Insurance for commercial landlords
Letting a shop, office or other commercial property? Compare insurance for the building and the business using it, and check who is responsible for cover under the lease.
Request a commercial property insurance quote
Have the property details, tenant’s trade, rebuild cost and claims history ready.
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Insurance for the property you let
A commercial property policy can cover a shop, office, warehouse, industrial unit or a building with both business and residential use. Explain what the tenant does there so the insurer can assess the right cover.
Depending on the policy, you can cover the building, contents you provide, certain liability claims, loss of rent and legal expenses. Read the details for flood, subsidence, water damage, terrorism, glass and machinery: these may be excluded, optional or have a separate excess.
Who arranges the insurance?
Start with the lease. It should explain who insures the building, how the cost is paid and who is responsible for repairs. Tell the insurer about any lender or freeholder with an interest in the property, and any mix of residential and commercial use.
What to have ready
- The address, size, age and construction of the building, including the roof and any listed status.
- The rebuild valuation and when it was prepared.
- The tenant’s trade, including hazardous work or storage.
- Details of alarms, fire protection, security and electrical inspections.
- Previous claims, flooding, subsidence and water damage.
- Any empty periods, renovations or changes in use.
Make sure the rebuilding amount is right
The cost of rebuilding can be different from the price you could sell the property for. It may need to include demolition, professional fees and work required by building rules. Too little cover can reduce a claim. A qualified rebuild-cost assessment can help, especially for an unusual or complex building.
Read the conditions before choosing
Ask how long lost-rent cover lasts after serious damage and whether service charges are included. Check the excesses, exclusions and conditions about security, inspections and maintenance. Ask the provider to explain any underinsurance clause and how it affects a claim.
If the building becomes empty, the tenant or their business changes, or major work starts, tell the insurer as required by the policy. Empty properties can have reduced cover and extra conditions.
This is general information. The provider or a qualified adviser can help with your property’s insurance needs. How our service links are funded.