01733 328000
Commercial Property insurance covers the cost of repairing or rebuilding your business premises, or replacing your stock or equipment. It covers you against risks such as fire, flooding, burst pipes (escape of water), falling trees, storms, riots, impact, subsidence and theft. The two main types of Commercial Property insurance are Buildings & Contents.
Buildings Insurance - Buildings insurance covers the cost of repairing or rebuilding your business premises if damaged or destroyed. You should always insure your business premises against the cost of rebuilding the property, including professional fees and the cost of clearing the site, which is often different to its sale price or market value. If someone else owns the building your business is in, you should check with the owner that insurance is in place and refer to the terms of the lease.
Contents Insurance - Contents insurance covers the cost of replacing your stock or equipment if it is damaged or stolen.
You should insure stock against its cost price without adding any amount for profit. If there are any times when you have more stock on the premises (for example, just before Christmas), you should make sure the insurance covers this.
Cover for other contents, such as furniture, plant, machinery and equipment can usually be insured either on “indemnity” or “replacement as new”. If indemnity is chosen, wear and tear will be taken into account when settling claims.
It is important that you set your sums insured according to the basis of cover in the policy to ensure you are protected as you would wish in the event of a claim.
We understand that each business encounters different issues and we will tailor your insurance to meet your business needs. We will help assess your requirements and offer guidance on factors to consider when selecting your cover and setting your sums insured. The following factors will form part of this process:
insurance@marlowgardner.co.uk
