Commercial Property Insurance

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Why Compare Commercial Property Insurance With SimplyQuote

Are you a landlord of a commercial property in the UK? Then it’s time you thought about commercial property insurance.

We understand comparing numerous business property insurance quotes can be stressful, time-consuming and downright overwhelming. Luckily, SimplyQuote’s 100% free comparison tool streamlines the process within minutes, allowing you to focus on what’s important: managing your business property!

Quickly compare property insurance quotes for your commercial premises from multiple UK insurance providers the easy way – with SimplyQuote’s online comparison tool.

What Do You Need To Get A Quote?

Before getting a business insurance quote, you’ll need to gather and provide the following information:

  • Personal details – name, surname, contact numbers
  • Property details – physical address, property age, any renovation/upgrade information
  • What industry your commercial property is in (i.e. warehouse, manufacturing, cafe)
  • Employee information – including casual/part-time workers
  • What level of property owners’ liability cover you would need
  • Optional extras you may be interested in (e.g. business interruption protection)
  • Claims history details

Why Do You Need Commercial Property Insurance?

What Does Commercial Property Insurance Cover?

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What Types Of Commercial Property Insurance Available?

There are two main types of business insurance available for commercial premises in the UK, namely:

Buildings insurance

This insurance is for any damage done to your business premises such as accidental damage. This is one of the most common types of business insurance and it’s almost always worth investing in.

Some insurers may include cover for solar panels in their buildings insurance policy, but it’s best to verify this with them directly.

Note: This option only covers the physical structure and building fixtures and fittings.

Contents insurance

As the name suggests, this insurance covers the contents of your business property (i.e. the items inside). The exact contents that are covered will depend on your chosen insurance policy.

Contents insurance will cover accidental damage, theft or both. If your property houses expensive equipment then it’s highly recommend checking out content cover!

Note: This option only covers items inside the business property and does not cover the exterior.

What Add-Ons Are Available For Commercial Property Insurance? 

There are a few extras you can add to your commercial property policy as you might find you want a little extra coverage over and above standard building insurance.

A few commercial building insurance extras include:

Employers liability insurance

This is a legal requirement if you employ more than one person on your business property, such as cleaners or groundsmen.

Public liability insurance

This cover protects you if someone other than yourself (i.e. a tenant or visitor) is injured on your property, or if their property is damaged. For example, if a visitor slips in a puddle where you are mopping and breaks their leg.

Professional indemnity insurance

This protects you and your business from third-party claims in case you offer professional advice or services and happen to make an error.

Business interruption

Depending on your business’s service, interruptions could massively impact your monthly profit. With business interruption insurance, you will be covered in the event of any long-term interruptions that impact your operations, such as power cuts or flooding.

Cash cover

Some insurance providers may often provide cover for money on your business premises but this generally is capped at a certain amount, say £2,000. This type of add-on is great especially if you deal with daily cash payments, such as restaurants, bakeries and cafes.

Cyber and data

With today’s focus on all things digital, cyber and data insurance can be worth considering. A decent cyber plan will protect you in the case of data loss or malicious access to your company’s servers.

Contents insurance

You need contents insurance if you rent business buildings with furniture, equipment or other interior furnishings. This is to ensure these items are covered in the event of accidental damage.

Commercial landlord insurance

Commercial landlord insurance is extremely similar to your typical commercial insurance but with a focus on landlords. This offers additional protection if you are looking to rent your business property out.

Most business property insurance plans will already cover renting out your property, but it’s always worth checking to be on the safe side!

Accidental damage cover

This protects you if your tenants accidentally damage your building or contents, such as damaging the wall when hanging picture frames.

How Much Does Commercial Property Insurance Cost?

RegionBuildings Insurance (£) Building and Contents Insurance (£)
West Midlands £72£187
Greater London £95£309
South West£68£196
South East£72£237

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How To Get Cheaper Commercial Buildings Insurance

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Frequently Asked Questions

What is commercial property insurance?

Commercial property insurance is a type of building insurance needed to insure commercial properties.

Building owners who rent their property to a business or are running their own operations can take advantage of a commercial insurance policy. This will help cover costs associated with a range of hazards such as theft, rebuilding, repairs, fires and even flooding.

When is a property classified as a commercial property?

Commercial properties are buildings used for business activity; meaning it is not used as residential/domestic dwellings.

Is commercial property insurance a legal requirement in the UK?

No, commercial property insurance is not a legal requirement in the UK but it’s recommended to have this type of insurance policy in place. It can potentially save you hundreds of pounds in the long run should anything happen to your property.

Is employers’ liability insurance a legal requirement for UK businesses?

Yes, if your business operates with more than one employee, you will need employer liability insurance. This is to ensure you and your business are protected against any claims should a staff member get injured whilst on duty (i.e. on the business property).

Is contents insurance worth it?

The short answer is: it depends.

If your business uses large, expensive machinery, as seen in manufacturing or hospitality, then yes, contents insurance is definitely worth it. Without it, you (the business owner) would have to fork out your own money to cover the replacement or repair costs; which can be a financial blow for small businesses.

Do tenants pay for business property insurance?

Generally, if you don’t own the commercial property you don’t have to pay for commercial buildings insurance as this responsibility falls on the landlord. It is, however, recommended that you take out contents insurance at your own expense.

What are commercial landlords responsible for?
  • Business premises maintenance and repair
  • Gas, electricity and fire safety
  • Asbestos removal
  • Business building insurance (while not a legal requirement, it is recommended)