What is commercial property insurance?
Commercial property insurance can cover your business premises and contents against disaster. If your business owns its own property, it’s a way to ensure you’ll have the money you need to rebuild if the worst happens.
Get the right cover for your premises
A commercial property policy can protect your business premises against:
fire, lightning, explosion and earthquake
storm or flood
escape of water
damage caused by theft or attempted theft
accidental damage
riot, strikes and malicious damage
impact by aircraft or vehicle
You may need to give your insurer an estimated rebuild cost for your business premises. However, most insurers offer blanket cover, for example, £2 million.
Do I need to insure the building if I rent?
Your landlord will usually insure the building. However, check your rental agreement, as some landlords make tenants responsible for building insurance.
If your premises is already covered, think about taking out separate business contents cover.
Protect your business contents
You can cover the cost of replacing your business contents if they’re lost, damaged or stolen. This includes the following:
Fixtures and fittings: including kitchen equipment, light fixtures, and interior decoration
Equipment: things like desks, chairs, computers, shelving, and card machines, as well as tools and machinery
Stock: any goods sold or stored at your business premises. Business contents insurance can also cover seasonal increases like higher stock levels over Christmas
Goods in transit: stock and equipment being taken from one location to another, such as goods being delivered to a client
You can also include personal possessions to cover staff or clients' belongings.
Take an inventory of everything you own in connection with your business to get the right level of cover.
What else do I need?
You can add other types of business insurance to your commercial property policy, including:
Public liability, which covers injury, illness or death of third parties caused by your work
Employers' liability, which covers injury, illness or death of employees
Business interruption, which covers your income if you’re unable to trade
Find out what these types of insurance can cover here.
How to find the right insurance for your business premises
Our comparison includes policies from insurers who can provide commercial buildings and contents cover, along with other types of business insurance.
Use it to get as many online quotes as possible, so you can find the level of cover you need at the cheapest price.
How much will it cost?
The price of your commercial property insurance depends on:
the size of your business
the rebuild cost of your business premises
the contents, equipment and stock you need to insure
how many business locations you need to insure
Read more on finding the right insurance for your business
