Underwritten by: Certain Underwriters at Lloyd’s led by The Carbon Property Consortium 4996, which is led by Carbon Syndicate 4747
The Commercial Property Owners product is suitable for Individuals or Corporate entities who own or are responsible for insuring individual or multiple Industrial or Commercial properties (including minor residential aspects) that are tenanted by acceptable tenant types, owner-occupied or temporarily unoccupied.
This products provide insurance cover for buildings, contents, loss of rent and property owners’ liability insurance. In addition, Terrorism and Legal Expenses covers can be added.
This Commercial Property Owners’ product is not suitable for
- Properties occupied solely as residential properties.
- Commercial and Industrial properties that have been long term vacant ( > 5 years).
- Takeaways open after 12am.
- Grade 1 or Grade II* Properties.
Up to £4,000,000 Buildings Sum Insured per property
Automatic cover for Loss of Rent (Up to 20% of the Buildings Sum Insured)
Available for a Wide Range of Commercial Trades
Expanded Trade Appetite with strong appetite for Commercial Property Portfolios
NCD scale up to 25% for 5+ years claims free
Rates for Restaurant & Takeaways and Unoccupied Properties
Variable Levels of Unoccupied Property Cover
For the full Target Market Statement and supporting information please click here
Features and Benefits (Section 1 – Buildings cover includes)
- Additional Metered Supply Charges – up to £25,000 any one occurrence
- Trace and Access – up to £25,000 any one occurrence
- Accidental damage to any cables or underground service pipes servicing the buildings – up to £10,000 any one occurrence
- Automatic Cover – Newly Acquired/Newly Completed Redeveloped or Refurbished Properties – up to £500,000 any one premises (in respect of buildings and rental income)
- Inadvertent Omission to Insure – £500,000 ( Across Buildings and Rent)
- Alternative Accommodation to residential areas– up to 20% of the sum insured
- Fly Tipping – up to £5,000 any one occurrence
- Accidental Breakage of or Damage to Fixed Glass or Fixed Sanitary ware
- Loss of keys– up to £5,000 any one occurrence
- Theft of keys – up to £1,000 any one occurrence
- Professional fees and other Costs
- Illegal cultivation of drugs – Up to £5,000 in any one period of insurance
- Index Linking
- Unoccupied Definition – Building(s) that are not occupied for a period in excess of thirty (30) days
Features and Benefits (Section 2 – Rental Income)
- Loss of rent due to you up to 20% of the sum insured for buildings (or as stated in the schedule)
- Professional Accountants Charges incurred with our consent
- Accelerated Reinstatement Expenditure
- Buildings Awaiting Sale
- Denial of Access – 1-mile radius of Your Building
- Loss of Attraction – following Damage to property within a 1-mile radius- £250,000 in the aggregate
- Loss of Investment Income on Late Payment of Rent
- Failure of Public Supply – 3 month indemnity period
- Prevention of Access – £50,000 cover arising from Damage to property within a 1-mile radius
Features and Benefits (Section 3 – Property Owner’s Liability)
- £2,000,000 Indemnity Limit as standard
- Additional Persons Insured
- Compensation for Court Attendance – Director £500 per day, employee £250
- Cross Liabilities
- Data Protection – up to £1,000,000 in the aggregate
- Manslaughter and Corporate Manslaughter Defence Costs – £1,000,000 in the aggregate
- Indemnity to Principal
- Overseas Personal Liability
For further information on Limits and Exclusions please click here to download the policy documentation
Optional Extras
- Accidental Damage Cover
- Increased Loss of Rent Sum Insured
- Book Debts
- Shop front Glass Cover
- Landlords Contents
- 3 levels of cover on Unoccupied Property
- Increased Property Owners’ Liability to a £10,000,000 LOI (Upon Referral)
- Terrorism cover
- Legal Expenses
Insurer Rating
Insurer Panel
AM Best
S&P
Lloyds Market (All Syndicates)
including Carbon Syndicate 4747
A+
AA-