What Is Commercial Property Insurance?
Commercial property insurance is a specialist form of cover for commercial landlords. Tailored policy offer protection for an array of business properties let to commercial tenants from office blocks, retail premises, industrial or factory units.
Commercial Buildings Insurance – What Do I Need?
The core cover provides reinstatement of the building itself following an insured peril such as a fire, theft or flood.
As well as property cover, policies can be extended to cover legal liabilities as a commercial landlord such as property owners liability or employers liability should you employ the services of maintenance or property management staff.
Other recommended extensions include loss of rent (following an insured loss), terrorism and legal expenses.
As well as property cover, policies can be extended to cover legal liabilities as a commercial landlord such as property owners liability or employers liability should you employ the services of maintenance or property management staff.
Other recommended extensions include loss of rent (following an insured loss), terrorism and legal expenses.
Compare Commercial Property Insurance Online
As a specialist property insurance broker Insync has access to a panel of the UK’s leading commercial property insurers including AXA, Allianz, Ageas, Aviva, LV= and Zurich. You can compare tailored cover online in minutes, either for a single property or multiple risk addresses.
Alternatively, why not arrange a free review with one of our property insurance advisors who can help you find the right level of cover at the right price.
Alternatively, why not arrange a free review with one of our property insurance advisors who can help you find the right level of cover at the right price.
Commercial Landlords Let Property Extended Covers
In addition to the commercial buildings, you may require cover for any landlords contents, such as in communal, reception areas or provision of meeting rooms as well as any items in gardens or car parks. Property owners’ liability, terrorism, loss of rent and legal expenses should also be considered.
Need Specialist Commercial Property Insurance?
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Commercial Property Claims Example
Tenant reported a 10 fold rise in their water bill. On further investigation it was discovered that the underground services to the property had been damaged.
Insurers engaged specialist contractors who needed to replace 30 metres of pipe, digging across the property car park. Total claims costs in excess of £35,000.
Insurers engaged specialist contractors who needed to replace 30 metres of pipe, digging across the property car park. Total claims costs in excess of £35,000.
How Much Should I Insure My Commercial Property For?
The buildings sum insured for business premises should be based on the reinstatement / rebuilding cost of the property. This will depend on the construction method used, location and access to the property.
All of these variables can be difficult to calculate and you should seek the services of a professional valuation surveyor, suitably qualified by the Royal Institute of Chartered Surveyors (RICS).
All of these variables can be difficult to calculate and you should seek the services of a professional valuation surveyor, suitably qualified by the Royal Institute of Chartered Surveyors (RICS).
Insync Insurance Solutions Ltd
9 Albany Park, Cabot Lane
Poole, Dorset BH17 7BX
t. 0330 1240730
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9 Albany Park, Cabot Lane
Poole, Dorset BH17 7BX
t. 0330 1240730
e. This email address is being protected from spambots. You need JavaScript enabled to view it.
© Insync Insurance Solutions Ltd 2018 All rights reserved. Insync Insurance Solutions Ltd is authorised & regulated by the Financial Conduct Authority where our reference number is 766691. Our registered office is Midland House, 2 Poole Road, Bournemouth, Dorset BH2 5QY and we are registered in England under company number 08810662. Should you have cause to complain, and you are not satisfied with our response to your complaint, you may be able to refer it to the Financial Ombudsman Service, which can be contacted as follows: The Financial Ombudsman Service Exchange Tower, London, E14 9SR | Tel: 0800 023 4567 or 0300 123 9 123 | www.financial-ombudsman.org.uk | Terms Of Business