Protecting your commercial property against all risks, whether you are an individual or company.
Commercial building insurance is essential if you own the building in which your office or business is located, whether this is a shop, showroom, office or warehouse, and whether you have a single property or portfolio of properties.
Tailored cover to meet your individual requirements
We have extensive experience arranging bespoke insurance to meet the needs of all types of commercial property owners, including private individuals, investors, property developers and companies, ranging from retail outlets to office accommodation, showrooms to warehousing and workshops.
We understand that the requirements of commercial property owners can be complex, with no two clients alike, calling for flexible, tailored cover to meet your exact requirements. With access to leading insurers and specialist underwriters, we can arrange the optimum solution, ensuring your commercial property is protected against insurable risks.
Standard risks include:
- Rebuilding costs
- Building defects
- Flood, fire and storm damage
- Accidental damage
- Trace and access (locating damage to cables, underground pipes and drains or the source of a gas or water leak)
- Emergency services
- Loss prevention costs
- Land decontamination (after an accidental oil or water spillage)
- Damage to trees and plants
- We can also advise on portfolio management, business interruption, void properties, legal expenses, and product, public and employers’ liability
- Specials risk management services are also available.
Most insurers include the ‘average clause’ in policies, which means they can reduce any claim by the percentage that you are underinsured. For example, if your building is worth £200k but you only insure it for £100k, any claim could be reduced by 50%. So if you were to file a claim for £50k, your claim settlement may be reduced to £25k. An accurate rebuild cost can be provided by a qualified surveyor or there are various free ‘rebuild’ calculators online that can help you work out your rebuild cost. You can find out more by contacting the Building Cost Information Service (BCIS) at: www.bcis.co.uk and by speaking with your PIB Insurance representative.
Standard construction refers to a property built from brick or concrete, with a roof built from slates, tiles, metal, concrete or sheets of incombustible mineral ingredients, with plastic roof lights. Non-standard construction refers to the use of any other type of building materials.
If you are running a business from the property, you will require tailored insurance to meet your specific needs, ensuring you are protected against known risks. Once we have ascertained the nature of your business, PIB Insurance Brokers can provide a tailored quotation for you.