Both the tenant, and the building owner need to be concerned about improvements and betterments. In most cases, when an insured installs improvements and betterments at their own expense, they have an insurable "use" interest in that property, and this can be covered by insurance, but legally, once they become part of the real property, they become the property of the building owner. The biggest danger here is that the building owner could suffer a coinsurance penalty (see what is coinsurance) if they have not included them in their insured building value.
Written by Clark-Mortenson Insurance
Clark-Mortenson Insurance has been providing insurance solutions to individuals and businesses since 1877. Our goal is to be the "agency of choice" by offering the highest quality service through our committed, professional staff. Clark-Mortenson sets ourselves apart from our competition by offering our clients a team of trusted advisors who work together to offer the resources, information and experience that they need to ensure their physical and financial protection.
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