Commercial Building Insurance

We understand the risks facing owners of commercial property and can arrange flexible, tailored cover to ensure you are adequately insured.

Commercial Property

Commercial Building Insurance

We understand the risks facing owners of commercial property and can arrange flexible, tailored cover to ensure you are adequately insured.

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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.
A commercial property is defined as one that is used for business activities, such as offices; retail stores and shops; industrial warehouses and factories; leisure & sports facilities; hospitality (hotels, pubs, restaurants & cafes); storage & distribution facilities; and healthcare (medical centres, hospitals, nursing homes).
A number of different factors determine the cost of insurance, including the building’s location (properties in major cities may have a higher rebuild cost than those in towns and villages); business use (e.g. offices may represent lower risk than a factory or pub); occupancy (if you share the building with a higher risk business it may affect your premium); construction (e.g. non-combustible materials present less risk of fire damage); and security (security alarms and added fire protection can help to lower the cost of insurance).
Commercial building insurance can cover: the building from such risks as fire, flood and vandalism); fixtures and fittings included as part of the tenancy if the building is rented; contents that you own; and any fencing and landscaping on the property. You can also insure against your loss of rent resulting from a material damage claim to the building, as well as other covers such as terrorism and legal protection
Property owners liability covers your legal liability to a third party for death or injury and/or loss or damage to property through negligence. If you are the landlord of the premises, it’s your responsibility rather than the tenant to ensure the property is adequately maintained. For example, if a third party was to injure themselves after tripping on a loose step in the entrance of your property, you would be held liable. Property Owners Liability limits are usually set in millions of pounds as required or as advised by your insurance broker.
You should consider liability insurance if any of the following is applicable to you: visitors attend your place of business, you or your employees work off site on a regular basis, you provide services or advice for a fee, you employ or supervise people. 
This is a vitally important aspect of commercial building insurance as it covers the costs for repairing or rebuilding should your building be damaged or destroyed. You must be insured for the full cost of rebuild. If you are under insured (because you have stated the rebuild cost as less than it is) you may not be able to claim for the full rebuild cost, which could be financially catastrophic.
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: 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.

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