Empty Commercial Property Insurance

As the owner and/or property manager of a commercial property, your building may occasionally be empty. This may be for a temporary amount of time between tenants moving in and out, or it may be for a period of time while the property undergoes some essential maintenance. Whatever the reason for your commercial property lying vacant, it’s important that you have the right insurance in place that covers you while your premises is unoccupied.

If your property will be vacant for a short or long period of time, then your current insurance may not cover you. This is because there is less risk associated with buildings that are occupied (whether full-time or over certain hours, for example the nine to five working day). Unoccupied buildings on the other hand tend to be at more risk of things like damage, damp, theft, flooding or squatters – as they are not as regularly maintained or monitored. All of these risks and more must be factored in by your insurer and insurance policy and so it is important that you get in touch with an insurer or broker (like Ellis David) that can help you to be certain that you have the right policy in place.

To help you think about the key things that you should consider when insuring a vacant commercial property, we have compiled them in this handy guide. This should help to ensure that you have the answers you need in order to receive a quote.

How long will your property be unoccupied for?

This may be an unknown number for some property owners or managers, but for others, the time the property will be vacant for will be known. How long your property will be empty for will impact the policy that you need, so whether your property will be vacant for three, six, twelve months or longer, you should let your broker or insurer know so that they can find the right policy for you.

To get a quote, contact our team of experts today – and if you are unsure as to how long your building will be unoccupied, then rest assured we can gather more information to make sure that you are matched with the right policy that gives you the appropriate level of coverage.

Why will your property be unoccupied?

There are some instances whereby the circumstances of your property being vacant are of importance to the insurer. For example, if your property will be vacant while you undergo significant building or improvement works, then you may require more specialist insurance which covers you for building work. This may be particularly important if your building is adjoined to other buildings and the nature of the work is fairly structural.

What is the value of your property and its contents?

It’s important that your broker and/or insurer knows exactly how much the property is worth and has disclosure over the contents that will need to be covered by the policy.

When your property is empty, will the contents be emptied too? When it comes to commercial property, there may be millions of pounds worth of contents held within the building – such as computer equipment, data, raw materials, machinery and more. If you need help valuing the items within your empty commercial property, then get in touch with our brokers and we can discuss this in more detail with you.

Policy terms

It’s worth considering the terms of the policy. This is where it can really pay dividends to get in touch with a specialist broker like Ellis David. This way you can speak to a team of experts that have many years experience organising both private and commercial property owner cover. Our team will be able to give you competitive quotes and expert advice, as well as ensure that the policy is able to be converted, should your property become occupied sooner than you expected.

To find out more about insuring a vacant commercial property, get in touch today for a quote.

Have you ever been convicted of any offences involving fraud, theft, false accounting or other dishonesty or an offence (whether or not in the United Kingdom) relating to companies, building societies industrial and provident societies, credit unions, friendly societies, insurance banking or other financial services, insolvency consumer credit or consumer protections, money laundering, market manipulations or insider dealing? (required)	YesNo
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Have you ever entered into a deed of arrangement or an individual voluntary arrangement (or in Scotland a trust deed) or other agreement in favour of your creditors, or are you doing so? (required)	YesNo
Have you ever been found guilty of conducting any unauthorised regulated activities or been investigated for possible conduct of unauthorised regulated activities? (required)	YesNo
Are you, or have you ever been, the subject of an investigation into allegations of misconduct or malpractice in connection with any business activity? (required)	YesNo
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Have you ever been a controller, director, senior manager, partner or company secretary of a company, partnership, or unincorporated association? If you answered "no" to question 8 you may proceed to section 12. Please tick (required)	YesNo

In respect of activities regulated by the FCA have you, or any company, partnership or unincorporated association of which you are or have been a controller, director, senior manager, partner or company secretary, during your association with that entity and for a period of three years after you ceased to be associated with it, ever - (required)
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- been put into liquidation, wound up, ceased trading, had a receiver or administrator appointed or entered into any voluntary arrangement with its creditors? (required)	YesNo
- been declared by a court liable for any fraud, misfeasance, wrongful trading or other misconduct? (required)	YesNo
- been investigated or been involved in an investigation by an inspector appointed under companies or any other legislation, or required to produce documents to the Secretary of State, or any other authority, under any such legislation? (required)	YesNo
- been convicted of any criminal offence, censured, disciplined or publicly criticised, by any inquiry, by the Takeover Panel of any other governmental or statutory authority or any other regulatory body (other than as already indicated under 10 b))? (required)	YesNo
Are you currently a director of any company other than one which is a part of this company? (If “yes” please give details on the supplementary sheet). (required)	YesNo

Things to consider when insuring an empty commercial property

How long will your property be unoccupied for?

Why will your property be unoccupied?

What is the value of your property and its contents?

Policy terms

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