Motion Picture Theater Management (1927)

INSURANCE 225 LEASEHOLD Leasehold Insurance is intended to cover the increase of rent in the event it is necessary to lease other premises at a higher rate, because the occupied accommodations are damaged sufficiently to cause the existing lease to be canceled. Such possibilities are very remote, and protection may be provided in the fire clause of the lease at the time of rental. RENTAL INCOME Insurance Against the Loss of Rental Income may be obtained. It is known as Rent and RentalValue Insurance. Some theater operations receive sub-rentals from stores and offices and depend upon the income to help meet fixed charges; therefore protection against the loss of this income is sought. water damage Insurance Against Water Damage provides protection against losses because of the bursting of water or steam pipes, of a leaky roof, and of every other damage caused by water, except that which is caused by water used to extinguish fires. The last is covered by fire insurance. Damage resultant from the breakage of sprinkler systems is covered under the sprinkler leakage policy : SPRINKLER LEAKAGE Sprinkler Leakage Insurance covers loss caused by breakage of the sprinkler system, such as the bursting of risers, sprinkler heads discharging, or being knocked off, the collapse of roof tanks, etc. PLATE GLASS Plate Glass Insurance is an agreement to replace all glass that may be broken, and theaters should carry such coverage where plate glass runs into any material value. Insurance is not confined to streetfront plate glass, but includes frames, furniture tops, door panels, skylights, etc. Premiums