A prospective tenant wants me to have $2M / $4M General Liability Insurance and they only want to provide $1M / $2M. Is there a reason for this on a one year lease agreement that can be renewed annually? (They are a public university.)
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You must be kidding — operating $ millions and not engaging a lawyer to deliver you answers they would be responsible for, and instead asking random people on the Internet. – Greendrake May 12 '20 at 08:19
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2@Greendrake these are actually quite low insurance limits -$20 million is far more typical for commercial policies. – Dale M May 12 '20 at 08:31
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1@Greendrake It is totally valid and smart for the OP to do his own research prior to, or in lieu of, wasting his money on attorneys. In general, a lawyer does not really educate his clients on the legal aspects of their inquiries. Furthermore, it is obvious that the numbers the OP mentions refer to insurance benefits, not the premium – Iñaki Viggers May 12 '20 at 11:10
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@DaleM The leased space is less than 2000 square feet. But why would they suggest different limits on General Liability limits for insurance. – Lee Sam May 12 '20 at 12:24