Unoccupied Commercial Property Insurance

Unoccupied Commercial Property Owners Insurance Specialists, Est. 1976 Listen to What Is Unoccupied Commercial Property Owners Insurance explained by one of our directors What Is Unoccupied Commercial Property Owners Insurance? here are some important points regarding unoccupied commercial property owners' insurance. When your commercial property becomes empty, such as in between lease, your policy will provide cover for limited perils. The insurer will also place some important conditions on the policy that you must comply with. Failure to comply with these conditions in the event of a claim may result in claims being declined or not settled in full. When your commercial property becomes unoccupied, you should check the coverage and steps to comply with the new conditions. You must also ensure that the building has an up-to-date electrical certificate, even if the building is empty and the electrics are switched off. To [...]

Unoccupied office Insurance If you are a property owner of an office. You will want to make sure you have the right policy in place that will cater for your particular requirements. If  that office becomes empty, whether it be short term or on a longer term basis, your requirements will almost certainly change. It is also important that you inform your insurer that the property is empty, as there are some important conditions that you will need to comply with to ensure your policy remains valid. Here are some important considerations to take into account. How long has the office been empty for? If it’s a short term unoccupancy and you have new tenants lined up, insurers will almost certainly want to keep you on cover. However, if it goes more long term the insurers can at worst pull cover entirely leaving you to search the market for [...]

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. [...]