Unoccupied Commercial Property Insurance

Get expert information about Unoccupied Commercial Property Insurance from the insurance team at Property Insurance Centre. Get your questions answered about Unoccupied Commercial Property Insurance.

2 06, 2021

Increase in unoccupied commercial properties due to Covid-19


Increase in unoccupied commercial properties due to Covid-19 Many businesses in the UK and around the world have remained closed due to government directives and restrictions imposed following the COVID-19 lockdown, leaving large numbers of businesses and commercial buildings vacant. Whether temporary or permanent, unoccupied buildings are more vulnerable to water leaks, arson, vandalism and theft. Even after businesses reopened, many employees and businesses continued to work from home. This also results in commercial buildings being unoccupied. If your commercial buildings remain closed, you must respect the vacancy conditions of your insurance policy. The wording of your policy should contain the specific requirements set out by your insurance. Most policies state that you will not be covered if you violate these conditions. According to Retail Gazette magazine in one of its articles: “With the UK going in and out of lockdown since March of last year, thousands of stores [...]

Increase in unoccupied commercial properties due to Covid-192021-06-02T08:29:11+00:00
1 03, 2021

What is unoccupied commercial property insurance?


What is unoccupied commercial property insurance? Jackie De Burca So, Robert, for those of us who need an introduction about unoccupied commercial property insurance, can you explain please? Robert Fisher Certainly. So, unoccupied commercial property insurance- basically, it is what it says on the tin, I suppose, but there are a few key elements to it that differ slightly from an occupied commercial property insurance product. The main ones being that, firstly, the cover is less, and normally the premium is more. So, that's the main essential part to an unoccupied product. When I say the cover is less, you have all of your standard perils or causations. For example, fire and flood, malicious damage, storm, whatever it may be- theft, all the usuals. So you have those on a normal policy, but for an unoccupied commercial policy, your coverage is limited to fire, lightning, earthquake and explosion only. [...]

What is unoccupied commercial property insurance?2021-03-01T13:47:50+00:00
29 10, 2019

Do I need Unoccupied Property Insurance?


Do I need Unoccupied Property Insurance? Who needs unoccupied property insurance and why would I need it? Do you travel for business and are away for long periods of time?  Have you a building which you haven’t managed to let and it is sitting vacant?  Has your tenant just moved out of your flat or house?  Has your relative become in need of nursing or residential care and isn’t likely to be home for some time? There are many reasons a property can become unoccupied – but if you answered ‘yes’ to any of the questions above, you need to take a look at your current insurance policy and see if you need to replace it or add unoccupied property insurance to it. What is unoccupied property insurance? Insurance companies think that occupied properties are less risky.  Someone is there most days checking that nothing bad is happening, like [...]

Do I need Unoccupied Property Insurance?2021-03-01T14:47:45+00:00
29 06, 2019

Insuring an unoccupied house


Insuring an unoccupied house Unoccupied House Insurance is different! Some people think that no insurance is required for an unoccupied house that they may rent out or they take out home insurance cover and don’t consider whether there home is actually regarded as occupied or not. Well it should be considered that unoccupied properties are regarded as 'high risk' by insurers. That is why they tend to charge higher premiums to keep them covered. It is also why they may add in extra conditions to keep the property covered. By adding extra conditions, what the insurance companies are trying to do, is reduce that extra risk. It is therefore essential that you have the right cover in place. Top Tip - If you have a policy in place already, tell your insurers or insurance broker that the property is now empty and your existing policy should be able to [...]

Insuring an unoccupied house2020-05-15T14:46:08+00:00
29 06, 2019

What Types of Property Insurance Are Available?


What Types of Property Insurance Are Available? Although property insurance in the UK is not mandatory, it is a requirement of interested parties such as banks or anyone who lends you money secured on your property.  Also, if you rent out your commercial or residential property your tenant will assume that you have adequate insurance cover in place for the buildings. There are lots of different types of property insurance available, everything from common home insurance policies to bespoke portfolio packages for landlords with a variety of commercial buildings. Get a Quote Insurance under one roof We are specialists in many types of insurance At Property Insurance Centre we specialise in commercial insurance policies but do cater for home insurance policies through our offices in Northern Ireland [...]

What Types of Property Insurance Are Available?2020-05-12T13:24:14+00:00
29 06, 2019

Property Insurance Specialists


Property Insurance Specialists What type of Property Insurance do I need? Property Insurance is an insurance required for everyone who owns a building whether it is your home or business and will offer cover for the cost of rebuilding if damaged by an insured peril such as Fire or Storm.  In addition property insurance policies will offer public liability insurance to protect you from compensation claims should anyone be injured on your premises. Can I claim my property insurance against my tax? You can claim property insurance against your income tax as it is an expense for your business.  Always make sure that you get a receipt when it comes to making a claim against your income tax. Get a Quote Insurance under one roof We are specialists in many types of insurance [...]

Property Insurance Specialists2021-03-10T12:29:02+00:00
29 06, 2019

Empty House Insurance


Empty House Insurance Property Insurance Centre are one of the leading insurance providers for Unoccupied House Insurance in the UK & Northern Ireland.  Standard home insurance policies only cover your home if it is empty for no more than 30 consecutive days at a time. Cover can provide: Property Owners Liability Fire Cover Option to increase to wider perils What does unoccupied mean for home insurance? Your home is considered empty or unoccupied if your property is empty for more than 30 days (a few insurance companies will go to 60 days) in which case your existing home insurance will reduce the types of cover that are offered.  There are lots of reasons that your home can become unoccupied, the most common is during renovations and it is important that you notify your insurance provider on what refurbishments are happening and an estimate on the cost of the works.  [...]

Empty House Insurance2020-05-16T11:26:06+00:00
28 06, 2019

Unoccupied Property Insurance


Unoccupied Property Insurance As one of the leading commercial and residential insurance brokers in the UK we are pleased to offer some of the best cover and rates on Unoccupied Property Insurance. We are one of the few companies to offer extended perils on cover of up to 90 days on inoccupancy (only if your intention is to let the property) which is per perfect for the many reasons that your home is unoccupied such as: Builders are in your home carrying out renovations or refurbishment and it is uninhabitable during the works. Long holiday (over 30 days for standard home insurance policies). Working abroad. Admitted to hospital for a long period or respite care. Admitted to a nursing home for a longer period. Away from your home because you work for the Army or other Military body. In between tenants if you let your home out. Get a [...]

Unoccupied Property Insurance2020-11-16T10:52:26+00:00
28 06, 2019

When Do I need Unoccupied Commercial Property Insurance


When Do I need Unoccupied Commercial Property Insurance When Do I need Unoccupied Commercial Property Insurance? It is required by Commercial Property Owners in which the previous tenant has moved out or you are selling or have a vacant commercial premises.  It is standard that you will get standard peril cover (Fire, Lightening, Earthquake and Aircraft). In addition to FLEA cover you are also covered for public or 3rd party liability giving you peace of mind and confidence that you are protected against injury or property damage claims. With unoccupied home insurance your current insurance provider will not offer the same terms of cover and protection if your premises are empty and you must always notify your insurance provider if your home or business becomes empty. Get a Quote Insurance under one roof We are specialists in many types of insurance [...]

When Do I need Unoccupied Commercial Property Insurance2020-05-16T16:10:05+00:00
14 09, 2018

Increased Peril Cover on Unoccupied Residential Insurance for Mr Crawford


We were delighted to offer Mr Crawford a gold package of cover for his unoccupied residential building insurance policy which entitles him to increased peril cover for only £220.63. Our Gold package on unoccupied residential insurance covers the following with regards to the buildings: Fire Lightning Explosion Earthquake Smoke Storm Flood Weight of Snow Escape of water from any interior fixed heating or domestic water installation, washing machine, dishwasher, refrigerator, or freezer Escape of oil from any interior fixed heating or domestic water installation, washing machine, dishwasher, refrigerator, or freezer Freezing or forcible or violent bursting to any fixed heating or domestic water installation at the Residence. Theft or attempted theft involving forcible and violent entry or exit Riot, strike, labour or political distribution or civil commotion Malicious persons Subsidence or heave of the site upon which the buildings stand or landslip Collision involving aircraft, aerial devices or anything dropped [...]

Increased Peril Cover on Unoccupied Residential Insurance for Mr Crawford2020-05-21T15:24:42+00:00
9 07, 2016

Why should I buy Insurance for an Unoccupied Property?


Why should I buy Insurance for an Unoccupied Property? This may seem like a no brainer , but many people think that an unoccupied property attracts less risk than an unoccupied one and that insuring this type of property is a ’ waste of money’. This is most definitetly not the case and if insurance is needed , it is nowhere near as important than that for an unoccupied property. The evidence shows that these category of property are more likely to face larger claims than any other type and for in greater frequency. They are often a magnetic for anti social behaviour and the effects thereoff. In most cases cover will be restricted to Fire, Lightning , Explosion & Aircraft (FLEA) and property owners liability. In the case of a fire which will not be discovered early this cover is crucial in putting the property back to a [...]

Why should I buy Insurance for an Unoccupied Property?2021-01-15T11:36:41+00:00
8 04, 2015

Winter weather – What should you do?


Escape of Water When temperatures start to fall, there are a few simple precautions that can be taken to ensure the continued well-being of your home, tenanted property or any other property that you own. One of the largest dangers to your home in periods of plummeting temperatures is that of burst water pipes. This happens when the water freezes within the pipe, expands thus damaging it, causing an escape when the water thaws. You should take the following steps to ensure that your property and its contents are not seriously damaged due to an escape of water: Ensure that your tanks and water tanks are well lagged. Unlagged pipes are far more likely to freeze in sub-zero temperatures. Insulation materials and lagging are relatively inexpensive and will frequently cost less than the policy excess charged by the insurer in the event of a claim. If the property is [...]

Winter weather – What should you do?2021-01-15T13:41:07+00:00
8 04, 2015

Know your obligations when insuring your empty property


Know your obligations when insuring your empty property There could be any number of reasons why you have an empty property: you are a landlord who has just bought a new investment property and you are waiting for tenants; you are a landlord or homeowner who is carrying out extensive renovations; you are an owner-occupier whose home will be uninhabited for a period of typically more than 30-45 consecutive days, while you are on an extended holiday, working abroad or another reason; you have inherited a probate property or are going through a divorce and waiting for the marital home to be sold… Whatever the reason why your commercial or residential property is empty, it is important that you: understand the need for specialist unoccupied property insurance in order to protect your investment; are aware of – and adhere to – any obligations under the policy cover. Get a Quote [...]

Know your obligations when insuring your empty property2021-01-15T13:47:21+00:00