Business Insurance – Property Insurance – Buildings Insurance
All about the Buildings
Under a Business Insurance policy, you may need to consider insuring the building(s). We are more than happy to discuss your individual property insurance needs, but to get you started, we have highlighted topical areas which might help you understand what insurers require when assessing your submission.
What do we mean by Buildings?
- Main Structure(s)
Insurers are interested in some of the details of your property and may seek information such as:
- CONSTRUCTION Is it built of brick, stone or concrete and roofed with slates, tiles, concrete, metal or asbestos? This would be a typical question and insurers are seeking to establish whether your Property has any unusual features.
- STATE OF REPAIR In a good state of repair and will be so maintained. This rather speaks for itself.
- ROOF Insurers are concerned about the weather so will often want to know about the type of roofing. Constructed with a flat roof and covered with felt.
- SECURITY Be aware that some insurers require certain level of fire and theft protection to be in place e.g. extinguishers, types of locks on doors and windows etc.
- Who is responsible for insuring the buildings?
You are if you are the owner, or you if you are legally responsible for them.
How are they shown in a Policy?
The Buildings are noted in the policy Schedule at the given address of the premises you want to insure.
What is a Policy Description of Buildings?
While it varies from Policy to Policy, generally it would include the building itself and some of the following:
- car parks
- gates fences
- fixed signs
- swimming pools and tennis courts
- boilers and central heating plant
- decorations and fitted carpets in the common parts
- solar heating panels
- Landlord’s Fixtures and Fittings which form a permanent part of the structure for instance annexes, gangways, outbuildings and extensions walls, gates and fences yards, car parks, roads and pavements But also additional structural fixtures and fittings which were not part of the original structure central heating systems sanitary fittings They can be inside or outside the building as long as they are a permanent part of the building
… and extras
As well as all these parts of the building it is worth noting that many Policies also give cover where you have responsibility for features which form part of the buildings. Some examples of this would be:
- roads pavements, service areas, pedestrian ways, street furniture, lamp posts
- telephone, gas, water and electrical installations, piping, ducting, cables, wires and associated equipment on the premises, and extending to the public mains
Under Some Policies, the building section will extend to give cover for:
Damage to Landscaped Gardens
If a garden is damaged by a cause insured under the Policy, then Insurers will pay for that Damage. Usually this will be limited to a certain sum.
The above information is general to Buildings Insurance. If you have any other queries, or questions you would like to ask about insuring a building, whether its a new or existing policy or an upcoming renewal, we would be delighted to speak with you!
Call us on 041 685 8400 or submit your query here.