Who Needs Vacant Commercial Property Insurance?
If you own a commercial building like a shop or warehouse, it’s important that you have the right insurance in place. If your building is left vacant for more than 30 days at a time, then a standard Commercial Buildings Insurance Policy will not be adequate and a specialist Unoccupied Commercial Buildings Insurance Policy will need to be taken out. This is because empty properties are seen to be at a higher risk of accidental damage, theft and vandalism than a occupied property would be.
What Cover Does Empty Commercial Property Insurance Provide?
Insurers deem unoccupied properties to be a higher risk than a regular property and should have a specialised policy to reflect that. Unoccupied Commercial Buildings are more likely to attract unwanted visitors whether this be because it is an easy target to vandalise without getting caught or even because they are curious and unaware of the danger that they can pose. If properties are not checked thoroughly enough small damages could be missed and left to get worse and if there was a fire or flash flood it can take longer for someone to notice and alert the authorities.
No two properties are the same or are left unattended for the same reasons. Therefore we offer varying levels of cover to suit our individual clients needs. Typically, cover can be arranged for:
- Protection against vandalism including graffiti
- Cover for damage caused by flooding, fire or subsidence
- Contents cover up to £20,000
- Theft from secured garages and outbuildings up to £500
- Property owners liability, if your conservatory roof blows off and damages your neighbours property for example
Securing your Property
When taking out Insurance for Unoccupied Commercial Property, Insurers may require you to secure your property over and above what you would regularly do. This can include locking all windows and doors with approved locks and having a burglar alarm fitted. Removing all valuables and tools from the building including petty cash you may leave in a safe. Leaving safes open and empty, turning off the mains and draining the water systems. Regular checks of the building should also take place.
Why Choose Unoccupied Commercial Property Insurance with PIC?
Due to the high potential risks that Unoccupied Commercial Property can face, it is important to work with a broker that has experience and knowledge of working with these risks. Being a Property Insurance Specialists we can tailor a policy to suit your exact needs so that you have the peace of mind that your building is protected.
As a specialist insurance broker, we strive to give our clients the best service with:
- Easy to contact staff both online and over the phone
- Access to a wide panel of insurers to source the right insurance cover for your business.
- Nearly 40 years experience working with the best insurers in the UK.
- A wide choice of policies and levels of cover – so that you are never over or under insured, neither are you spending money on covers you don’t need.
- The ability, as professional insurance brokers, to get this type of ‘hard to place risks’ on cover with reputable insurers.
- Excellent communication so that you understand what risks you are insured against.
Call us on 0800 085 3761 or contact us here to get a range of Unoccupied Commercial Property Insurance Quotes.