Certificate Of Insurance Requirements
Parkway At Oak Hill`s Rules and Regulations are contained within each Lease document. Certain leases may have additional or different Rules and Regulations more applicable to the type or location of the business. The following information is presented as general information, and is not intended to supersede more stringent policies, which may be included within actual lease documents.
Insurance Coverages
The standard contract recommended limits are outlined in the table below. These limits would apply to contractors who provide general routine and non-critical services. This would include janitors, painters, groundskeepers, snow removal services, etc.
| Coverage | Description of Coverage | Minimum Limits |
| Commercial General Liability |
Insurance to protect liability arising out of contractors operations that results in bodily injury or property damage to a 3rd Party |
$3M Per Occurrence provide additional limits |
| Auto Liability |
Insurance to protect against liability arising out of the contractor’s use of an owned , non owned or hired auto that results in bodily injury or property damage to a 3rd party |
$ 1 M Per Occurrence |
|
Workers’ Compensation & Employers Liability |
Insurance carried by contractor for injuries to their workers. If the contractor does not carrier workers compensation, Wells could be required by law to provide this coverage. |
WC - Statutory EL - $500,000 each accident, $500,000 each disease, 500,000 disease policy limit. |
| Property Insurance |
Insurance carried by contractor to insure physical loss or damage of all building materials and other equipment. |
Value of Items - No Insurance Certificate is required. Provision is to state Wells is not responsible for insuring |
Additional limits and coverages may be required for contractors involved in critical services and working in hazardous situations (i.e. electrical work, working from heights, etc.) For critical services, the minimum limit should be no less than $5 Million Per occurrence or as outlined below.
| Job Classification | Liability Limits Per Occurrence Limit | Other REquirements / Considerations |
| Electrical Contractors | $5 Million | |
| Drywall Plaster | $5 Million | |
| Plumbing / Mechanical / HVAC | $5 Million | |
| Security Guards | $5 Million | |
| Landscaping - Exterior | $5 Million | |
| Roofers | $5 Million | |
| Fire / Sprinkler Svs. / Repair Cos | $5 Million | |
|
Window Washing & Swing Station Equipment Services |
$5 Million | |
| Jobs requiring Scaffolds / Rigs | $5 Million | |
| Elevator / Escalator Contractors | $10 Million | |
| Build to Suit - General Contractor | $25- $50 Million Depends on Project Size |
|
All Certificates Shall Name Applicable Wells Entity as additional insured - CG2010 Additional Insured Endorsement or equivalent. If the work involved completed operations exposure CG2037 Additional Insured - Completed Operations should also be used.
Additional Insured Language
The following is the additional insured wording that must be listed on certificates provided by vendors/contractors.
Wells VAF - Parkway At Oak Hill, LLC
Wells Real Estate Funds, Inc., Wells Real Estate Services, LLC., Wells VAF--Parkway At Oak Hill, LLC and their affiliated and subsidiary companies, including their officers, directors, employees and applicable managing agent are named as additional insured’s.
Certificates of insurance are required from certain businesses that make deliveries to or from, provide on-site services, or perform moving activities at the Parkway at Oak Hill buildings including the following:
- All moving companies delivering furniture to your suite.
- Telecommunication vendors who will have access to building phone closets or multi-tenant equipment areas.
- Contractors who provide tenant improvement services that impact building fixtures, mechanical areas, or other equipment. In most cases, such services will be contracted through the Management Office.
The Landlord may require, at its discretion, that a Certificate of Insurance be required in other specific instances. The Insurance Certificate Instructions outlines insurance requirements and can be forwarded to vendors' insurance providers when requesting a certificate of insurance.
Standard lease terms provide that each Tenant shall be liable to the Landlord for the acts of its guest and invitees. Therefore, all Tenants should be aware of the potential for liability when considering the selection of vendors and their internal policies with respect to the collection of Certificates of Insurance. In other words, if damage or other liability is caused to the Landlord as a result of a vendor providing services to a Tenant, the Landlord will hold the Tenant responsible. It is to every Tenant’s advantage to ensure that they are adequately protected by the vendors they have selected to serve them. Keep in mind that the Management Office may already have certificates from many businesses on file. Upon request, we will be happy to check our records to determine if one or more of your preferred vendors already have an insurance certificate on file with the Building.