Lessee

What Does Lessee Mean?

A lessee is an individual, company, or group that rents property from another party.

In the context of insurance, lessees often purchase renter’s insurance to protect their belongings and provide liability coverage while renting the property.

Insuranceopedia Explains Lessee

While lessees typically purchase renter’s insurance to protect their personal belongings, landlords and property owners are generally responsible for insuring the building or land itself. Therefore, it is essential for landlords to have their own insurance policies. Without such coverage, they may have to bear the full cost of damages caused by tenants, such as accidental fires or other incidents.