leasehold insurance

Definition of "leasehold insurance"
  1. A kind of coverage that compensates the tenant of a property for any financial loss because of termination of a lease due to fire or other specified risks
How to use "leasehold insurance" in a sentence
  1. The tenant decided to take out leasehold insurance to cover any potential losses from unexpected lease termination.
  2. The new lease agreement requires the tenant to have leasehold insurance as a safeguard against abrupt contractual termination due to specific disasters.
  3. The fire damaged the premise, but thankfully, the tenant's leasehold insurance covered the monetary loss from the early termination of the lease.

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