An Absolute Net Lease is a highly exhaustive type of Triple-Net Lease in which tenants bear almost all property-related expenses.
A Certificate of Insurance (COI) is a document that verifies the existence of insurance coverage, including details about the type and extent of coverage provided. It serves as proof of insurance for the insured party, typically issued by the insurance company or broker.
Flood insurance is an insurance policy that covers property damage specifically due to natural flooding. Although offered by private insurers, it is largely subsidized by the federal government.
A form of insurance that provides protection against specific perils such as fires, storms, or other hazards, though it does not cover flood damage. It is often required by mortgage lenders to protect their financial interest in the property.
An insurance binder is a temporary document provided by an insurance company that serves as proof of insurance coverage until a formal policy is issued.
Insurance coverage refers to the total amount and type of insurance a property owner maintains to protect against various risks, including hazards, liability, and other potential losses.
