Commercial property insurance is a necessity for any landlord who wants to protect both their building and their own finances. There are a huge number of things that can go wrong with any property, not to mention one that is commercially owned, and as such you need to be prepared for the unexpected.
Foresight and planning ahead will save you money, hassle and heartache in the long run and investing in the right policy now will benefit you immensely in the future. Plus, as soon as you have secured your insurance, you’ll experience a great sense of relief and have plenty of time to focus on more important things, like increasing profits and the day to day running of your business.
With commercial property insurance, your building will be covered in the unfortunate event of a fire, flood or any natural disaster that is out of your control, for example a storm or an earthquake. Insurance can also cover you for equipment or technology failure, burst pipes, electric and heating problems and more.
The damage that such unexpected events could cause to your property cannot be overstated and without cover, you would have to pay for the damage yourself. Depending on how big and costly the damage is, expenses like this could potentially put you out of business or cause your company to suffer.
Insurance also covers you for burglaries, theft and any damage caused to the building upon a break in. Because you can’t be at the property 24/7 it is difficult to ensure that it is kept fully secure at all times. However, with insurance protecting you financially, you can be happy in the knowledge that it is ultimately secure whatever happens.
If you rent your property out, you may well be interested to hear that your insurance can also cover any rent you lose due to the building being unavailable because of property damage or repair. As well as this, you may be protected for any repairs or fittings that need to be done to get your property up and running again.
Depending on what sort of commercial property you own, you will be likely to need insurance that is tailored to your specific needs and requirements. Be it a flat, office space, hospital or restaurant, we can provide you with a plan that works for you. Talk to us about your specific needs and we’ll do all we can to find a deal that’s perfect for you, at a good price.