Commercial Property Insurance For Freeholders

Commercial Property Insurance

Horner Blakey offers commercial building insurance for freeholders and landlords via our specialist knowledge and insurer market contacts and underwriters.

As a commercial property owner, safeguarding your investment is paramount.

Whether you own a single property or manage a diverse property portfolio, we have the right insurer relationships and knowledge to obtain coverage options for your commercial property placement.

Commercial Property insurance offers peace of mind by covering potential risks associated with owning and renting out commercial properties.

Here at Horner Blakey, we make the process easy and hassle-free to ensure you have the right level of protection catered exactly to your specific properties and investments.

Get a quote and learn more about our different commercial building insurance for freeholders by contacting our dedicated Property Team, for more information please contact Jason Ellis on 0207 929 0108 or info@hornerblakey.co.uk

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What is commercial property insurance?

Commercial property cover is placed onto a tailored insurance policy wording which allows for various legal ownerships and occupation i.e Freeholder, Leaseholder and tenant occupancy. The policy wording and cover that suits these requirements is the Property Investors policy form, it is designed specifically for those properties where space is leased to third parties in the buildings they own.

This type of insurance policy protects against a range of risks, including the cost of rebuilding or repairing the property following an insured event such as fire, flood, or accidental damage.

For commercial freeholders, this coverage is vital in ensuring that their assets are protected from unforeseen circumstances that could lead to significant financial loss.

Horner Blakey offers various levels of cover and claims handling propositions tailored to meet the unique needs of commercial properties, whether you require basic commercial building insurance for a building leased as office space or have a specific development where the building is leased to multiple occupants, such as retail tenants, restaurant operators, tenants in the hotel or hospitality arena we can arrange a comprehensive policy that includes additional protections such as Lift and Engineering cover, Property Owners’ Liability insurance and Terrorism cover.

Speak with our Property & Real Estate team on 0207 929 0108 to learn how we can help protect your assets and commercial property.

Why Do Commercial Asset Owners Need Property Insurance?

While commercial building owners are not legally required to have commercial property insurance, it is an investment asset that provides a return on investment and therefore the insurance provides comfort and knowledge that your investment asset is insured correctly to combat any potential financial losses following a claim or loss. Without this insurance the full cost of repairs or rebuilding the asset would fall to the asset owner and any commercial loans or finance agreements could be in breach.

Banks and financial institutions have minimum insurance requirements that will need to be complied with, we are familiar with banking and financial covenants that will need to be incorporated for properties being acquired and to ensure banking covenants are complied with.

What Does Commercial Property Insurance Cover?

The specific coverage can vary depending on the policy, but generally includes or can be tailored to include:

– Commercial Buildings Insurance

– Property Owners Liability Insurance

– Loss of Rent, Loss of Service Charge

– Commercial Legal Expenses

– Common part Contents Insurance

– Terrorism Insurance

– Lift Insurance and Inspection

Do Tenants or Leaseholders Need Property Insurance?

Tenants who rent commercial properties are not responsible for the commercial property insurance but via the freeholder / leaseholder mechanism will be recharged the cost of the insurance linked to the area they operate from within the building. Tenants will be responsible for their own shop keepers policy or operators policy to cover their trade or specific business activities, this would include but not be limited to stock, equipment on site, employers liability cover, liability requirements for any contracts or work undertaken and business interruption.

Additional Options for Commercial Asset Owners

Horner Blakey has a wide range of agencies with the main UK property and Real Estate insurers providing both package policies and bespoke policies.

Our solutions include those clients who own shopping centres, industrial units, office buildings, multi occupied assets with different tenants operating across different business sectors and mixed use Commercial and Residential assets.

Get in touch with Horner Blakey today to arrange cover for you your commercial assets and ensure your investment is fully protected. Call 020 7929 0108 to speak with an insurance specialist and receive a bespoke quote tailored to your needs.

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Commercial Property Insurance For Freeholders