What Is Terrorism Insurance?
Because of the huge losses suffered by landlords in the terrorist attack of September 11, 2001, insurance companies decided to exclude the coverage for losses caused by terrorist events. However, Congress insisted landlords have access to the terrorism risk insurance by paying a reasonable insurance fee. As a landlord, you have the right to buy a terrorism risk insurance. If you choose to do so, the damage caused by a terrorist event shall be covered by the terrorism risk insurance. For more details, please search the U.S. Department of Treasury website for "Terrorism Risk Insurance".