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
Limits of sums insured
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.
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.
The standard perils covered under the insurance policy
1. FIRE, SMOKE, LIGHTNING, EXPLOSION, but excluding:-
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.
Risk Management - reduce the
risk of making a claim on your unoccupied home insurance policy