0870 121 0007 Quote Ref: QC
UK Commercial Insurance
If you own or rent a business property have you thought about the financial hardship even a slight disruption to that property would have on your business. Even the smallest disturbance could put your livelihood at risk, commercial property insurance, however, can help to greatly reduce the financial danger to your income.
Most property insurance policies will cover against fire, lightning and explosion of gas and boilers used for domestic purposes, however, commercial insurance can cover you for much more. Below we have outlined a few things that your commercial property insurance may cover, where normal property insurance may fall down and not provide cover.
Building insurance will cover you for the full rebuilding cost and not just their market value, you may need to get expert help on the cost of rebuilding, but your insurance provider should be able to assist you there.
Contents insurance should cover the full cost of all stock, excluding all profits that would be made. Wear and tear of plant and business equipment will be taken into account if indemnity insurance is taken out, the other option is replacement as new, but this may increase your premium. Theft is also covered here, but only if there has been a forced entrance or exit from the property. Any damage to the property itself is also normally covered.
If your business uses electrical or mechanical machinery, including computers, then engineering insurance will cover against breakdown.
Cover can also be provided to protect against any money, including cash, cheques and postage stamps. Personal assault cover provided compensation if there is any injury sustained to yourself or any of your employees during a theft or attempted theft.
It may also be a good idea to see if your policy covers against goods in transit. This just protects an item, or items if they are in your vehicle and also if being sent by carrier.
A cover option that is only available under commercial insurance is business interruption. This covers you financially if there is any disruption to the normal working of your business that may interfere with any profit, or cause increased working costs or accountant fees.
Hopefully you can now see that commercial insurance is very different from normal property insurance. It not only can cover your property, but also goods and the people working for you meaning that if anything was to happen that could put your livelihood at risk you will be covered and so repairing the damage will not be such a financial strain. Please fill in your details and someone will be intouch shortly.