Betterment Insurance


DEFINITION of 'Betterment Insurance'

Betterment insurance refers to insurance coverage that a tenant in a rental property carries to cover any additions or modifications to the leased space that are made to fit his or her, or a business's, particular needs. The property owner typically holds an insurance policy to cover the structure; the tenant procures a policy to cover any improvements made to the property.

BREAKING DOWN 'Betterment Insurance'

Betterment insurance policies cover improvements made by a tenant to a rented property, and most often refer to commercial properties. For example, a company may rent a commercial property to house its offices. The property owner holds an insurance policy on the structure. The company renting the building purchases a betterment insurance policy to protect any improvements or additions to the property, including shelving, equipment, desks, computers, etc.

  1. Commercial Property

    Real estate property that is used for business activities. Commercial ...
  2. Betterment

    A type of action or cost expenditure that contributes towards ...
  3. Lease

    A legal document outlining the terms under which one party agrees ...
  4. Capital Improvement

    The addition of a permanent structural improvement or the restoration ...
  5. Homeowners Insurance

    A form of property insurance designed to protect an individual's ...
  6. Indemnity

    Indemnity is compensation for damages or loss. Indemnity in the ...
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