Commercial property insurance is for landlords who rent out properties for commercial use such as shops, restaurants, or industrial units.
Protect your property with our commercial landlord insurance. Talk to one of our commercial property insurance specialists who can search the market to find you the best insurance.
We’ve been working with landlords since 1995, so we know it’s vital to find the right cover for your property. We provide high-quality cover and award-winning service at a great price – so you get the best deal around.
Insurance for differing commercial premises – shops, restaurants, factories, hotels etc.
Option to combine residential and commercial properties.
Specialist insurance advisers.
The Alan Boswell Group Difference
Because our commercial landlord insurance product is managed in-house, we provide a unique service, with pricing, underwriting and claims primarily managed by our own team. We also have alandlord advice hubthat is full of useful information to help landlords and property owners find the advice and products needed.
Our advice and service have been recognised by the industry and our customer feedback scores are proof of our consistently high standards.
We've dealt with Alan Boswell for over 10 years and have always been very impressed by their efficiency.
Mr & Mrs Hodges - Commercial landlord
What's included in Commercial Landlord Insurance policy?
Our commercial landlord insurance policies cover a range of risks, so you get complete peace of mind.
Property insurance A wide definition of buildings that can extend to include common areas, landscaping, solar panels, wind turbines, and domestic white goods. Numerous extensions included as standard and tailored to the property industries.
Business interruption Cover for loss of rent following property damage, as well as for the cost of alternative accommodation for residential units within your portfolio. There is a variety of extensions to supplement core covers.
Engineering damage This policy can provide cover to surrounding property if any machinery or plant causes damage. We can also offer specific policy enhancements, such as working or repair investigation costs, to ensure you're well insured.
Property owners' liability Protects your legal liabilities towards third parties e.g. slip, trip, or fall whilst on the property.
If you are a property owner and you have a change of tenant or processes undertaken within the property you will need to inform your insurance provider. Failure to do this could invalidate any claim.
It is important to make your insurance provider aware if there will be any periods of inoccupancy to ensure the property is covered correctly whilst unoccupied. Again, failure to inform your insurance provider could invalidate your insurance.
Our commercial landlord FAQs page aims to answer some of the common questions regarding commercial landlord insurance.
Get a quote
Speak to our team on
01603 216387
Make an enquiry
Business Insurance Enquiry
Other landlord insurance covers
We have specific insurance designed for landlords to cover the range of property you might have, which is why we can provide a range of additional covers:
Landlord Building Insurance
Landlord building insurance is a vital cover for your rental property we can search the market, compare quotes, and arrange your insurance so you get the best cover available.
Multi-Property landlord insurance for your residential and/or commercial property portfolio.
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Block of Flats Insurance
A comprehensiveflat insurance policy tailored to your requirements will give you peace of mind, talk to one of our specialists today or get a quote online
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Rent Guarantee Insurance
Provides insurance for non payment of rent in the event of a tenant defaulting as well as any landlord legal expenses cover of up to £100,000.
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Landlord Legal Expenses Insurance
Provides cover for your rental property, including repossession of the property and other legal disputes.
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Landlord Home Emergency Cover
Home emergency cover for your own or rental property in the event of a domestic emergency e.g. boiler breakdown, failure in utilities etc.
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Tenant Referencing for Landlords and Letting Agents
Referencing of tenant(s) employment history, tenant history, identity and credit history and affordability.
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Commercial Landlord Insurance FAQs
The property owner or landlord, is responsible for arranging building insurance on commercial property that is rented out.
Under the terms of most commercial lease agreements, the landlord will often pass on the cost of building insurance to the tenant.
Theft and theft by tenant is covered under commercial property policies. However, most policy wordings state that there must be evidence of entry by “forcible or violent means” in order for a claim to be valid.
When offering their quote, the underwriter will look at the local crime map to analyse the crime rate in the surrounding area of the property. Should this be in a high crime area, an insurer may look to increase their excess or restrict cover. However, the stance on this can vary from insurer to insurer therefore as a broker we are able to search our markets and find a quote with a high quality of cover for a competitive rate.
Fire is covered under all commercial property policies, including when the property is unoccupied.
The very basic cover offered by insurers, in particular when a property is vacant, is for fire, lightning, explosion, and aircraft. However, it is important to note that explosion from fire is typically excluded and this is restricted to explosion of gas boilers, or gas used for domestic purposes. Subterranean fire is also excluded.
As defined by AXA in their policy wording, flood is defined as “the escape of water from the normal confines of any natural or artificial watercourse, lake, reservoir, canal, drain, or dam. Inundation from the sea. Rain-induced runoff. Whether resulting from storm or not.”
When considering whether to offer flood cover an underwriter will look at a range of factors. These include; The Environment Agency’s Flood Map; how far away the property is from a river, sea, or lake and; the history of previous flooding in the surrounding area. With these three factors in mind, they will decide whether to offer standard terms, increase the excess, or exclude flood completely.
A commercial property policy will provide essential flood and storm cover for the structure and landlords contents looking only to exclude damage in respect of fences, gates, or moveable property in the open.
Water damage caused by a burst pipe, also known as ‘escape of water’, is a cover often found on a commercial property insurance policy. Despite a common misconception that the pipe itself is covered under the policy, this is not always the case; however, instead, the damage arising from this escape of water is covered by the insurance. For example, a pipe suddenly bursts in your property and damages the floor and several appliances. The pipe itself would be excluded, but the material damage to the structure and contents would be covered by your insurance policy.
However, many policies offer ‘trace and access’ cover as part of their policy. This means that should there be some evidence that there is a water leak occurring, you may have to call someone in to remove plasterwork or floorboards to identify where this is coming from. This can prove costly. Therefore this trace and access will cover the cost of locating the source of the leak, and any costs necessary in repairing and making good any damage caused in locating this. The main reason insurers offer this cover is to find the leak quickly, therefore avoiding further widespread damage and minimising claim costs both for yourself and them as a result.
Award-winning insurance
Speak to our team on
01603 216387
Make an enquiry
Business Insurance Enquiry
Scott O'Neill
Insurance Adviser
Telephone:
01603 649671
Email:
[emailprotected]
Paul Marshall
Account Executive
Paul started his insurance career with Smith & Pinching in 1984, rising to office manager within three years. In 1991, Paul then moved on to…
Telephone:
01603 218385
Email:
[emailprotected]
Natasha Powell
Account Executive
Natasha started in insurance 1998 as a ‘stand-in receptionist for a day’ and 18 years later she is still in the industry! Natasha worked in…
Telephone:
01603649686
Email:
[emailprotected]
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Commercial Landlord insurance cost
How much does Commercial landlord insurance cost?
If you are insuring a single building you could pay as little as £306 for a commercial landlord insurance policy. The exact cost will depend on several factors including the construction type, size of the property, and the business your tenant undertakes, but last year 10% of our customers paid £306 or less (Jan 22 – Dec 22).
The continued impact of catastrophic events is a major factor driving up costs, along with the increasing cost of capital, financial market volatility and inflation. This is an expense carriers need to pass along to customers.
On average, Florida landlord insurance costs around $2,400 per year, which is above the national average. Part of the reason for this is the higher-than-average median home value in Florida, which at over $407,000 sits in the top one-third of states.
State Farm. State Farm is the industry's biggest player, both in the US and overseas. The Bloomington, Illinois-based P&C insurance giant wrote almost $78 billion worth of premiums in the past year. The company offers a range of car, home, and small business policies.
Florida commercial property insurance costs will vary based on the type and extent of coverage you need. The size of your business and the value of your assets will also play a role in determining the cost. On average, business property insurance costs between $500 and $2,000 annually.
A DP-3 policy provides broad protection against most adverse events, such as hurricane-force winds, lightning, hail, fire, vandalism, theft, and more. Is loss of rental income covered in a DP-3 policy? Yes!
DP3 policies typically don't include personal property coverage for tenants. Tenants typically need renters insurance to protect their personal belongings and liability. HO3 policies are for owner-occupied homes and cover the house and its belongings, as well as provide liability protection.
The value of your property is a critical factor in shaping your insurance policy limits and pricing. High-value properties naturally command higher premiums because they represent higher risk and a more considerable potential loss for the insurance company if something goes wrong.
In 2024, we expect commercial property growth rates in the high single digits, and liability rate growth in the low single digits, on average. Commercial lines average rates increased by 8.1% year-on-year in 3Q23, slower than the 8.9% gain in 2Q23, according to the CIAB.
Commercial policies are designed to provide coverage for the increased risks that arise from a business' daily operations. This type of insurance is typically more expensive than personal auto because of the higher liability coverage it provides.
Commercial insurance rates continued to rise for all major lines except workers compensation last month, but the pace of increases eased for most coverages, according to a report Thursday from Ivans Insurance Services, a unit of Applied Systems Inc.
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