Commercial Property Insurance
It is impossible to run a successful business without taking significant risks. No matter how diligent you are, no matter how much care you take in your everyday business dealings, there are still an infinite number of events outside your control that can blindside you completely and cost you considerably. It is for these unforeseen circumstances that you must prepare. Commercial Property Insurance is essential coverage for any business that holds physical assets. Although the property from which your business operates and the rest of the physical property that makes up your business may not actually be earning any money for your company, if something were to happen to that property, it could be very costly to replace or fix. This is why it is imperative to have relevant Commercial Property Insurance in place.
What Is Commercial Property Insurance?
Every company needs Commercial Property Insurance coverage. This insurance policy centres around protecting not only your building, but also all of the physical assets inside it, as well as many other kinds of physical commodity owned and used in the course of your business. That property can include everything from a single item of office furniture to a giant sprawling warehouse.
What does commercial property insurance cover?
Essentially, commercial property owners’ insurance covers the building in which you work, as well as everything in and just outside of that building. This includes:
- Computers and other technological equipment
- Office furniture
- Exterior signage
- Fences, walls and landscaping
- Property belonging to other people that is temporarily on your property
Commercial property insurance also covers assets such as money owed by your debtors and income lost when your business must cease operations due to a covered loss. With the right insurance provider, you can also tailor your coverage so that it includes added coverage for items such as valuable documents and records, enabling you to cover such costs as document reproduction, temporary storage and so on.
What are the risks of not having commercial property insurance?
Whatever kind of property you use for your business, it is essential that you protect yourself against unforeseen risks and potential incidents. If you’re not insured, you face more than mere financial loss. In the worst-case scenario, you could end up losing your entire property and indeed your business, leaving you unable to make a living.
Without the right insurance, you might not be able to recover if your property is damaged, broken into or somehow destroyed. Adequate cover also protects you and your property against other risks, including professional indemnity, public liability, claims of unfair dismissal, costs of legal proceedings, etc. Failure to take out appropriate property insurance means putting your business and your entire livelihood at risk.
Why contact Thompson Insurance Brokers about Property Insurance?
At Thompson Insurance Brokers, we know that every single business is as unique as its own insurance requirements. Therefore, it’s hugely important to us to tailor our policies to suit your specific circumstances. We are able to arrange flexible policies that adapt to the needs of policyholders. We have an integrated and personalised approach to combining all of our customers’ coverage requirements in a single policy package.
To find out more about what we do and the high level of service we provide, contact us today on 0121 796 0123 and we can arrange a quick Commercial Building Insurance or Commercial Property Insurance quote. With zero obligation.