Commercial property insurance


Commercial property (buildings) insurance can protect companies that work from a building they own. For example, if flooding causes damage.

Own the office, shop, showroom or warehouse your business operates from? Commercial building insurance could help protect bricks and mortar – and your finances. It steps in if there’s fire, flood or storm damage to the building.

 

Get a quote for buildings insurance. Contact us on:

0808 2736 570

Mon-Fri, 9am-5pm.

 

Why choose Hiscox for your commercial property insurance?


1

A thorough approachYou’re covered for a range of risks. This can include accidental damage and subsidence.
 

2

Make unlimited changes

Make unlimited insurance changes, without admin fees.

3

Trusted by over 400,000 businesses*We're award-winning insurance experts. Join thousands who trust Hiscox.

*based on the number of policies sold in 2023.

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What is commercial property insurance?


Commercial property insurance protects business buildings you own against fire, flood or storm damage.

This product can insure commercial buildings such as offices, warehouses or shops.

It covers businesses for:

  • Accidental damage. Hiscox provides this cover as standard. Including damage from storms, floods and fires
  • Rebuilding costs. This includes professional fees and costs associated with rebuilding your workspace
  • Trace and access. The cost of locating damage to cables, pipes and drains. Or the source of a gas or water leak.

Your commercial buildings insurance quote does not cover the contents of your office or work equipment. For this, take out business contents insurance.

Do I need commercial property insurance?


Commercial property insurance is for those who own the building they work from. This could be a:

You might need commercial property insurance if you use your premises for appointments. You could run an:

Organisations that often hold in-person meetings may also benefit. For example, charity centres and consultancy offices.

A self-employed accountant with a city centre office may face costs if fire damages the foundations. Or an IT business could face disruption and damage if flooding isn’t fixed fast.

Many firms also tailor their Hiscox property insurance.

Commercial property insurance is for those who own the buildings they work from. You can also add extra covers, such as:

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What does commercial property insurance cover?


With Hiscox, commercial property (buildings) insurance includes cover for*:

  • Rebuilding and repair costs. This includes professional fees and costs associated with rebuilding your office or commercial building
  • Trace and access. Assistance with the cost of locating damage to cables, underground pipes and drains. Or the source of a gas, oil or water leak
  • Emergency services. This includes fire extinguishing expenses
  • Loss prevention costs. We will help to pay the reasonable and necessary cost of protecting your building from imminent damage such as installing flood prevention barriers or emergency boarding to doors and windows
  • Land decontamination. Support with the cost of decontaminating land on your commercial property after an accidental oil spillage
  • Damage to trees and plants. If a fire or explosion at your business’ building causes damage to trees and plants on your land, we’ll help
  • Damage to solar panels. Including costs due to lost tariff revenue and higher electricity bills.

*Please refer to the policy documents for the full details of inclusions and exclusions of this cover. Policy documents are available when purchasing online. You can also contact our customer services team for more information.

Get your commercial property insurance quote in minutes


We cover a wide range of business types and sizes. We’ll tailor your commercial property insurance to meet your needs.

You can contact us on: 

0808 2736 570

Mon-Fri, 9am-5pm.

What does commercial property insurance not cover?


  • Damage caused by wear and tear
  • Damage caused by an inherent defect
  • Damage caused by rot, fungus, mould, vermin or infestation, or any gradually operating cause
  • Settlement of new structures, or movement of made-up ground
  • Demolition, building work or groundwork
  • Coastal or river erosion
  • Subsidence to walls, gates, fences, car parks, private roads, pavements and paths. Unless the main building is damaged at the same time and by the same cause
  • Damage to floors caused by subsidence. Unless the walls are physically damaged at the same time and by the same cause
  • A rise in the water table
  • Pressure waves caused by aircraft travelling at supersonic speeds
  • Storm or flood to gates or fences
  • Damage to computers and equipment
  • Damage to property resulting from its own breakdown
  • Damage to property whilst being cleaned, serviced, maintained or repaired
  • The cost of maintenance or routine redecoration
  • Indirect losses
  • Damage caused solely by pollution or contamination
  • Costs relating to the decontamination of land, unless caused by an insured oil spill event
  • Damage caused by war, terrorism, civil commotion in Northern Ireland, confiscation, nuclear risk or infectious disease
  • The excess.

Please refer to the policy documents for the full details of inclusions and exclusions of this cover. Policy documents are available when purchasing online. You can also contact our customer services team for more information.

How much commercial property insurance will I need?


How much commercial property insurance you need will depend on various factors. For example, the nature of your business and buildings.

When you create a commercial building insurance quote, we’ll ask you to set a policy limit. This should be equal to the total cost of responding to a worst-case scenario event.

It should include demolishing and rebuilding all insured buildings. Plus, the cost of services such as surveying. This figure might be higher for a listed building, for instance.

A larger company will generally have more to cover, so it’s good to avoid underinsurance.

Need to change your policy? With Hiscox, you can make unlimited changes with no admin fees. Premiums may go up or down.

Commercial property insurance: FAQs


Is commercial property insurance a legal requirement?

No, commercial property (buildings) insurance is not a legal requirement. Still, it can help your business if something unexpected happens. For example, damage from a flash flood.

With a commercial mortgage, your lender may ask for insurance as a loan condition. So, you may find this cover is needed.

Is commercial building insurance tax deductible?

Yes, commercial building insurance is tax deductible in the UK. It counts as an allowable expense, and is a named cost you can deduct from your taxable profit. Before calculating your corporation tax bill, remove your annual business building insurance costs.

Do I need buildings insurance if I run my business from home?

You may need additional insurance if you run a business from home. Most home insurance policies don’t cover business risks. For instance, performing professional services at your home address could increase the risk of accidental damage to your property or injury to visitors to the building.

So, you may need separate contents or public liability insurance for business use, depending on what your home insurance documents say.

How much does business buildings insurance cost?

Commercial building insurance quote costs can vary. It often depends on factors such as the size of your business and the type of properties you want to insure. The total potential rebuild cost will be factored into monthly insurance premiums. Circumstantial factors will also be considered. These include the area the property is in, the size of local crime rates and flood risk.

General Hiscox business insurance starts from £8.40*.

The price for property insurance may differ. Create an insurance quote to find the accurate cost for your buildings.

*Figures based on an average of all business insurance policies sold to at least 10% of our customer base between January 2023 and January 2024

How can I pay for commercial property insurance?

You can pay for your commercial property insurance in several ways. These include:

  • Debit card
  • Monthly direct debit
  • Annual direct debit.

We try to make payments as flexible as possible. Speak to us today to explore your options.

What other business property insurance can I add to my policy?

Commercial property insurance is just one type of business insurance we offer. It insures business-owned buildings. You can protect what you own in other ways too. For example:

When should I get commercial property insurance?

You may need insurance once you exchange contracts for a commercial building. Even if that date arrives before you start trading from the address. If your building is unoccupied for 30 days or more, it’s important to let us know.

Meet our experts


Simon Ratcliff

“Whether providing office insurance to corporate businesses or tailored solutions for niche trades and professions, I use my 25 years’ industry experience to enhance our property and liability products and do the right thing for our customers.” 

- Simon Ratcliff, Commercial Property and Liability Underwriting Manager


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