Ranch Rental

[Jason F]

I have a commercial property that I will be renting out to a group that will be starting a feed/tack/horse training facility. The property is on a major highway but has always been a ranch.

Currently the property does not have an insurance policy but I would like to make sure one is in place when they are leasing and get them to pay for it.

Can I require that the tenants purchase property insurance or business insurance and list the owning LLC as 'Named Insured'.

How exactly does that work? Would it need to be property insurance or can it be insurance covering the business operations that also protects the property?

I'm looking to set up something similar to a NNN, but with them just covering insurance.

Thanks.