Commercial Property Insurance

Commercial Construction
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Commercial Property Insurance

If you have a commercial property that you need to insure it used to be a case of giving the insurance company the details and then having to wait while they manually work out the quote before coming back to you with a figure, but this is no longer the case as there are insurance companies that are now starting to give instant figures for this type of insurance which cuts out the waiting part of it.

There are various types of commercial properties that you can insure and you can also insure properties that are part commercial and part residential under this policy (for example a shop with a flat above where the owner wants to insure both on the one policy). Mainly however this is for commercial places such as shops, surgeries and even more obscure things such as leisure halls or recording studios.

You cannot insure these under other types of insurance unless you are also looking to insure things such as the stock, or the goods that are kept in the property in which case you would need a commercial combined policy which would include things like public and employers liability insurance for the people that work within the premises, but if it is just the bricks and mortar and loss of rent cover you are looking for then this is the insurance for you.

There are certain circumstances where you may still not be able to get an instant figure for example if the property was in a high risk area of either subsidence or flooding then it would have to be referred to the insurance company and the same if the property has either construction that is beside the normal or if the load bearing walls or the roof had been touched during any building work that may have occurred at the property in question.

Aside from that if you know things such as the postcode and full address, the rebuild cost of the property, the commercial use of the property and the year of build and construction details then that should be enough to get a quotation for this. There are certain insurers however that are wary about certain trades especially if one of those involves cooking of any kind as they are obviously more high risk than others and some insurance companies will have to manually look at any proposal for this kind of building before giving a quotation on it.