Spend some time entering details about your property. You’ll get access to a variety of quotes so that you can find the right one to suit your personal needs.
Compare the UK’s most reputable policies and prices to find the right insurance plan for you.
Choose a policy. Your cashback will be on its way and in your account in less than 60 days.
Also referred to as landlord business insurance - commercial property insurance is a specific insurance type that is taken out against a property that you use to operate a business from. Much like regular home insurance, this covers bricks and mortar, and the contents within, keeping your business' income and assets safe in the event of an accident.
You are legally required to have commercial property insurance against your business’ premises if you have a mortgage against it, just like you are required to have domestic home insurance for the same reason.
However, if you own the building outright, then you are not legally required to have buildings insurance. It is worth having though, as it is a small price to pay should something happen out of your control which would require major repairs or even rebuilding the property. To do this outright can be very expensive.
Similar to domestic home insurance, there are three types of cover you can take out against your commercial properties, too. These include the following:
This protects the bricks and mortar of the property. Should something happen outside of your control, due to natural disaster or damage to internal systems such as a gas leak, then buildings insurance will cover any expenses.
Contents insurance protects everything that can be physically picked up and taken out of the property. If you operate from the premises and don’t rent it out, you should consider contents insurance to cover your assets in the event of a natural disaster or theft.
This cover is most recommended as it protects your buildings and contents due to damage, theft or natural disaster.
It is important to fully understand your policy when applying for commercial property insurance. As this is used every day by your staff and colleagues, or perhaps it’s rented out to a third party, you are required to make sure it is safe for use. Having the right insurance policy will help protect your buildings and content.
If you’re a landlord with several buy-to-let properties, then you can combine your portfolio under the same insurance policy to save money and hassle. It is worth checking with your insurer when putting together a quote.
This cover protects you for any claims made against you in respect of damage to third party property or injury to third party persons, as a result of negligence relating to the property you are responsible for.
If something happens out of your control which deems the property to be uninhabitable for a period of time, then this covers you for any loss of rent incurred during that period.
This is an important type of cover to have, as some business premises are likely to be unoccupied for extended periods of time (evenings and possibly weekends). This cover provides protection against fire, electrical fire, arson and break-ins.
There are several factors that affect the price of an insurance quote for a commercial property, being aware of the exact cover you need is paramount for saving money. So it’s best to shop around to understand what you are paying for.
If you are located in an area with a higher crime rate, then you are likely to pay a little more for your insurance premiums. Properties located in bigger cities like London or Manchester will too experience higher premiums.
Properties built with non-combustible materials will usually get a lower quote for insurance because there’s less risk of fire damage. Be aware that contents can affect the premium, for example, furniture without fire-resistant coating.
An office building will probably cost a lot less than that of a restaurant or bar due to the public liability add-on.
If you have a shared business space then you’ll most likely pay more for your premiums if one of them poses higher-risk. For example, if a restaurant space is shared within offices, then you’ll likely be paying more.
Added security on site will lower premiums. So consider having additional fire safety protection and security alarms.
There are several types of commercial property, which include:
If you’re a small business with an office in the countryside, it is unlikely you will need public liability insurance, however, you should double check before committing to a claim.
It is critical to be open and honest with your insurance provider; otherwise, if you have not declared something about your business, your claim may be rejected.
By paying annually for your cover, you will most likely pay less for your overall premiums.
When you compare at Quidco, you’ll not only see a range of policies and quotes, you can receive up to £28 in cashback, too!
There are a number of factors that determine the price of the your policy, insurers will want to know the following information to gather a quote together:
Some insurers will require some personal information too, so be sure to have this ready when putting in your details for a new quote.
Accidental damage occurs as a result of an unintentional activity. It usually refers to one-time accidents that cause irreversible damage to flooring, walls, and windows. Normal 'wear and tear' damage, such as scratches on walls and floors, may not be covered.
Please note: by clicking the “Get a quote” button, you consent to your details being transferred to up to five insurance providers. The insurance providers will contact you via telephone to discuss your policy.
When using the Compare service, you must take reasonable care to answer insurers questions fully and accurately and if you volunteer other information, you must take reasonable care to ensure that the information is not misleading. If any information that you have provided changes before you take out your insurance, during the life of the policy or at renewal you must inform the insurer or broker of the change. If you deliberately or carelessly misrepresent any information in relation to this insurance, then your policy may not pay all, or part, of a claim and could in certain circumstances be avoided altogether.
*Cashback rates - £8 per valid commercial property insurance purchase.