If you own a parking lot, you can experience unexpected claims due to the maintenance of that area or lack thereof.
Your business’s liability insurance should cover your liability for a parking lot you own at the address listed on your insurance policy. For instance, say there is a pothole that has been on your “to do” list and a customer trips in it on his way into your building. You could be held responsible for injuries he sustains.
On the other hand, if you are renting the location and the contract between you and your landlord states that the landlord is responsible for the maintenance of the parking lot, this would likely be the landlord’s liability. Have you reviewed your rental contract to determine who is responsible should a lack of maintenance cause an injury? Finally, if you have a parking lot that does not share the same location as the address listed on your policy, add the lot’s location address to your insurance policy to avoid any issues at the time of a loss.
