insurance premium on a commercial property owners policy?

A: The owner

B: The tenant

C: The managing agent

D: The owner and the managing agent

 

Answer:

B. Market practice is for commercial property owners to charge the insurance premium out to their tenants, compared with residential property leases where usually the property owner will stand the cost of the insurance premium.

Share

Related articles

A client’s broker should not be appointed a trustee for their policy’s trust. Why is this the case?

A client’s broker should not be appointed a trustee for their policy’s trust. Why is this the case?

C: To avoid all possible conflicts of interest a broker should not be appointed a trustee of their client’s policy.

Which of these is an example of an express warranty in an insurance policy?

Which of these is an example of an express warranty in an insurance policy?

A: A promise by the insurer that cover will continue as long as the premium is paid by the insured B: A promise by the insured that the items of value will be stored in a locked safe overnight