The complete guide to commercial landlord insurance

You are a commercial landlord if you operate your own business from a property or rent it out for other businesses to use as their company premises. Similarly to residential landlords, commercial landlords can benefit from their property generating a steady long-term income. 

At CIA, we are energetic landlord insurance specialists who know our stuff. Alongside comprehensive residential and holiday home landlord insurance, we also have 20+ years experience in providing commercial landlords with commercial landlord insurance. If you own shops, offices, warehouses, factories, restaurants, bars, industrial units, or hotels, we can find you a bespoke landlord insurance policy that fits. 

Here, we give an overview of commercial landlord insurance and why commercial landlords ought to have it.

Why is commercial landlord insurance important? 

Commercial landlords have a fair number of responsibilities. They are responsible for providing the property with energy, ensuring the building is in line with safety regulations (for example accessible fire doors and fire extinguishers for fire safety), and maintaining and repairing the property and its structural fixtures, including walls and roofs.

Having a solid commercial landlord insurance policy as back up is crucial, particularly if you own a large commercial property with high maintenance costs. Compared to residential properties, commercial property investments will require you to dig deeper into your pockets. So, you need a robust commercial insurance policy to protect your investment, mitigate against risks, and give you backup for any tenant claims.

Is commercial landlord insurance a legal requirement? 

Having commercial landlord insurance isn’t a legal requirement, but owning a commercial property is a major investment, so, in reality, it is a good idea to take one out. We at CIA Landlords highly recommend that you protect your asset through a secure commercial landlord insurance policy.

What does commercial landlord insurance cover? 

Now, you may be wondering what sorts of things landlord insurance will cover you for. Commercial landlord insurance gives you buildings insurance to cover internal and external structures. It also covers fire, storm, flood, and water damage, as well as vandalism and theft. If your tenants cause damage to your commercial property, your commercial landlord insurance policy will come into effect.

We offer customers affordable landlord insurance at CIA, including custom commercial landlord insurance packages from top providers. Get a landlord insurance quote today to learn more about our competitive prices.

What doesn’t it cover? 

There are certain things your commercial landlord insurance won’t cover. Policies will not cover wear and tear, damp, nor tenants’ contents (unless you have provided furniture for a commercial property yourself, for instance.). 

What are the benefits for commercial landlords?

Let’s talk a bit more about the upsides of being able to rely on commercial landlord insurance as a cushion. Robust commercial landlord insurance will

• Give you peace of mind
• Cover your commercial property against a broad range of damages and risks 
• Help protect your investment
• Enable you to continue renting out your property on a long-term basis to business tenants
• A constant source of income requiring minimal time and effort.

Who is responsible for commercial building insurance, landlord or tenant?

Landlords are responsible for providing building insurance for commercial properties that they rent out. However, landlords can choose to pass on the cost of the commercial building insurance to the tenant. 

Commercial tenants must insure their own contents

If your commercial tenants have furnished your commercial property with their own furniture, gadgets, computers, machinery, and so on, then they must take out their own separate insurance policy to cover themselves. 

Want to take out commercial landlord insurance for your commercial property investment? Get a quote today or call us on 01788818670 or send an email to info@cia-insurance.co.uk.