Whatever type of business you run, it’s vital that you consider obtaining commercial property insurance. It may not be a legal requirement to have it, but failing to consider this type of insurance may put you and your business at risk. Commercial building insurance will protect your company from unforeseen circumstances, whatever premises your company works from or within – the only exception being if you are an individual working from home.
Without this safeguard in place, you won’t be protected should your property be affected by flooding, fire, vandalism or other types of damage.
An unforeseen incident could have a negative impact on the running of your business, causing a drop in productivity, loss of income – and even the closure of your company. Without commercial buildings insurance, your business could unravel in a matter of hours, should your firm suffer a catastrophic event.
It’s therefore wise to protect yourself from disaster by obtaining the right insurance cover for your business. There’s a variety of bespoke elements that can be included as part of a policy because of the wide range of eventualities and business types. The key is to find the correct fit for you.
The level of risk to your company will need to be assessed and you should know exactly what you’re paying for. Usually, commercial building insurance will cover damage to the structure of your property and its contents, including issues caused by fire, flooding and vandalism. It also often includes employer’s or property owner’s liability insurance, which means you’re covered if any third party is injured on your firm’s premises.
Loss-of-rent insurance can also be included in a policy, as well as rent guarantee cover. Plus, you can insure your building against subsidence and other ‘special risks’.
The team at Rigby Financial have the knowledge and expertise to search the marketplace to find insurance tailored to your needs, at the best possible price. The full-service broker provides friendly, bespoke advice and products for clients across the UK. With the correct commercial building insurance in place, your company is likely to recover more easily from any losses you may experience in the event of something going wrong. So it’s an investment that is well worth making, even if it’s just for your peace of mind.
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