Commercial Property Insurance: Protecting Your Investment from the Inherent Risks

Investing in a property is an exciting thing to do; it brings new challenges, potential and a deep sense of satisfaction in buying and planning all your renovation work. The possibilities are endless and your brain will be in whirl over what you can do once it’s yours.

However, that is the easy bit. The hard bit comes when you officially own it, and are therefore are risk of a million things. When you start renting it out to tenants, things start to become even riskier.

Make sure your property and finances are safe and secure

That’s exactly why Commercial Property Insurance is every property owner’s best friend. It protects against a range of risks, and there are different types of cover depending on your specific needs. But every property owner needs it, and should have it if they are to remain financially secure and protect their asset. Risks can involve not only the building itself, but its contents and its tenants.

It has been said that the survival of a business is based on how quickly it bounces back after a disaster, and that could be anything from a tenant not paying their rent to a natural disaster, such as a storm. The length of time the property remains unprotected, uninhabited or without any financial cover will determine its profit or loss. So Commercial Property Insurance can help get you back on your feet quickly in the event of any disaster that could in any likelihood crop up.

The who, what, when and where

So now you understand how incredibly important Commercial Property Insurance is for your success in the business, you are probably wondering what exactly it offers.

Well, a policy will protect against the following:

  • malicious or accidental damage
  • loss of rent
  • property owners liability cover
  • inhabitancy of the property

It will also cover many types of property, including:

  • Houses
  • blocks of flats
  • offices
  • warehouses
  • factories
  • properties with mixed uses

Commercial Property Insurance can also protect against fire, storm and flooding. Also, if your property has a basic level of security then you should also be able to insure contents against theft.

Getting what you need from your cover

A good idea to make sure you get the exact cover you need, is to create a checklist of what you want your policy to include and refer to it when searching. It is advised to speak to a professional broker who specialises in Commercial Property Insurance, from a renowned company who have experience and key relationships with relevant insurers.

A bespoke policy can also offer added protection for you, your property and your tenants. Just outline your conditions to your broker, and they will be able to immediately flag up any common risks to your set of circumstances. They will then advise on the best policy to protect you against these risks, and act on your behalf to negotiate the most affordable deal.

If you want more information on Commercial Property Insurance or just want to speak to a broker or get a quick quote online, visit www.flintinsurance.co.uk

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