Unoccupied Commercial Property Insurance

Request free advice for unoccupied commercial property insurance

As insurance brokers we have several schemes available for unocupied commercial property insurance - but they are not available online so we recommend that you request a call-back: our advice is free and we can ensure that we have the correct information to provide you with an accurate quotation. To request a call-back, select the appropriate option from the Commercial Property Menu above.

The information below relates to a specific unoccupied commercial property insurance scheme. (No longer available).

Suitable for all owners of commercial property, our unoccupied commercial property insurance policy will cover the property whilst it is vacant and can be easily extended to cover the property once it is let - whether to a shop, office, single commercial unit or multiple commercial units.

Definition of unoccupied Commercial Property

• For the purposes of our rating an unoccupied commercial property is one that has not been actively used for a period of at least 31 days (page 5).

Limits of sums insured

•  The insurance policy has a maximum sum insured of £3,000,000 (higher sums on request). Discounts are available on sums insured exceeding £300,000.

Property Owners Liability Insurance

There are 3 levels of property owners liability insurance: £1,000,000; £2,000,000 and £5,000,000. Please note that there are conditions attached:-

L135 - UNOCCUPANCY CONDITIONS (LIABILITY)

It is a condition precedent to liability under this Certificate that:

i. the premises are securely locked to prevent unauthorised access;

ii. the premises are regularly inspected by the Insured and/or his personal representative (at least once per week) and any defect found to be repaired immediately

Property owners liability insurance is compulsory - there is a minmum premium of £200.00 +IPT for £1,000,000; £225.00 + IPT for £2,000,000 and £300.00 + IPT for £5,000,000.

Policy Excesses

• There is an excess of £1,000 for subsidence claims (if the cover is selected)
• There is an excess of £250.00 for other property claims
• There is an excess of £500.00 for third party property damage claims under the liability section.
• There is no excess for other claims under the liability section.

Standard Exclusions

Like all unoccupied commercial property insurance policies, there are exclusions. This is a summary - full definitions are available on pages 8 - 10 of the policy.

• Intentional Damage
• War
• Ionising Radiations
• Terrorism (specific cover can be purchased - premiums on request)
• Riot - in Northern Ireland
• Consequential Loss
• Losses covered elsewhere (other than on a pro-rata basis)
• Pollution
• Pressure Waves
• Date Recognition

The standard perils covered under the insurance policy

1. FIRE, SMOKE, LIGHTNING, EXPLOSION, but excluding:-
i. spontaneous fermentation or heating process
fire due to its own spontaneous fermentation or heating or its undergoing any heating process or any process involving the application of heat.
ii. explosion, caused by or consisting of:
a. the bursting of a boiler economiser or other vessel machine or apparatus in which internal pressure is due to steam only and belonging to or under your control.
b. pressure waves caused by aircraft or other aerial devices travelling at sonic or
Property Owners Policy Page 13 of 31 Draft 04/16
supersonic speeds.
2. AIRCRAFT or other aerial devices or articles dropped therefrom.
3. EARTHQUAKE, VOLCANIC ERUPTION OR SUBTERRANEAN FIRE.

What happens when the property becomes occupied?

If you inform us of the occupancy then the policy will continue as a normal commercial property owner's insurance policy. The full benefits of the policy will apply. Almost certainly there will be a reduction in premium as the material risk rate remains the same and the liability insurance premium will most likely decrease. The exact change depends on whether the property is let as a shop, office, hotel, guesthouse, a single commercial let or a multi-tenure let.

Unoccupied Property Insurance Quotes Info Policy Wording Key facts Postcode Sum Insured - Buildings £ Sum Insured - Contents £ Accidental Damage Cover Not required Yes (+5%) Subsidence   No Yes (+5%)   Property Owners Liability   £1,000,000 £2,000,000 £5,000,000     Status and cover required. Unoccupied - Full Cover Structural Renovations Unoccupied - Limited Cover Non Structural Renovations Construction of Buildings <25% flat roof 25-50% flat roof 50%-75% flat roof >75% flat roof No claims Bonus None One Two Three + Excess required £75.00 (Default) Social Media Discount? Yes No Legal Expenses/ Rent Guarantee No Yes Insurance Premium Buy your Unoccupied Property  Insurance online

Risk Management - reduce the risk of making a claim on your unoccupied home insurance policy

Companies providing unoccupied home insurance, will normally only do so if the insured is willing to help reduce the chance of a loss - this is known as risk-management. This is not, per se, a requirement for this insurance policy but well recommended.

• Arranging a regular inspection of the empty property either directly or by a trusted agent.
• Turning off the central heating or ensuring that it is on permanently to reduce the risk of burst pipes
• Sealing off letter boxes and boarding up windows to reduce vandalism.

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B. Portwood & Co also offer cover on other types of property, professional let, DSS let, student lets, asylum seekers as well as unoccupied property insurance.

 B Portwood & Co are registered at 145 Newgate Street, Bishop Auckland, Co Durham. DL14 7EN.  Commercial unoccupied property insurance is administered at 145 Newgate Street, Bishop Auckland. DL14 7EN
 Tel 01388607105 for any queries, advice, help or assistance.