What is next for the High Street?
The High Street has been in decline for over a number of years, and 2020 has thrown another spanner in the works. If it was not bad enough, the coronavirus pandemic has dealt another huge blow to all high street traders. With many staff still on furlough, many small businesses have been forced to close and who is to say that they will ever feel there is the right environment to return. Even when the furlough scheme eventually finishes, what guarantees do employers have that their staff will want to return? This places high street traders under huge uncertainty and may be the final nail in the coffin for some traders.
This as we all know now and has been said many times before, will have a huge knock on affect to our economy. Many business have shut already as financial help came a little too late to save them. Those that are hanging on, may well be unable to cope with any further economic impact as a direct result of further lockdown measures, in anticipation of a second coronavirus waive. In short, many high street shops in a worst case scenario will shut for good! This leaves more empty shops & premises than ever before. With the property market being under such a serious threat, the prospect of long term empty buildings will be the net effect. It is times like these that the right insurance policy should be in place for unoccupied buildings. Landlords should check their existing insurance policy and make sure that they are covered for unoccupied commercial insurance under their current policy. They can be covered for:
- Public Liability up to £5,000,000 or £2,000,000 as minimum.
- Fire Cover.
- Impact of third party vehicle (optional to add but recommended).
- Lightning, Earthquake or Aircraft cover and other falling devices.
This is the level of cover that most insurers will offer once properties on the high street become empty.
Top Tip – Do not assume that your insurer knows that the building you are responsible for insuring has become unoccupied – you must tell them. Despite media briefings and forced closures by Government, some business may be able to trade under limited capacity. Some landlords have been caught out by this, and have had quite the shock when their storm claim had been turned down due to the property being unoccupied. The rule of thumb is, any change tell your insurer. At least you know exactly where you stand!
Plan in advance
The insurance industry is adapting just like everyone else to the prospect of forced closures. Whereas before pre pandemic many unoccupancy periods had a standard set limit of 30 days, many insurers are adapting their open policy wording to cater for 60 days and in some case 90 days. This may well be on a temporary basis, but this is just some of the benefits Property Insurance Centre are providing to their commercial property owners when empty property insurance cover is required. Give us a call on 0208 651 3131 or 0800 085 3761 – hopefully the worst is behind us, but now is the time to check your insurance policy carefully. The last thing you need is to be searching around for a policy in another lockdown, due your current policy not quite making the grade!
Why choose the Property Insurance Centre
Independent advice by approachable staff online or by phone
Access to a wide range of insurers to source suitable insurance cover for your needs
Bespoke Insurance Schemes & Portfolio Policies available
We can tailor your policy to suit your exact needs to give you complete peace of mind
Competitive Premiums
Cover available for the buildings while the property is being converted, renovated or extended
Over 40 years experience working with the best insurers in the UK
Excellent communication so that you understand what risks you are insured against
Why choose the Property Insurance Centre
Independent broker with staff you can speak to by phone or online
Access to a wide range of insurers to source suitable insurance cover for your needs
Bespoke Insurance Schemes & Portfolio Policies available
We can tailor your policy to suit your exact needs to give you complete peace of mind
Competitive Premiums
Cover available for the buildings while the property is being converted, renovated or extended
Over 40 years experience working with the best insurers in the UK
Excellent communication so that you understand what risks you are insured against
Why choose the Property Insurance Centre
Independent broker with staff you can speak to by phone or online
Access to a wide range of insurers to source suitable insurance cover for your needs
Bespoke Insurance Schemes & Portfolio Policies available
We can tailor your policy to suit your exact needs to give you complete peace of mind
Competitive Premiums
Cover available for the buildings while the property is being converted, renovated or extended
Over 40 years experience working with the best insurers in the UK
Excellent communication so that you understand what risks you are insured against
Specialists in Commercial & Residential Insurance
We have over 40 years experience as Residential and Commercial Insurance Brokers. We find the right policy to suit your needs and understand the risks that a property owner can face in the course of ownership. We work closely with our Insurers to get the best rates and our experience and excellent relationships with them mean that we can provide cover for even the most difficult to place risks.
Whether you have an adverse claims history, a high value property or a large portfolio of properties, we can source suitable cover for you. Whatever your requirements, we can tailor a specialist property insurance policy to suit your exact needs and provide you with a range of quotes to choose from. Established in 1976, we are not a call centre but a specialist insurance broker with a traditional office mentality, where the client comes first.
Looking for a quote now? Give us a call on 0800 085 3761 or complete one of our quote request forms.
We are also authorised and regulated by the Financial Conduct Authority and you can view our registration here.
Get In Touch:
[contact-form-7 id="12585" title="New Callback"]We accept most payment types including:
Robert Fisher is a company director of the Property Insurance Centre, who specialise in Business and Property Insurance, serving clients throughout the United Kingdom. His expertise and career in insurance spans almost twenty years.
Robert’s background is in Building Surveying, which he studied at Heriot-Watt University, where he was awarded a BSc (Hons) degree. Much of his educational background is in Building Structural Safety from an engineering perspective.
The knowledge that Robert gained at undergraduate level has lent itself well, particularly as it has enabled him to evaluate the risks associated with certain buildings. This means he knows how best to place these risks and ultimately insure the properties against such risks.
His in-depth knowledge of various methods of construction has enabled him to easily identify which insurer’s underwriting criteria would best fit each client’s needs and provide the correct levels of cover.
Additionally, Robert is responsible for training the team and ensuring that they are always kept up to date with the latest industry developments. This is an area that he is naturally drawn to because of his inquisitive mind, diligence and passion for passing on knowledge to others.
He is a member of the Chartered Insurance Institute (CII) and qualified to Level 3 with the CII.
As part of the Level 3 certification, Robert has undertaken modules in Insurance, Legal & Regulatory (IF1), Insurance Claims Handling (IF4) and Insurance Household Products (IF6).
As a condition of CII membership, Robert continues his professional development by keeping abreast of the latest industry developments.
Contents
- 1 What is next for the High Street?
- 2
- 3 Insurance under one roof
- 4 We are specialists in many types of insurance
- 5 Block of Flats
- 6 Unoccupied
- 7 Home Insurance
- 8 Residential Landlord
- 9 Land Liability
- 10 Commercial Property
- 11 Lockup Garage
- 12 Restaurant
- 13 Takeaway
- 14 Classic Car
- 15 Mixed Use
- 16 Tradesmen
- 17 Why choose the Property Insurance Centre
- 18 Independent advice by approachable staff online or by phone
- 19 Access to a wide range of insurers to source suitable insurance cover for your needs
- 20 Bespoke Insurance Schemes & Portfolio Policies available
- 21 We can tailor your policy to suit your exact needs to give you complete peace of mind
- 22 Competitive Premiums
- 23 Cover available for the buildings while the property is being converted, renovated or extended
- 24 Over 40 years experience working with the best insurers in the UK
- 25 Excellent communication so that you understand what risks you are insured against
- 26 Why choose the Property Insurance Centre
- 27 Independent broker with staff you can speak to by phone or online
- 28 Access to a wide range of insurers to source suitable insurance cover for your needs
- 29 Bespoke Insurance Schemes & Portfolio Policies available
- 30 We can tailor your policy to suit your exact needs to give you complete peace of mind
- 31 Competitive Premiums
- 32 Cover available for the buildings while the property is being converted, renovated or extended
- 33 Over 40 years experience working with the best insurers in the UK
- 34 Excellent communication so that you understand what risks you are insured against
- 35 Why choose the Property Insurance Centre
- 36 Independent broker with staff you can speak to by phone or online
- 37 Access to a wide range of insurers to source suitable insurance cover for your needs
- 38 Bespoke Insurance Schemes & Portfolio Policies available
- 39 We can tailor your policy to suit your exact needs to give you complete peace of mind
- 40 Competitive Premiums
- 41 Cover available for the buildings while the property is being converted, renovated or extended
- 42 Over 40 years experience working with the best insurers in the UK
- 43 Excellent communication so that you understand what risks you are insured against
- 44 Specialists in Commercial & Residential Insurance
- 45 Get In Touch:
- 46 We accept most payment types including:
- 47 UK Call Handlers & Dedicated New Business Team
- 48 Call Us on 0800 085 3761
- 49 Robert Fisher
