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!