Commercial landlord insurance or commercial property insurance offers coverage and protection to commercial property owners who let a property out to third party businesses.
Commercial landlord insurance is different from residential landlord insurance because commercial units such as shops and offices are constructed differently from a domestic property. Also, the commercial property receives more visitors, has distinct risks and requires a specific kind of protection, should the unexpected happen.
What Does Commercial Landlord Insurance Cover?
We offer key coverage in:
Building insurance offers protection in case your property is damaged or destroyed. The amount offered would not depend on the market value of the property but rather, the cost of rebuilding your commercial property in case it is affected by a natural disaster or an insured event.
Landlord Legal Protection
Landlord legal protection covers the possible costs associated with any legal proceedings relating to your rental property, including legal action, and court proceedings.
You may want to take legal action if a tenant damages your property, you need to evict them or recover unpaid rent from them.
If your property can no longer be occupied due to an insured event, our partner insurers will cover the cost of your missed rental income to support your business.
A cover that can pay for the repair or replacement of your own contents in a rental premise if they are damaged or destroyed. Covered possessions include furniture, appliances and contents in communal areas.
Property Owner’s Liability
Property owner’s liability allows you to meet any costs and damages incurred by a claim from member of the public if they suffer an injury following an accident on or linked to your property.
Emergency Cover insurance is a cover against incidents such as boiler breakdown, burst pipes and roof damage.
Protect Your Property Against
UK-based businesses lose millions of pounds every year due to fires. IC Insurance Solutions covers damage incurred in the event of a fire so your business concerns remain protected.
Combined Commercial insurance is a complete cover against unforeseen natural events such as lightning.
Floods and Storms
During the financial year 2015-2016, the United Kingdom was inundated by floods that affected 16,000 properties. According to a report published by the Environmental Agency, the total economic damage from these winter floods was estimated to be between £1.3 billion and £1.9 billion.
IC Insurance Solutions can help your business remain afloat by providing cover against floods, storms and unpredictable climate conditions.
Escape of Water
According to the Association of British Insurers (ABI), 2018 saw a significant increase in claims pertaining to costs associated with burst pipes.
Escape of water claims provide coverage against leaking appliances, burst pipes and other plumbing related problems.
Earthquakes and Subsidence
Earthquakes and subsidence are considered a standard risk to commercial property. Natural disasters can disrupt your business by causing significant damage to your property and possessions.
With our commercial landlord insurance packages, you can be prepared for the worst.
Explosions, big or small, can be devastating for your business and commercial property. Commercial landlord insurance guards against risks such as explosions.
Our comprehensive commercial property insurance packages also covers impact by aircraft and other aerial devices.
Riots and Strikes
Riots, civil commotion and strikes can have a devastating impact on commercial properties. In 2011, riots, unrest and arson attacks shook the UK. Consequently, households and businesses suffered losses of over £200 million.
Commercial landlord insurance insures you against such losses by covering for events such as riots, violent disorder, strikes, and civil commotion.
Commercial buildings receive more visitors and so, the risk of accidental damage is always there.
Commercial landlord insurance protects your property against events in which you or your tenants have accidentally damaged it by compensating for the cost of repairs or replacements.
Malicious Damage and Theft
Landlord insurance secures you by providing cover against events in which theft, vandalism or malicious damage to property is involved.
Impact damage is a potential risk commercial landlord insurance compensates for.
Our commercial landlord insurance packages can also offer you sustained protection and coverage for property damage caused by acts of terrorism.