Commercial Property Insurance

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What is Commercial Property Insurance?

Commercial property insurance is designed to protect your business premises and its contents against risks such as fire, theft, vandalism, and natural disasters. This insurance ensures that your investment is safeguarded, providing financial security and peace of mind.

Whether you own a small shop, a large office building, or any other type of commercial property, securing the right insurance is crucial

Compare Commercial Property Insurance Quotes

We know how difficult comparing policies can be. That’s why our trained team are here to help you find dedicated brokers who want to quote you.

Our service is free and impartial with no obligation to buy.

Commercial Property Insurance

What our Comparison Expert Says

‘When it comes to comparing insurance for landlords, our team have you sorted! It’s crucial to make sure you have correct insurance for your investment but there’s no need to pay more than you need to. Our agents will connect you with landlord insurance brokers who can insure any type of property!’

- Michael Tribe

How our process works

We’ve worked hard to refine our process and keep it as quick, easy and simple as possible for our customers.

Complete Our Quick Quote Form

Provide us with a small amount of information on our quick and easy form. If you don’t want to fill out our form, simply give us a call instead and 1 of our agents will do it for you!

Specialist Brokers Are Compared

We look at your individual needs and find you brokers who can save you the most and offer you the best value for money.

You Receive Commercial Property Insurance Quotes

You’ll receive multiple quotes tailored specifically to your own insurance needs.

You Save Money

Once you have all the quotes you’d like, you pick the right policy for you at the best price.

What is Covered by Commercial Property Insurance?

Buildings Insurance

Covers the physical structure of your property against damage from fire, floods, storms, and other perils.

Contents Insurance

Protects the contents of your property, including furniture, equipment, and stock, against theft, damage, or loss.

Business Interruption Insurance

Provides coverage for lost income and operating expenses if your business is unable to operate due to insured damage.

Glass Insurance

Covers the cost of replacing broken windows and glass doors.

Loss of Rent Insurance

Protects against loss of rental income if your property becomes uninhabitable due to insured damage. This is ever more relevant for when looking for commercial landlord insurance.

Legal Expenses Insurance

Covers legal costs associated with property disputes or claims.

What is Not Covered by Commercial Property Insurance?

Flood Damage

Standard commercial property insurance policies often do not cover damage caused by flooding. If your business is in a flood-prone area, you may need to purchase separate flood insurance.

Wear & Tear

Normal wear and tear, as well as gradual deterioration of the property and its contents, are not covered. This includes maintenance issues such as roofing wear, plumbing leaks, and general aging of the building.

Acts of Terrorism

Damage resulting from acts of terrorism is usually excluded from standard policies. You may need to purchase a separate terrorism insurance policy to cover such risks.

Employee Theft

Losses caused by dishonest or criminal acts of employees, such as theft or embezzlement, are generally not covered. Businesses may need to consider fidelity bonds or crime insurance for protection against employee theft.

Pollution and Environmental Damage

Damage or losses caused by pollution, contamination, or environmental hazards are typically not covered. Businesses dealing with hazardous materials should look into environmental liability insurance.

Cyber Attacks

Damage caused by cyber-attacks, data breaches, or other cyber incidents is not covered by standard commercial property insurance. Cyber insurance is necessary to protect against these risks.

Non-Insured Business Interruption

While business interruption insurance can cover lost income due to certain events, interruptions caused by non-insured events like utility failures, pandemics, or government-mandated closures may not be covered.

Inventory Shortages

Losses due to inventory shortages, which might be the result of accounting errors or unknown causes, are not typically covered under commercial property insurance.

Who Needs Commercial Property Insurance?

Commercial property insurance is essential for anyone who owns or leases commercial property, including:

  • Retail shop owners
  • Office building owners
  • Restaurant and café owners
  • Warehouse and storage facility owners
  • Manufacturers and industrial facility owners
  • Hotel and hospitality business owners

What Businesses Need To Insure A Commercial Property?

Any business that operates from a physical location can benefit from commercial property insurance, including:

  • Retail businesses
  • Offices and professional services
  • Hospitality and food services
  • Manufacturing and warehousing
  • Health and fitness centers
  • Educational institutions
  • Real estate and property management firms

Do I Need Commercial Property Insurance?

If you own or lease a commercial property, you need commercial property insurance. It provides crucial protection against unforeseen events that could otherwise result in significant financial loss. Additionally, if you have a mortgage or lease agreement, commercial property insurance may be a requirement.

How To Get Business Property Insurance

When it comes to getting insurance for a business premises, we have you covered.

Simply complete our quote form and one of our agents will work out who is best to provide you your insurance quotes. We enable you to compare policies quickly and easily, helping you save both time and money.

How Much Does Commercial Property Insurance Cost?

The cost of commercial property insurance varies based on several factors:

  • Property Value: Higher valued properties will typically have higher premiums.
  • Location: Properties in high-risk areas, such as those prone to flooding or crime, may have higher premiums.
  • Business Type: The nature of your business can impact costs, with higher-risk businesses potentially facing higher premiums.
  • Coverage Level: The extent of coverage you choose will affect the cost.
  • Claims History: A history of claims can increase your insurance costs.

On average, commercial property insurance can range from £200 to £2,000 annually, depending on these factors.

How to Save Money on Commercial Property Insurance

Shop Around

Compare commercial property quotes from multiple insurers to find the best deal.

Increase Security

Enhance security measures like installing alarms, CCTV, and fire suppression systems to reduce premiums.

Combine Policies

Bundle commercial property insurance with other business insurance policies for discounts.

Pay Annually

Paying your premium annually rather than monthly can often save you money.

Maintain a Good Claims History

Avoid frequent claims to keep your premiums lower.

Frequently Asked Questions

Buildings insurance covers the physical structure of your property, while contents insurance protects the items within the property, such as furniture, equipment, and stock.

Yes, business interruption insurance can cover lost income and operating expenses if your business is unable to operate due to insured damage.

While not legally required, commercial property insurance is often mandated by mortgage lenders and lease agreements. It is also essential for protecting your investment.

You can reduce your premium by enhancing property security, bundling policies, paying annually, and maintaining a good claims history.

Contact your insurance provider as soon as possible with all relevant details, including the nature of the incident and supporting documentation. Your insurer will guide you through the claims process.

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