Business owners should protect their property and protect them against potential liability

       If a building burns, a ship sinks or a crop is destroyed by hail, the owners or parties with security interest on the building, the ship and the crops will have substantial losses.  Thus, in order to prevent economic losses the individuals or companies may purchase PROPERTY INSURANCE, which will indemnify themselves against the damages or total destruction of the property.  For instance, if a shopping center is total destroyed by fire, the owner of the building  may have  a  property insurance for the entire building while the tenants who have their own business on the building may have their own insurance in order to protect the business property and the loss of income.

        In addition, the tenant  and the owner of a commercial space may be held liable in a court of law or an administrative body, to pay damage to the other parties for actions,  omissions or damages.  This potential liability is extensive to third parties such as:  clients, suppliers, contractors and guests. For example, if a restaurant burns and as a result there are some damages on the building,  the loss could be transferred to the party that has been negligent and has caused the risk.  Therefore, the business owner and the owner of the building should take the measures to protect them against potential liabilities. If both parties have not been negligent then they will not be liable for what happened. In opposition, if they are declared blameworthy they could be sued. Thus, both parties may purchase a LIABILITY INSURANCE, which will protect them if a liability arises.

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