What is Commercial Building Insurance?
Commercial building insurance or commercial property insurance is a specific insurance policy underwritten to protect any premises that is used for commercial purposes.
It don’t matter what type of premises you need to cover, whether it be a shop, office or even a factory, commercial premises insurance can cover it all.
What is covered by commercial property insurance?
A policy that is designed just to protect the building itself will have cover for things such as the physical structure including:
- the brick work
- curtains or blinds
- sinks and other plumbed in items
Buildings insurance will not cover things such as furniture or any other removable items.
Can a policy cover more than just the physical structure?
In short, yes, insurance for a commercial building can be tailored to cover a wide range of additional aspects.
You may wish to include some of the following aspects to your policy.
Commercial contents cover
Commercial contents cover is designed to cover everything not associated with the building. This will include items such as:
- Office furniture
- Computing equipment
- Kitchen equipment
- Stationary & office supplies
- Manufacturing equipment (subject to contract)
- Tools (subject to contract)
If you run a shop or warehouse of any kind, then stock cover is essential. Stock is not typically covered under contents insurance as it is frequently changing in both quantity and value.
Stock cover does exactly what it says, it will cover anything and everything that you store or sell.
Combined Insurance Policies
Combined insurance policies are quite common as they are a good way to save money and reduce the number of individual insurance policies.
A combined commercial property insurance can include things such as:
- Employers liability
- Professional indemnity
- Public liability
- Anything else you wish to be added
Landlord based policies
It’s quite common that those looking to insure their commercial property are actually just the building owner and not the sitting tenant.
If you don’t occupy the property, then you may wish to consider insurance for commercial landlords. This will take into account aspect such as loss of rent and much more.
Can I get cheap commercial property insurance?
Your ability to gain a cheap policy will be decided by what sort or commercial building you wish to cover and its size.
Your previous claims history will also have an effect. The best thing to do is to look at exactly what you need to insure and then talk to one of our advisors who will connect you with a specialist commercial buildings insurance broker.