Commercial landlord insurance

What does commercial landlord insurance cover?

A commercial landlord policy will cover you against specific risks linked to shop, office, and other commercial tenants. Here are just a few things that your Simply Business policy could cover: 

• From damage in a fire to sudden flooding or vandalism, buildings cover could pay for repairs and rebuilding. We’ll also check whether you need contents cover for shelving or appliances you provide to your tenants
• Small accidents can cause big claims, whether it’s down to a trailing wire or a loose tile. We’ll include landlord liability insurance to keep you, your tenants, and their customers covered
• Business interruption cover (or rental income protection) is also an important option, to keep you and your tenants trading following an insured and unexpected event, such as a flood.

Remember, a commercial landlord policy covers you for risks attached to third party businesses renting from you. If your tenants are living in your property, you’ll need a specific residential landlord insurance policy, or a combination of both, through comprehensive landlord insurance.

Watch the details

It’s very important to make sure you understand what you need from your commercial landlord insurance. Use the check points below to get you thinking.

• Is your property a leasehold? If so, check with the property manager whether you need to buy buildings insurance, as this is often already covered by the freeholder
• If you employ people, even in your own home, you’re legally obliged to take out employers’ liability insurance. Not doing this could lead to a heavy fine
• Make sure you read and understand any exclusions to your policy. Simply Business offers you the chance to read the policy documents in full before you buy
• Remember that conventional home insurance policies will not cover a buy-to-let property
• You should state the rebuild cost of your property, not its market value, if buying buildings insurance