Building Insurance policyholders tend to fall into two groups. There are owner occupiers, who have bought a building for their own business, and landlords who let their property to commercial and residential tenants.
Buildings Insurance is an all-risks type of cover to protect the business premises against damage or destruction caused by fire, lightning, storm, accidental damage and flood, impact from aircraft or vehicles and escape of water from tanks or pipes.
As with all Property Owners Insurance, the buildings should be insured to cover the full rebuild cost, rather than the market value of the property. There are a number of optional extras available with a Commercial Buildings Insurance policy and these are usually standard on a property owners’ policy, the most notable of which is Property Owners’ Liability Insurance.
Liability Insurance cover is restricted to the buildings only and surrounding land including car parks, so additional cover needs to be arranged to cover liability around contents.
To get a quote for one of the Building Insurance policies MCM Insurance Services provides, simply email us here or call us on 0161 786 3150.