leasehold insurance
- 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
- The tenant decided to take out leasehold insurance to cover any potential losses from unexpected lease termination.
- The new lease agreement requires the tenant to have leasehold insurance as a safeguard against abrupt contractual termination due to specific disasters.
- 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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