Commercial buildings insurance

If you own the building which your business operates from or within, you should consider commercial buildings insurance. This cover offers protection against damage that may occur to the actual property, such as flood or fire damage. Shops, offices, showrooms and other brick-and-mortar businesses stand to benefit most from this commercial cover.

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What is commercial building insurance?

If you own the building your office is located in, you should consider office buildings insurance. This offers protection against damage that may occur to the actual property, such as flood or fire damage, but not the actual contents of the office or your work equipment. For this, you’ll need to ensure you’ve taken out office contents cover.

With Hiscox, your place of work will be protected from a range of risks, covering accidental damage and the results of criminal damage.

Commercial property insurance is designed to cover the costs which your business could face in the result of:

  • Accidental damage -  Hiscox provide this cover as standard, as well as cover for risks such as storms, floods and fire.
  • Rebuilding costs - which includes all professional fees and costs associated with rebuilding your office or work space.
  • Trace and access – cover for the cost of locating damage to cables, underground pipes and drains or the source of a gas or water leak.
  • Emergency services - including fire extinguishing expenses.
  • Loss prevention costs – we will pay the reasonable and necessary cost of protecting your building from imminent damage.

Do I need commercial building insurance?

Insurance for a commercial property isn’t a legal requirement for business owners in the UK. However, purchasing a business building policy should still be a high priority for any business operating from a property they own outright. It protects against unexpected damage and disruption to business if something were to happen to the premises. For example, if a fire in the kitchen of a restaurant means they can’t open, or a flash flood caused by bad weather results in a music venue having to cancel shows.

If your business is renting a space for day-to-day operations, the responsibility of insuring the property does not rest with you; the landlord should source cover. You may, however, want to consider office contents insurance, as this will cover the cost of replacing your computers, furnishings, fixtures, stock, etc. if they get damaged or stolen. For example, flooding causing damage to the carpet, the communal fridge breaking down or laptops being stolen in a break in.

In some cases, if you have taken out a mortgage on the property, your lender may require you to take out commercial property insurance as part of the agreement.

If you run your business from home, your home insurance policy should cover the building, though specialist home office insurance can cover any rooms that are used for work purposes.


Build a policy that is specific to your needs

Choose from the full range of Hiscox policies to create one comprehensive insurance package for your place of work. When you buy an insurance for your commercial building, whether to protect the exterior, it's contents, or both, there are a number of additional covers to consider.

You can also add the following covers to your Hiscox policy:

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How much does commercial buildings insurance cost?

The cost of commercial property insurance in the UK will depend on a few factors. These include the nature of your business and its size – a larger company will generally have more to cover and therefore cost more to insure. The location and nature of the building will also be factored into the cost, with premiums likely to be higher if the building has a high rebuild cost or is in a high flood or crime zone.


Understanding your business insurance requirements

If you’re a business owner, you’ll understand that some risks are often simply unavoidable. However, with the right insurance protection in place, some risks can be managed. Based on your business’ unique needs, you can choose from Hiscox’s range of policies to create one comprehensive insurance package. This could include public liability insuranceemployers' liability insuranceprofessional indemnity insurance and extras such as cyber and data risks cover and personal accident.

Get a quote

  • Award-winning claims service
  • Immediate coverage and documentation
  • No admin fees if you amend your policy

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Need more details?

Download a summary of what our office buildings insurance covers and the policy wording here:

Hiscox do not offer any of our commercial property insurances online. Please call and speak to one of our business insurance experts to get a buildings insurance quote now.