If you are a commercial property investor you can have the potential to earn a great long term income over the years, especially if you have a robust tenant who is commercially successful. However, it is very important to protect your commercial investment – not just for your buildings and contents but also for your public liability insurance because people will be coming and going from the property.
There are many different options out there when it comes to buying commercial property insurance. Some companies even allow you to buy the building cover as part of an overall business insurance policy, which will be more convenient for you and save you money.
If you are a commercial landlord then it is imperative that you have specialist insurance to protect your investment and rental income.
So why is commercial property insurance so important? Here are some of the reasons why it is essential to have this type of insurance:
• Your property will be protected from fire, flood and other disasters that can cause damage to the building.
• You can also insure the contents of your building against destruction, damage, theft or loss. This policy will cover the cost of repair or replacement if the possessions of your business are damaged.
• It is also important to protect your fixtures and fittings, such as your kitchen units, shelving, flooring, counters, etc. You can purchase fixtures and fittings cover for these parts of your business.
• It is crucial to buy commercial insurance, not just for your building but also for the public liability cover. If many members of the public will be coming and going from your property, you will need to be covered in the event of an accident.
Sometimes if you work from home, your home insurance will not cover you for a home-based business office – which means that you would have to buy two separate policies. However, sometimes you can find a policy that would cover both your home and your home business contents.
When you are insuring your commercial property, it really helps to have a good local commercial property surveyor who is an expert in the type of property you are buying. They will be very valuable when it comes to helping you understand a complex landlord and tenant agreement and help you choose the right kind of insurance for your particular commercial property.
Get a great rate on commercial landlord insurance from Discount Landlord today!