Choosing commercial property insurance

If you are choosing commercial property insurance, there are things that you will need to consider.

Commercial property insurance is designed to protect property owners from the cost of claims that may arise from unexpected damage. There are many causes of damage from fires, to floods or even a break in. That’s why it’s important to be properly insured.

It differs from typical domestic insurance because commercial buildings are often a different type and are of course, used for different things. Commercial property insurance takes these differences in to consideration. Commercial property insurance typically covers the following:

Loss of rent – Useful for if there has been serious damage and the property can be used for a period of time. This is for if the property is leased out

Contents insurance – Contents could be damaged from any type of disaster and may need repairing or replacing

Accidental damage – Accidents aren’t to seek! As such, they do happen and often repairs or replacements are required for items within the property

Malicious damage – Antisocial behaviour or damage caused by tenants can be costly, which is why this is a good addition of cover to have

Legal cover – If help is needed with expensive legal fees, legal cover can help to reduce them, handy if you ever need to take a case to court

Cover when unoccupied – Perhaps between tenants or due to renovation, vacant properties can often draw unwanted attention in the form of antisocial behaviour and thieves

The above highlight some requirements for commercial property insurance when the property is leased out to a tenant, but if you’re insuring for your own use, you may choose to tailor your policy differently to the above.

ServiceMaster Restore work closely with insurance companies to restore your property following most disasters, but if that aspect isn’t covered within your policy, we are happy to take on private cases too. Contact us at / 0845 762 6828