Commercial Landlord Insurance
Finding the right landlord insurance is an essential part of being a successful commercial landlord. Your investment is probably the most valuable asset you own so it’s vital that you – and your paying tenants – are both fully protected against all eventualities.
With more than 20 years of experience in providing all types of commercial insurance for every kind of property, we understand your challenges. This means we know how to get the commercial landlord cover you want at the most competitive prices – fast.
What is commercial landlord insurance?
A commercial landlord insurance policy for a business allows building owners to rent premises that they own for use by other businesses. Commercial properties come in all shapes and sizes. Whether you own a single office building, a row of shops or an extensive warehouse, it will affect the kind of landlord insurance that you want.
As this type of landlord insurance is not aimed at a homeowner but a business that may be dealing with the public and employees, it typically includes two different types of coverage: property and liability protection.
Both coverages are intended to help protect you as a landlord from financial losses. As a specialist commercial insurance broker, we work with a panel of top insurers to match your requirements to the most suitable product for your needs.
Are building and home insurance the same as commercial landlord insurance?
When renting out your business premises, it’s essential to have business-specific landlord insurance, rather than a typical building or home insurance. Most commercial landlord insurance policies will usually have building insurance covers that protect you if there’s damage to the building and extras such as contents and liability.
With your premises being occupied by tenants operating a business, we recommend talking to one of our insurance advisers to go through every policy that will safeguard your investment if the unexpected should happen.
How can I find out the rebuilding cost of my commercial property?
Whether you’re applying for cover for your home or standard landlord insurance, an important part of getting your insurance quote is calculating the rebuild cost of your property.
You should be able to find your rebuild cost on your mortgage valuation. If you’re struggling to locate the exact amount, don’t worry, as there are other avenues you can take to find your rebuild cost such as seeking the advice of a building surveyor or using the free BCIS calculator tool available on the Building Cost Information Service (BCIS) website.
What is a rebuild cost?
The rebuild cost of your property is the total sum of money required to rebuild your property from its foundations in the event of damage resulting from an incident such as a fire or flood.
When calculating your rebuild cost, you must consider the cost of materials as well as the labour involved in the reconstruction process. This sum is usually significantly lower than your home’s market value for a standard build as your land is not factored in the total. However, if your home features uncommon materials and unique features, your rebuild cost may become higher than market value.
Each individual and business is different, which is why often landlords may require additional cover, such as:
Employers’ Liability: This cover is designed to protect you in the event of an employee suffering an accident in the workplace.
Public Liability: This liability insurance policy provides financial protection if your business is responsible for causing injury or property damage to a third party. It covers legal costs and compensation payouts, helping to protect the business in the event of a successful claim.
Business Legal Expenses: Don’t let legal expenses put a strain on your business protect your finances with legal protection.
How much is commercial landlord insurance for my business?
Are you ready to find out how much you can save on your landlord insurance? Our friendly team is just a phone call away and will take you through every step towards getting your business the correct cover. Call now on 0800 0815 030 to get a free quote on landlord insurance for your business.