If you rent out business premises to tenants, Commercial Landlord Insurance can help protect your valuable assets.
The policy can cover not only the property itself, but can be extended to cover your contents, rent, and your obligations to your tenants. Commercial Landlord Insurance is typically arranged where you rent part or all of a property that you own. It can cover just about any premises, whether they are used for business, domestic, educational or religious purposes, or a combination of any of the above. Even unoccupied properties can be covered.
What does Commercial Landlord Insurance cover?
As the property owner, your main concern will be insuring the buildings themselves. The cover can vary from basic ‘perils’ such as Fire, lighting, explosion and impact from vehicles, all the way up to ‘All Risks’ cover, with extensions for things such as public liability insurance, tenants’ contents and even loss of rent. The level of cover you choose will of course influence the premium you pay, but you have many options as to what you choose to cover.
What level of cover do I need for Commercial Landlord Insurance?
This depends on a number of factors. Ultimately, this is your decision, but among other things you should consider:
- Do you own the properties outright? If not, your lenders may insist on a minimum level of cover
- What are the premises used for? Different tenants present different risks, and unoccupied properties carry even greater risks
- What would the property cost to rebuild? The sums insured under the policy will be based on this, rather than the market value of the property, so you should ensure that these are adequate
Who pays for Commercial Landlord Insurance?
Some landlords prefer to pay one premium for all of their properties with a common renewal date. Others prefer separate schedules for each property, so that they can make tenants responsible for insurance for the premises they occupy. Whatever your preference, we can find a policy that meets the needs of your property portfolio.
Why should you deal with JM Glendinning for your Commercial Landlord Insurance?
We have strong relationships in place with well-established property insurers. That enables us to find competitive property cover for just about any portfolio. On many of our commercial landlord insurance schemes, we can offer a quotation and cover on the same day, with instant electronic documentation. In short, we make it easy for you to manage and even add to your property portfolio.
Established in 1972, we have always looked to offer personalised, local service, especially when you need it most – in the event of a claim. Our dedicated claims team pride themselves on their technical knowledge of the policy wording, and will negotiate with insurers for you, to get a full prompt settlement of your claim.