Commercial Property Insurance

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The UK Commercial Property Insurance Market

Insurance on commercial property is as important as insurance on a home. Damage to commercial property can mean loss of business and income to the owner.
 Standard Commercial Property Insurance can include the building and its contents, theft, fire, explosions and burst pipes. Extra cover for items such as legal cover and personal items can be added at additional cost. The cost of the policy depends on what type of cover is chosen and the location of the property. Commercial property insurance policies contain many exclusions, so it is important to fully understand the policy before buying.
 Commercial Property Insurance can be expensive, but good deals can frequently be found online. In addition, the greater the excess on the policy, the lower the premium will be.
 The landlord of a commercial building can purchase Commercial Landlords Insurance for his property. Such commercial properties can include one flat or a block, one shop or a chain of stores, office buildings, warehouses, factories, pubs and restaurants.
 Since the use of any commercial property can vary, so does the insurance it requires. For instance, a pub or hotel owner would want extra cover for loss of license.
 A shop owner might consider getting employee theft and loss of stock cover in addition to a standard commercial policy.
 The owner of a hotel must run his or her business by following an enormous amount of regulations. If he or she fails to comply with any regulation, then he or she is in breach of the terms and conditions of the Commercial Insurance policy.
 Usually, a standard Commercial Landlords Insurance policy covers public liability, malicious damage, vandalism and loss of rent. It probably will also include cover for landlordís contents, landlordís legal cover and emergency repair cover. When purchasing a commercial insurance policy, it is important to understand what is included.
 If a commercial building is unoccupied, it cannot be insured with a standard Commercial Landlords Insurance policy because of the additional risk involved with unoccupied property. In such an event, an Unoccupied Commercial Property Insurance policy must be purchased. Such a policy only covers basic peril and might be more expensive than regular Commercial Landlords Insurance.
 Adequate property insurance is crucial to any business. By shopping around, the owner can find the best deal to suit his or her needs.


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