Inside South FloridaTrusted AdvisorsDemesmin and Dover


Understanding Business Renter's Insurance: A Comprehensive Guide

Posted at 2:03 AM, May 10, 2024
and last updated 2024-05-10 02:03:17-04

Disclaimer: This Inside South Florida segment is sponsored by Demesmin & Dover Law Firm. All opinions and views are of the advertiser and does not reflect the same of WSFL-TV.

Business renter's insurance is a critical component of risk management for entrepreneurs who lease commercial space. In a recent interview with trusted legal advisors from Demesmin & Dover Law Firm, property damage attorneys Nathacha Bien Aime and Dahlene provided valuable insights into the importance, coverage, cost, acquisition, and legal aspects of business renter's insurance in Florida.

Nathacha emphasizes that if you own a business and lease space, whether it's a storefront, warehouse, or office, a business owner's policy is essential. This insurance protects your business from various risks associated with leased premises.

Dahlene breaks down the three main types of coverage provided by business renter's insurance:

  1. General liability: Covers injuries to workers or visitors on the property.
  2. Commercial property coverage: Protects against property damage caused by events like vandalism, hurricanes, or plumbing issues.
  3. Loss of business income: Compensates for financial losses incurred due to business interruption, such as during a natural disaster.

Nathacha notes that the average annual cost of business renter's insurance is around $1,200. However, rates may vary depending on factors such as equipment, number of employees, and location. More complex businesses typically have higher insurance rates.

Dahlene outlines three methods for obtaining business renter's insurance:

  1. Working with an insurance broker for expert guidance.
  2. Exploring online marketplaces for policy comparisons.
  3. Directly contacting insurance companies to tailor coverage to your business needs.

Dahlene explains that business insurance covers property damage under either actual cash value or replacement cost value policies. Actual cash value considers the property's value minus depreciation, while replacement cost value covers the current market price for property replacement.

Nathacha advises consulting an attorney if your insurance claim is denied or underpaid. Legal guidance can also be sought if there's uncertainty about coverage eligibility or rights under the policy.

Understanding business renter's insurance is essential for safeguarding your business against unforeseen risks. Whether it's selecting the right coverage, navigating legal issues, or ensuring fair compensation, legal experts like Nathacha and Dahlene provide valuable assistance. For more information and legal guidance, visit Demesmin in Dover's website at

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10:49 AM, Jul 26, 2019

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