Can you insure an empty commercial building?

Yes, and arguably it’s more important to insure your commercial property when it’s unoccupied. This is because if something happens in an unoccupied building, you might not know about it straight away, so the potential for severe damage is worse. Empty property insurance helps you manage the risk to a property until you’re able to find a new tenant.

Is insurance mandatory for commercial property?

No, but it’s highly advisable you have insurance to cover you and your commercial property. Not only to cover the property itself from any loss or damage, but to cover and protect you if someone was to make a claim for property damage or injury.

How much will my unoccupied property insurance cost?

This depends on a few things and the prices can often vary based on the requirements in your individual property, and the provider you choose. Typically, the cost of your unoccupied property insurance will be dictated by the value of the property, its location, the level of cover you need, any security that may be in place and also how long the property will be unoccupied.

What do I need to do if my property is unoccupied for an extended period?

You’ll need to contact your insurance provider to confirm the details of your cover for unoccupied properties. Your full cover for unoccupied properties will typically last for a specific period (usually 30 days, although it could be extended). After that your insurance might only cover events like fire while other common things like flooding, water damage and theft may no longer be covered under your policy until the property is occupied again.

Commercial

Unoccupied Commercial Property Insurance

Empty property insurance can help protect you from unexpected loss or damage to your building whilst it is unoccupied.

If you’re leaving your commercial property unoccupied whether it be due to a tenant vacating the property, a business move or a recent property acquisition, then you will require unoccupied commercial property insurance.

Although not mandatory, we believe it is good business sense to protect your asset itself from any damage or loss but also protects you if a third party makes a claim against you for injury or damage.

The cost of your unoccupied commercial property insurance will depend on a number of factors, including the construction, building sum insured, location, size of the property, future plans for the building, length of unoccupancy, any security features and the amount of cover you require.

At Coeus Insurance Management we’re here to help you navigate your options for unoccupied building insurance so you can find the right policy for you.

We’ll make the application process simple and can help you create the right insurance policy for your unoccupied property on your individual requirements. And one of our brokers will be with you every step of the way to answer any questions you might have.

Finding a tailored unoccupied commercial property insurance policy

Insurance for an unoccupied property is a specialised product and trying to find affordable insurance for a property that’s empty for extended periods can be tough. Many insurers are reluctant to insure these types of premises because of the increased risk of theft, vandalism, and damage from incidents like fire or flooding.

It’s not just the initial incident, but because the commercial property is unoccupied there’s a greater chance any damage or faults will go unnoticed for longer periods, potentially leading to more serious problems.

That’s why you need a specialist insurance broker with experience in the unoccupied property insurance market who can help navigate the best providers and find you the most comprehensive coverage for your commercial space.

Unoccupied Commercial Property Based in Liverpool

What can be covered under unoccupied commercial property insurance?

Unoccupied commercial property insurance can provide financial cover against a range of insured perils that could cause loss or damage to your property, including:

Fire, lightning, aircraft and explosions
Subsidence, Landslip & Heave
Theft
Malicious Damage
Accidental Damage
Flood and storm damage
Escape of Water
Property Owners’ Liability

Why We Are Right For You:

Our dedicated team of experts have in excess of 50 years, that’s how we know you’re in the right hands.
It’s hassle free! – our team will remain dedicated to your business.
Cost effective – we will source and implement the correct policy you require.
Communication is key – you can rely on our team to provide information, advice and guidance.
Independently owned – this grants us the freedom to place business with an insurer that is the most suitable.

Do you want to know more?

If you require further information or you are interested in arranging a FREE Unoccupied Building Insurance health-check for your organisation, contact our team today – we’re always happy to help.

Telephone: 08442160626

Email: info@coeusinsurance.com

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Your exceptional ability and knowledge impressed me on multiple levels; you listened effectively to what I was seeking and were extremely reliable and efficient in sourcing me the best possible deal available, and doing such in a sympathetic, timely manner and with excellent communication. I praise the entire Coeus team for their commitment and friendly approach.

- Managing Director , Winsulate UK

Gary and colleagues are super responsive and get back on all enquiries immediately, which is very important to our business. All areas of insurance, from public liability through transport and marine policies are organised for us, expertly, by Gary and his team.

- Chairman , Box Technologies Ltd

Working with Stewart has been great fun, he's charming and very focused. His pricing was the most competitive I could find saving me a significant amount off my existing premium. Once instructed I was wowed at the speed and organisation of the entire process. I hardly had to lift a finger. Stewart is one of the good ones.

- Director , Total Bathroom Restorations

Nothing ever seems to be too much trouble to your company and I never feel that I am just one of many clients that you and your office have to deal with each day. Your service from start to finish has been exemplary and on a professional and knowledgeable, yet friendly level that exceeds all other insurance brokers I have ever dealt with. Long may you set the standards for others to follow.

- Managing Director , Portland Block Management

I have known Gary Dunning for the best part of a decade, when we were first advised by him on business insurance matters. Since then our business has grown with many more complex, technical, insurance products needed. Additionally another company has been formed with very strict requirements. Both companies now enjoy the benefits of Coeus’ extensive advice.

- Chairman , Box Technologies Ltd