If you own a commercial property with commercial tenants, you are considered a commercial landlord and should consider commercial landlord insurance.
Commercial landlord insurance protects anyone who owns a commercial property and rents it out for business use.
What the property is used for and where it is located will impact the kind of cover you will require, so it’s important to discuss your individual requirements with a knowledgeable broker.
WHAT DO I NEED TO KNOW ABOUT COMMERCIAL LANDLORD INSURANCE?
Renting out property to other businesses may lead to a number of complications which are beyond your control; for example, damage to the property and its contents, or missed rental payments.
Should damage or theft occur to anything within the building, this type of insurance will protect you – this is particularly valuable if it is a piece of equipment vital for the business’ day to day operation.
Commercial landlord insurance will also provide cover should a user of the space claim for compensation in the event of illness or injury whilst working in the property.
Other more serious problems can occur – such as subsidence – which can, in some cases, breach mortgage terms. So, having commercial landlord insurance in place will help to rectify these problems as quickly as possible.
Finally, if a tenant defaults on their rental payments, your policy will cover these losses.
HOW CAN ENNESS HELP WITH COMMERCIAL LANDLORD INSURANCE?
Commercial properties can be anything from shops, to offices, from warehouses, to beauty salons, and each present unique risks and will require tailored protection.
The property’s location, and the type of business within it will also affect the cover you require. Our dedicated insurance brokers will take the time to understand your individual circumstances, and guide you in the most relevant protection options.
To speak to one of our brokers about your insurance requirements, please give us a call and we would be happy to run through your options with you.