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Commercial Building Insurance

At Assetsure, we are able to offer insurance quotes for a broad variety of commercial buildings located within the United Kingdom. We have an extremely wide list of tenant or owner occupied trades and occupations that we can accept. We will consider most types of building for insurance and usually can offer terms if there is an element of non standard construction.  We provide insurance quotations for an extensive range of property types including, offices, shops, factories, industrial units, property used for leisure purposes and even religious buildings, most property types can be covered. We can quote for most scenarios and look forward to receiving your quotation request.

Insurance quotations are provided by a specialist “Quote-desk” facility. In the vast majority of cases, we are able to provide a quote within a few hours. The building insurance policy that we offer has been especially developed with the commercial landlord property owner in mind. We are quite happy to quote for single risks. For the property owner with multiple buildings, we are able to offer discounted insurance premiums. Own more than five properties? Please enquire about multi- risk premium discounts.

One of the best features of the policy is that property can be added or deleted throughout the year. This assists landlords to manage their commercial building portfolios more easily as mid- term adjustments will be dealt with on a “pro-rata” basis.  We offer a direct debit facility which makes paying for your insurance easy and convenient.  Our standard definition is a building that is either owner occupied or rented to tenants. However, we can in many cases quote for empty or partially vacant commercial buildings. In the unoccupied commercial building scenario, every case will be rated on its merits. We welcome your enquiry for a quotation request.

Introduction to Commercial Building Insurance

– when providing quotations for commercial building insurance, an “insurance company” will take a number of factors in to consideration when calculating their premium. Firstly, they will want to know the construction of the building. If it is made from bricks or stone and roofed with metal or slates or tiles then this is generally considered being, “standard construction”. Buildings of standard construction will attract the best rates. The insurer will also want to know if the floors are concrete or made of wood as concrete floors provide a better fire break. If the property is not purpose built or has a flat felt on timber roof, it is possible that loadings may apply. Other types of commercial property for instance, may be listed or have different building materials used in the construction, these also may attract higher insurance premiums. Secondly, the use of the building has an effect on the insurance quote, in simple terms the higher chance of there being a fire, the higher the commercial building insurance premium. Close attention is paid to the use of the building and to the type of goods or materials stored on the premises, anywhere storing flammable materials is likely to attract a higher rating. Other factors are also taken in to consideration such as the age of the building, the postcode, which helps determine the susceptibility to flooding or subsidence and of course any previous claims experience. We can provide cover for a wide range of trades, including:-

Office Buildings– commercial buildings used as offices are generally considered being one of the safest risk when it comes to insurance. There are almost no trade processes carried out in an office, and their primary design is to provide a workplace and a working environment for administrative workers. Although some are made from converted houses or former factory premises, the bulk of office space in the united kingdom is purpose built and of several floors in construction. Often a company will buy an office block and occupy one or more of the floors then rent the remaining portion of the building to a tenant. Office blocks are popular with companies and they often contain reception areas and catering units. As well as office insurance for the bricks and mortar of an office block, insurance can be arranged to cover the lifts and boilers for engineering inspection cover. Because office space is mainly used for clerical purposes, often insurers do not make the distinction between buildings that are owner occupied or rented out. Attention should always be paid to the loss of rent section of the building, though it is sometimes possible for tenants to obtain increase cost of working cover under their own business insurance policy which will help them find temporary alternative accommodation in the event of a serious claim occurring at the premises.

Warehouse – a warehouse is a form of commercial building that is used for storing goods. Many have an area that is set aside for use as an office. Warehouses are used by a variety of trade’s including; manufacturers, importers, exporters, wholesalers, transport companies and customs (bonded warehouses). Warehouses are not always constructed to the same high standards as other types of commercial buildings. They are mainly found away from town centres. Away from central areas, you have the benefit of easier access and cheaper land prices. Many towns in the United Kingdom will have an industrial or business park where warehouse units can be found. Warehouses are frequently constructed of concrete block with a corrugated roof. Modern units are constructed of metal. Standard building insurance perils can be obtained in most cases although the insurer will certainly want to know the type of items being stored at the premises. Good access to this type of building is of paramount importance. Goods are usually stored on pallet racks to facility easy lifting by fork lift trucks on to road or rail transport.

Retail Shop– The most popular form of commercial building in the United Kingdom is the good old retail shop. We are after all a nation of shopkeepers, every high street in the country is lined with shops of all sizes and descriptions selling every kind of goods or merchandise imaginable. Regrettably, many high streets now have several if not more unoccupied commercial buildings and sometimes, insurance for these properties can be harder to obtain. We at Assetsure can consider unoccupied commercial buildings and in may cases can supply quotations. Shops vary from the small purpose built kiosk that you often see sighted at railway stations, airports or in the pedestrianised areas of shopping malls or arcades. These are usually catering or gift vendors or newspaper sellers. Your traditional shop is located on most high streets and will often be converted from a former domestic dwelling house.

Often a portion of the roof will be flat as invariably the property will have been extended over the course of it’s life. Upstairs you will often find self continued flats, these are usually rented out on an assured short hold tenancy agreement or sometimes used for storage of the shops goods. Larger department stores occupy purpose built buildings in towns and cities although in smaller towns, the tendency now is to relocate to an out of town location where land is cheaper and larger buildings can be constructed using modern building techniques and perhaps not having to be quite so sympathetic to other properties in the area. At out of town sites, planning considerations are more relaxed. For shops, it is very easy to obtain a full range of insurance perils for either landlord or owner occupiers.

Factory – Previously known as a manufactory, these properties with their demand for large amounts of labour were often constructed in urban areas or indeed as is the case with the Cadbury factory at Bourneville in Birmingham, they became their own ‘urbanization’. Nowadays, factory buildings differ little from warehouses in their construction. Factories and warehouses are often sighted away from central areas. Town planers prefer industrial parks or cheaper brown fill land on which to locate factory or warehouse buildings. An aspect where they do differ is that although goods are often stored at the premises, they are also made at the premises, so any insurer will want to know exactly the type of trade processes that are being carried. The type of trade and materials stored on the premises can affect the building insurance premium.

Commercial Building Insurance UK. Obtain a quote from Assetsure.