Legal Question in Insurance Law in New Mexico

Hi - we rent out a building to automotive shop. the building burned. but the tenant has insurance,to cover the building but we as the landlords were not on the insurance. although our contract states that the tentant has to have fire insurance for the building. the insurance company is refusing to pay because he did not list us on the insurance. Is this legal?


Asked on 3/03/11, 3:06 pm

1 Answer from Attorneys
Charles Aspinwall Charles S. Aspinwall, J.D., LLC

Yes, it is legal for the insurance company, but not for your tenant. S/he is bound by the terms of your contract, and if the insurance term was violated, your recourse is against the tenant, not the insurance company in this instance. Next time have a clause in your contract which requires the tenant to furnish you with a copy of the policy showing you as additional insureds.

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Answered on 3/08/11, 11:30 am


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