Commercial Landlord Insurance
- Building insurance
- Business Interruption – Loss of rents & standing charges
- Public & Statutory liability cover
Many landlords only take a 12-month indemnity period on their loss of rents policy.
Should the building need to be demolished this may not be long enough to demolish the old building, design, consent and construct the new one. This is especially true if the cause was a major event like an earthquake, where professionals & tradesmen will be in short supply. Many landlords forget to include the standing charges (Body corp fees, rates, insurance etc) in their business interruption policy, if the building is badly damaged the lease normally terminates meaning there is no tenant to covers these costs.
P damage – P damage happens in commercial buildings the same as in residential homes, our policies can include P damage.
It’s important that landlords get an insurance valuation every 2 years’, as building costs can increase quickly and otherwise you may not have enough cover to replace your building.