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 Discover What Is Unoccupied Commercial Property Owners Insurance Is Either Listen To The Audio Above Or Read This Short Informative Article
Let’s consider some important facts of an Unoccupied Commercial Property Owners Insurance
Property owners liability is included up to two million pounds as standard and can be increased to five million or even 10 million upon request. The larger the building will often determine the amount you will require. Cover will be limited from day one of an occupancy. This is different than when a residential property becomes empty or cover is limited only after 30 days normally.
Every policy is different. However, generally speaking, the insurer will only provide cover for fire, lightning, earthquake and the explosion. This is known as flea cover. You will be required to undertake some steps to comply with the policy conditions. These steps will now be added to the policy by way of endorsement or within the policy wording.
These will include switching off the electrical supply, unless it is needed for an alarm, draining down the water supply, keeping the building free of all combustible materials, ensuring the building is inspected regularly, normally every few weeks, but again, this will depend on the insurer. Sealing any letterboxes to the building is also required.
Once the property becomes unoccupied, insurers will ask that you update them as soon as the property is occupied again. This reduces their risk profile and can also mean they will return some of the premium to you to reflect this. Some insurers will not offer a renewal for an unoccupied commercial property or ask that commercial buildings come off cover if they become unoccupied mid-term. It is therefore important to think of an occupied commercial property insurance as a short-term fix due to the level of cover, extra conditions and increased premium.
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:
UK Call Handlers & Dedicated New Business Team
Call Us on 0800 085 3761
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
- 2 Unoccupied Commercial Property Owners Insurance Specialists, Est. 1976
- 3 Listen to What Is Unoccupied Commercial Property Owners Insurance explained by one of our directors
- 4 What Is Unoccupied Commercial Property Owners Insurance?
- 5 To Discover What Is Unoccupied Commercial Property Owners Insurance Is Either Listen To The Audio Above Or Read This Short Informative Article
- 6
- 7 Insurance under one roof
- 8 We are specialists in many types of insurance
- 9 Unoccupied commercial buildings carry a higher risk profile, which in turn may result in your insurer increasing their merit premium mid-term. Once the property becomes occupied again, your insurer will normally refund this to you, less their usual charges, and for time on risk as an empty property.
- 10 Let’s consider some important facts of an Unoccupied Commercial Property Owners Insurance
- 11 Block of Flats
- 12 Unoccupied
- 13 Home Insurance
- 14 Residential Landlord
- 15 Land Liability
- 16 Commercial Property
- 17 Lockup Garage
- 18 Restaurant
- 19 Takeaway
- 20 Classic Car
- 21 Mixed Use
- 22 Tradesmen
- 23 Why choose the Property Insurance Centre
- 24 Independent advice by approachable staff online or by phone
- 25 Access to a wide range of insurers to source suitable insurance cover for your needs
- 26 Bespoke Insurance Schemes & Portfolio Policies available
- 27 We can tailor your policy to suit your exact needs to give you complete peace of mind
- 28 Competitive Premiums
- 29 Cover available for the buildings while the property is being converted, renovated or extended
- 30 Over 40 years experience working with the best insurers in the UK
- 31 Excellent communication so that you understand what risks you are insured against
- 32 Why choose the Property Insurance Centre
- 33 Independent broker with staff you can speak to by phone or online
- 34 Access to a wide range of insurers to source suitable insurance cover for your needs
- 35 Bespoke Insurance Schemes & Portfolio Policies available
- 36 We can tailor your policy to suit your exact needs to give you complete peace of mind
- 37 Competitive Premiums
- 38 Cover available for the buildings while the property is being converted, renovated or extended
- 39 Over 40 years experience working with the best insurers in the UK
- 40 Excellent communication so that you understand what risks you are insured against
- 41 Why choose the Property Insurance Centre
- 42 Independent broker with staff you can speak to by phone or online
- 43 Access to a wide range of insurers to source suitable insurance cover for your needs
- 44 Bespoke Insurance Schemes & Portfolio Policies available
- 45 We can tailor your policy to suit your exact needs to give you complete peace of mind
- 46 Competitive Premiums
- 47 Cover available for the buildings while the property is being converted, renovated or extended
- 48 Over 40 years experience working with the best insurers in the UK
- 49 Excellent communication so that you understand what risks you are insured against
- 50 Specialists in Commercial & Residential Insurance
- 51 Get In Touch:
- 52 We accept most payment types including:
- 53 UK Call Handlers & Dedicated New Business Team
- 54 Call Us on 0800 085 3761
- 55 Robert Fisher
