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What is commercial landlord insurance?

Commercial landlord insurance is designed to protect your property if it is damaged or destroyed. There are certain risks that come with owning a building that is being used for commercial purposes. Commercial landlord insurance covers your building against fire, theft, damage and more.

Damage to your building could result in your tenants moving elsewhere and you losing out on significant income. Commercial landlord cover provides protection against this risk and seeks to restore your building to its original condition as quickly as possible

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What does commercial landlord insurance cover?

Most commercial landlord insurance policies cover the costs of repairing or rebuilding your insured building. They cover events such as:

  • Burst pipes
  • Flood
  • Fire
  • Riots
  • Storms
  • Subsidence
  • Theft

Why do I need commercial landlord insurance?

Commercial landlord insurance is not a legal requirement however it provides landlords with the security they need when disaster strikes. If you have taken out a mortgage out on the building, the lender may require you to have commercial landlord insurance in place as part of the agreement.

Like home insurance, commercial landlord insurance provides protection against potentially significant financial losses arising from events such as floods and fire. However, it can also provide protection compensation bills arising from legal action from your tenants.

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Frequently asked questions

No, commercial landlord insurance is not a legal requirement however it is important to ensure that in the event of a disaster, your property can be restored to its previous condition as quickly as possible.
Your commercial landlord insurance premium will be based on a number of factors including: location of the property, the purpose that the property is being used for,
Yes, generally commercial landlord insurance covers fire damage however subterranean fires and damage from explosions are excluded.
Yes, commercial landlord insurance covers damage to the premises by escape of water from any natural or artificial watercourse. However, insurers may increase the premium or exclude flood cover all together depending on the location of the premises.
No, commercial landlord insurance does not cover incidents that have arisen from wear and tear.
The best way to get an accurate cost for the rebuilding of your property is to get it surveyed by a qualified surveyor.
In the event of a claim where the cost to rebuild your property exceeds the value for which it was insured for, the claims settlement will be proportionally reduced.