Property Owners are responsible for ensuring that their premise does not endanger their tenants or members of the public. Setting the limit of indemnity for this section is very important as you will become personally liable for any claim in excess of your chosen limit.
This liability insurance will be included within a broader insurance solution for your business, providing complete protection for your buildings, contents and loss of rent.
Your insurance cost will be proportionate to – property age, type, occupancy, business activities of tenants or age and risk profile of the group occupying it. Alleviating measures such as CCTV installations and maintenance contracts can have a positive impact on your premium.
Any tenant with commercial operations at the insured address will be required to hold their own separate insurance. Similarly, if you have contracted people to maintain your property, such as a cleaners or gardeners, you should ensure that they have their own liability cover in place.