You obviously don't know much about insurance. But, after discussing the issue for some time, Reyer's Realty, LTD, finally agreed to give the new agent the shopping center insurance if she did not need to insure the improvements and betterments. This form can be attached to any ISO form that covers property. The form has space into which can be typed the description of property that is to be excluded from coverage. Lease does not change coverage Premises leases are usually silent regarding the issue of who is responsible for damage to improvements and betterments.
Leases can state that a tenant is responsible for damage to improvements and betterments.
Sometimes, a lease will state that the landlord is responsible for damage to improvements and betterments. Regardless of what the lease says or does not say in regard to improvements and betterments, unless endorsed off of the policy, the landlord's building insurance will always cover and include the value of improvements and betterments. A different shopping center, Hillside, Inc., stated in its lease that Hillside, Inc., would respond for damage to improvements and betterments. Hillside, Inc.'s, building insurance values had to reflect the total value of all of the improvements and betterments installed by all of its tenants. Summary Improvements and betterments values should be included in the amount of insurance purchased by a tenant.