Commercial Property Insurance
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Commercial Landlord Insurance for shops and retail units

Retail property can range from small independent shops to larger units occupied by established businesses.

As well as the building itself, insurers may consider the nature of the retailer, the location of the premises, security arrangements and whether customers regularly access the property.

Where a shop forms part of a building containing residential accommodation, the property may instead require mixed-use insurance that reflects both the commercial and residential occupation.

Commercial Landlord Insurance for offices

Offices can include anything from a small professional practice to larger premises occupied by multiple businesses.

Commercial landlord insurance can protect the building owner's interests while the businesses occupying the property arrange insurance for their own operations, contents and liabilities.

If you own an office building containing several tenants, insurers may require details of the different businesses occupying the premises.

Commercial Landlord Insurance for restaurants, cafés and takeaways

Food and hospitality businesses can present particular considerations for property insurers.

Commercial cooking equipment, heat sources, extraction systems and the nature of the business can affect how an insurer assesses the building.

When arranging cover for a property occupied by a restaurant, café or takeaway, you may therefore be asked for additional information about the tenant's activities and the protections in place.

Accurately describing the business operating from the premises helps ensure insurers understand the risk they are being asked to cover.

Commercial Landlord Insurance for warehouses and industrial units

Warehouses, workshops and industrial units can vary significantly in their use.

Some premises may simply be used for storage, while others contain machinery, manufacturing processes or specialist equipment.

The activities undertaken by the tenant and the materials stored at the premises can therefore be particularly important when arranging insurance.

If a property contains multiple industrial or commercial tenants, insurers may need details of each occupant.

Rebuild value vs market value

One important consideration when arranging commercial buildings insurance is the amount for which the property should be insured.

The market value of a property and the cost of rebuilding it are not the same thing.

Market value reflects what the property might sell for. The rebuild value considers the cost of reconstructing the insured building following serious damage, including relevant materials, labour and associated costs.

If the declared value is insufficient, the property could be underinsured, which may affect the amount paid following a claim.

Commercial property owners should therefore make sure the values provided to insurers appropriately reflect the property being insured.

What happens if a commercial property becomes unoccupied?

Commercial properties can become vacant between tenants, during refurbishment or while a landlord searches for a new occupier.

An empty property can present different risks from an occupied building.

Insurance policies may contain specific conditions relating to unoccupied properties, and the cover available can change after a property has been vacant for a specified period.

You may also be required to take certain precautions while the premises are empty.

If your commercial property becomes vacant, tell your insurer or broker so that the change in occupancy can be considered and suitable cover arranged.

City Insurance can also help with insurance specifically for vacant properties.