If properly managed and insured, a commercial property, such as a small high street office or warehouse on an industrial estate can provide a relatively straightforward income stream.
And in addition to any commercial premises, residential properties, such as one that sits above a shop can be covered under the same policy by speaking to our team at C&M.
What’s covered by commercial property insurance?
You’re covered as a property owner who lets out their property for business purposes against insured perils including fire, flood and theft, as well as responsibility towards your business tenants and members of the public if someone is injured and a poorly maintained premise is deemed to be the cause.
Storm water after heavy rainfall can hit with little warning and leave substantial destruction in its wake. Damage caused by flooding would be covered as standard within your property insurance policy, but you would also want to consider the impact of having to close your business while repairs are underway. In this instance, business interruption insurance is a useful addition as it can cover your income, profits, and staff wages while you’re closed.
Theft of money and stock, as well as malicious damage are equally unpredictable, and in the event that your security measures don’t suitably deter criminals, any damage or loss of stock and money can also covered with a commercial property insurance policy.
Many commercial properties such as those within a row of shops or a small high street premises will have a residential flat above them. If you own this alongside the commercial property, you can combine protection for the both of them with one policy, making managing your property portfolio that much easier.
Cover for residential properties will include damage to fixtures and fittings, tenant liability, and optional extras such as rent guarantee.
For more information or for a no obligation quote, visit our commercial property insurance web page.