You only have to walk through your local high street to see the impact the recession had on the occupancy rate of commercial properties. Whilst the commercial property market has seen some growth, there are still many buildings that remain unoccupied. For a landlord owning an empty commercial property there are going to be increased costs involved. Apart from the lack of rental income, landlords are likely to face increased maintenance and security costs and, potentially, difficulties when trying to arrange insurance. Some insurers are reluctant to provide cover for vacant properties and, where they do, premiums can often be significantly higher in comparison to a premises that is occupied.
Managing your building effectively will not only help protect your asset, it will also demonstrate to potential insurance companies that you are serious about reducing the risk.
Alan Boswell Group have put together the following tips for managing your unoccupied commercial property which should assist you in obtaining a wider choice of quality insurance covers and competitive premiums:
Alan Boswell Group understand commercial property owners business’ and the associated issues you face. As such, we have developed an insurance product aimed at well-managed vacant property. If you require further information or would like to obtain an insurance quote then we have an experienced team on hand to answer your queries.