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Lessor's Risk Only (LRO) Insurance Quotes in Florida
Published October 25, 2026
Call or text 813-302-7151
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813-302-7151
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We serve clients across Florida and work with multiple insurance carriers to help individuals, families, and business owners compare coverage options that fit their state and industry requirements.
We serve clients across Florida and work with multiple insurance carriers to help individuals, families, and business owners compare coverage options that fit their state and industry requirements.
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We quote lessor’s risk only insurance for Florida owners who lease a building or a rental home to someone else and only want the liability. It covers claims from people hurt on property you own but don’t occupy, and it sits alongside the tenant’s own policy.
Call or text 813-302-7151, or send a request anytime. Most quotes come back within 24 to 48 hours. The insurance company decides eligibility and price after underwriting.
Liability for owners who lease the property out
Someone else may run the business in your building, but you can still be named in a lawsuit when a customer gets hurt on the property. Lessor’s risk only, often shortened to LRO, is liability coverage for that exposure. Depending on the policy’s terms, exclusions and limits, it may pay for legal defense and covered settlements or judgments.
LRO is meant for claims like a visitor tripping on a cracked sidewalk at your strip center. A delivery driver who falls on a loose stair at your warehouse is another example. It doesn’t cover every risk that comes with owning a building. Damage to the building, the tenant’s property, injuries to your own employees and any business you run yourself may need other policies or endorsements.
Your tenant carries their own liability policy and insures their own contents, equipment and inventory. That policy is written around the tenant’s business. An LRO policy is written around you as the owner. You keep your own coverage in place even if the tenant’s policy lapses or doesn’t respond to a claim. There’s no fee for a quote, because the insurance company pays our commission.
Who lessor’s risk only insurance fits
LRO is for owners who lease the whole property to others and don’t run a business there themselves. We quote it for owners of:
- Retail strips and shopping plazas
- Office buildings
- Warehouses
- Single-tenant commercial buildings
- Rental homes leased to long-term tenants
Carriers may look at what each tenant does when they decide whether to accept the building and how to price it. List every tenant when you send your details, even a small one in an end unit, and tell us when a new tenant moves in during the policy term. If you own several properties, send every address you want quoted in the same request.
If you or your own company use part of the building, tell us. An owner who also operates in the space may need general liability insurance for that business, and we can quote both.
What lessor’s risk insurance costs in Florida
In real quotes our agency has run for Florida property owners, lessor’s risk liability has ranged from $500 to $3,900 a year (about $42 to $325 a month), mostly at $1,000,000 per occurrence and $2,000,000 aggregate. By type of property, the annual ranges look like this:
- Rental homes: $500 to $2,300
- Commercial buildings leased to tenants: $500 to $7,100
- Vacant buildings or land: $500 to $4,500
Each property type is a separate group of quotes, so some of these go higher than the overall range. Your real price depends on the type and size of the building, what your tenants do, the limits you pick and your claims history. The insurance company sets the final price. See more building owner price ranges in our Florida commercial insurance cost guide.
Liability only, or add the building?
LRO covers liability only. It doesn’t pay to repair the building after a fire, a windstorm or other damage. You can buy the liability alone, or package it with property coverage on the building. If you have a mortgage, your lender may require the building to be insured, so check your loan papers before you choose. With the building and the liability packaged together, the renewal date and the proof of coverage your lender sees come from one policy. We quote building coverage through our commercial insurance options.
Flood is a separate policy for the building. Under the NFIP, a commercial building can be insured up to $500,000 and its contents up to $500,000, and we also quote private flood. See our page on commercial flood insurance for building owners who lease to tenants.
If you are replacing an NFIP flood policy with a private flood policy, you could lose a discounted (subsidized) NFIP rate and may pay a higher full-risk rate if you go back to the NFIP later. Before we place a private flood policy, we will ask you to sign a notice that explains this (s. 627.715, Florida Statutes).
What your lease should ask of the tenant
Your lease can ask the tenant to carry their own liability policy, to name you as an additional insured and to give you a current certificate of insurance. Ask for a new certificate each time the tenant’s policy renews, so you know it’s still in force. If you’re unsure what the terms mean, our guide to certificate holder vs. additional insured explains the difference.
Being listed as an additional insured can give you some protection under the tenant’s policy, within that policy’s terms. It doesn’t replace your own LRO policy. Our guide on certificates of insurance and contract requirements covers what to look for when a tenant sends one. Send us the certificates your tenants give you, and we can help you read them when we quote. If a certificate shows a policy that has expired, or limits lower than the lease asks for, raise it with the tenant right away. A lease may also say who insures the building and who pays for repairs, so send it with your request and we’ll quote to what it says.
Common limits for lessor’s risk policies
Most of our LRO quotes are written at $1,000,000 per occurrence and $2,000,000 aggregate. Per occurrence is the most the policy pays for one claim. The aggregate is the most it pays for all claims during the policy period.
Some leases and lenders name the limits they want, so check yours before you ask for a quote. If you want more than the policy limits, an umbrella policy may add coverage on top. An umbrella generally pays after the LRO limit is used up, depending on its own terms and exclusions. Tell us what your lease or lender asks for, and we’ll quote to it. Higher limits cost more, so we can show the price at each limit you’re weighing.
Vacant buildings and land
An empty building or a vacant lot is quoted on a separate vacant policy. Empty property can still bring a liability claim, for example from someone hurt while cutting across the lot. In our quotes, vacant buildings or land have run $500 to $4,500 a year. Tell us how long the property has been empty, whether you plan to lease it, sell it or build on it, and whether anyone uses the land. When a tenant signs a lease, call us so we can quote a lessor’s risk policy for the occupied building.
Rental homes: liability only or a landlord policy?
For a house rented to a long-term tenant, you have two choices. LRO covers your liability only. A landlord policy that covers the house, the DP-3, also covers the building itself along with your liability.
In our quotes, liability only for rental homes has run $500 to $2,300 a year. If the home has a mortgage, your lender may require the house to be insured, which points to a landlord policy. If the house is paid off and you only want the liability, LRO may be the simpler fit. We quote both, so you can compare them side by side. Our landlord page also covers homes sitting vacant between tenants and Citizens dwelling policies for rentals that private carriers won’t take.
What to have ready for a lessor’s risk quote
Send what you have. We’ll ask for anything else a carrier needs.
- Property address
- Building type, size in square feet and number of stories
- What each tenant’s business does
- Copies of the leases
- Your current policy declarations page
- Any claims in the past few years
- Lender name, if the property has a mortgage
- The limits your leases or lender ask for
How getting a quote works
- Send your details. Call or text 813-302-7151, 7 days a week from 8am to 9pm, or send the quote form anytime.
- We compare the carriers available to us. We quote the limits your lease or lender asks for and show you the price for each option.
- You pick, and we set it up. We set the start date and send proof of coverage to your lender if you have one.
Buying a building? Send the closing date and the lender’s details, and we’ll set the policy to start at closing. If you’re switching from another policy, keep the old one in force until the new one starts. You cancel your old policy yourself.
We help in English and Spanish, and we have an Arabic-speaking team member.
Areas we serve
We write lessor’s risk policies for property owners throughout Florida from our office in Zephyrhills. Most of our clients are in Tampa Bay, across Hillsborough, Pasco, Pinellas and Polk counties. See our service areas, including Tampa, Brandon, Plant City and Lakeland.
Related coverage and guides
What is lessor's risk only insurance?
It’s liability coverage for owners who lease a building or rental home to someone else and don’t occupy it. It may respond to claims from people hurt on the property, such as a customer who falls in the parking lot. It doesn’t cover the building itself or the tenant’s business.
Do I need it if my tenant already has insurance?
Usually, yes. Your tenant’s policy is written for their business, and you can still be named in a claim as the owner. Being an additional insured on their policy can help, but that depends on the policy’s terms and on the tenant keeping it in force. An LRO policy covers you under your own policy.
Does lessor's risk only cover the building itself?
No. LRO is liability only. To cover the building against fire, wind and other damage, you need property coverage, either packaged with the liability or on its own policy. For a rental home, a landlord policy (DP-3) covers the house and your liability together.
How much is lessor's risk only insurance in Florida?
In our quotes, it has run $500 to $3,900 a year, about $42 to $325 a month, mostly at $1,000,000 per occurrence and $2,000,000 aggregate. Rental homes ran $500 to $2,300, commercial buildings leased to tenants $500 to $7,100 and vacant buildings or land $500 to $4,500.
Can I get liability only on a rental home?
Yes. In our quotes, lessor’s risk for rental homes has run $500 to $2,300 a year. If you have a mortgage, your lender may require the house to be insured, and a landlord policy may fit better. We quote both for long-term rentals.
Do you insure vacant buildings and land?
Yes. Vacant buildings and land are quoted on separate vacant policies. In our quotes they have run $500 to $4,500 a year. Tell us how long the property has been empty and what you plan to do with it, and we’ll quote it.
About the Author
Raymundo Guzman
I’m Raymundo Guzman, an independent insurance agent and the owner of Covered by Guzman. I help business owners across Tampa Bay and central Florida find commercial auto, general liability, workers’ compensation, and related business coverage that matches how they actually operate, comparing options across the carriers available to me rather than selling one company’s product.
Independent Insurance Agent · License #W512374 | NPN #18906048 · 813-302-7151
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Own a building someone else uses? Get a liability quote.
Send the address, what the tenant does and a copy of the lease, and we’ll quote the liability. If you want the building covered too, say so and we’ll quote both.
