commercial property owners insurance

Insurance termed as commercial property owners insurance is specifically designed to mitigate the risks associated with owning or managing a building used for business purposes. Examples of such business would be a:

WHAT IS COMMERCIAL PROPERTY OWNERS INSURANCE?

Items not usually included :

When looking for commercial buildings cover, you will need to specify one of the following:

Occupied Commercial Property
This is the most common form of commercial property owners insurance and would be required by owner business occupiers and properties which contain commercial tenants.

Un-Occupied Commercial Property
If your commercial property becomes vacant you should inform your insurer in reasonable time (most policies say 30 days). There are special policies that will provide un-occupied commercial property owners insurance and will be provided at a lower rate than occupied cover, however there are usually restrictions. Often the cover is reduced back to only include the basic perils such as fire, lightning and explosion. Some un-occupied commercial property owners insurance is provided on the basis of security considerations. eg. There must be regular inspection of the property.

Combined Property Cover
Should you be the commercial owner occupier of the property you may wish to consider combining your commercial property owners insurance with your commercial contents & liability insurance, or indeed with the whole of your business insurance needs. Including all insurance requirements in one policy should prove to be a more cost effective method of obtaining the overall business insurance cover that you require.

TYPES OF COMMERCIAL PROPERTY OWNERS INSURANCE?