Unoccupied Commercial Property

As the physical platform for nearly all British industry, the commercial property sector makes up 13% of the value of the built environment in the UK and contributes over £68 billion to the economy.

As well as warehouses and industrial units we exercise, shop, eat and work in commercial premises so it’s vital that these buildings are properly insured whether they are in use or not.

So, why is it important to have Unoccupied Insurance; if your premises are vacant for 30 days or more your regular Commercial Buildings Insurance is unlikely to cover you in the event of accidental damage, theft and vandalism. Sensibly, insurers want unoccupied premises to be covered by a specialist policy as they are more likely to be claimed against due to being a target for criminal activity.  Equally if the unoccupied premises aren’t regularly checked for damage then issues could be missed, flooding and fire could also go unreported.

We know that properties become unoccupied for a multitude of reasons, so we’ve designed our cover to suit all your client’s needs, and to make life easier for you the broker.

  • No need to cancel cover once occupied as we can amend the current policy
  • Free Unoccupied Legal Expenses
  • Unfixed Building Materials up to £5,000
  • FLEEA - Excess Nil
  • 10% Discount where claim free for 3 years or more
  • Subsidence Cover can be included if Unoccupied to be sold
  • Discounts for intruder alarms (where not an underwriting condition)
  • 2 Cover Options – Fire, Lightning, Explosion, Aircraft and Wider Perils
  • Voluntary Excess Discounts available
  • Size Discounts available

To find out how you could help your clients, contact us on 0330 678 0228

Source (Property Industry Alliance, 2016)