simple project managementColoringNotebook
Commercial Landlords Insurance | Main eInsurance

Commercial Landlords Insurance

by maineadmin on October 30, 2011


Being a landlord of any property can be challenging enough but managing a commercial property is a completely different kettle of fish. Standard landlords insurance probably won’t provide you with enough cover as a commercial landlord as it can provides its own set of challenges.

Commercial landlords insurance takes into account that you will most likely have more than one property and property type, and that you need additional cover to protect your tenant’s businesses, as their income is their livelihood and the source of your rental payment.

In the event that anything happens to the property to prevent the business carrying out its day to day activities, the tenants will have a right to withhold their rent. In the life of a commercial landlord, properties can change on a regular basis, so always check that your policy will not apply huge charges for adapting your policy.

There are different types of commercial landlords insurance, for example, coverage for the basic threats to any building such as fire and storms is known as flee cover. This would be most applicable to an unoccupied property, but then once it is occupied you should be able to extend the cover to full commercial landlords insurance.

Within the policy you should be able to choose from buildings insurance, contents insurance, legal cover, and loss of rent or business interruption insurance. Commercial landlords will only require contents insurance if the property contains some of their items such as bathroom fittings or kitchen equipment.

When you apply for Commercial landlords insurance you probably need some documentation to hand to provide the required information. This could include details of any loss or damages related to the property you are trying to insure and the rebuild value of the property.

If you are looking for a suitable Commercial landlords insurance policy make sure you compare quotes online. There are plenty of online price comparison tools which should be able to help you make a decision, however, if you would like a bespoke quotation, it may be more feasible for you to contact the insurer directly.

Comments on this entry are closed.