Commercial property insurance

Commercial property insurance can protect companies that work from a building they own, providing business-critical support in the event of damage.

If you own the office, shop, showroom or warehouse your business operates within, then commercial building insurance could help protect the bricks and mortar – and your finances. This cover steps in if there’s fire, flood or storm damage to the property itself.


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Why choose Hiscox for commercial property insurance?


A thorough approachOur thorough approach to property insurance ensures you're covered for a range of risks – including accidental damage and subsidence


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We allow unlimited insurance changes – if a new commercial building joins your portfolio, just let us know 


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*based on the number of policies sold in 2022.

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What is commercial property 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 business 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 property insurance?

Commercial property insurance is designed for those who own the building they work from. This might include a retail business that owns, rather than rents, a chain of stores, or a small design and construction business in possession of a workshop, for example.

You might have a particular need for commercial property insurance if you depend on your owned premises for appointments. For instance, if you run an acupuncture clinic, beauty salon, estate agency or dance school studio.

Organisations that rely heavily on bricks-and-mortar locations for meetings, such as certain charity centres and consultancy offices, may also benefit.

Many digital businesses also choose commercial building insurance. A self-employed accountant who owns a small city centre office may face significant costs if an event such as fire damaged the foundations, for example. An IT business might also face increased disruption if flooding isn’t fixed in a timely manner.

Many firms in these sectors opt to tailor their Hiscox property insurance to include additional covers. Business contents insurance helps to safeguard what’s inside your office, shop, salon or centre, while portable equipment insurance can protect electronic items while you’re out and about.

Adding equipment breakdown insurance may offer reassurance that your servers, machinery and tools are covered too.

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What’s included in your commercial property cover?

With Hiscox, commercial property insurance includes cover for*:

  • Rebuilding and repair costs – including 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 or water leak.
  • Emergency services – including fire extinguishing expenses.
  • Loss prevention costs – we will help to pay the reasonable and necessary cost of protecting your building from imminent damage.
  • Land decontamination – support with the cost of decontaminating land on your commercial property after an accidental oil or water spillage.
  • Damage to trees and plants – if a fire or explosion at your business building causes damage to trees on your land, we’ll help.
  • Damage to solar panels – including costs due to lost tariff revenue and higher electricity bills.
  • Debris clearance costs – if an insured event creates debris at your property, we’ll help to clear it.

*Please refer to the policy wording for the full details of inclusions and exclusions of this cover

Get your commercial property cover quote in minutes

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

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How much commercial property insurance will I need?

How much commercial property insurance cover you need will depend on factors including the nature of your business and buildings – a larger company will generally have more to cover and it’s wise to avoid underinsurance.

When you generate 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, including demolishing and rebuilding all insured buildings, plus the cost of services such as surveying. This figure might be higher if the property is listed, for instance.

When you get a quote for commercial property insurance with Hiscox, it’s possible to tailor your policy with a range of other covers. A policy might include public liability insuranceemployers' liabilityprofessional indemnity and extras such as cyber and data and personal accident cover.

When should I get commercial property insurance?

Taking out insurance becomes relevant as soon as you exchange contracts for the purchase of a commercial building, even if that date arrives before you start trading from the address. This is because properties can be subject to damage from events outside your control, such as storms. If your building is due to be unoccupied for 30 days or more, it’s important to let us know.

Once you do move in, you may wish to add office insurance to insure contents such as computers and stock. Your insurance needs while working from home might also differ.

Planning to sell up? This Hiscox policy also covers you and the buyer in the time between contract exchange and completion.

From quote through to receiving your documents, the process of getting commercial property insurance can take minutes with Hiscox.

Commercial property insurance: FAQs

Is commercial property insurance a legal requirement?

No, unlike some other types of business insurance, commercial property cover is not a legal requirement. Still, the cover it provides can save your business from the impact of costly repair bills if something unexpected happens, such as damage from a flash flood or a weekend break-in.

If you have taken out a commercial mortgage for your property, it’s likely that your lender will ask you to have commercial property insurance as a loan condition. Therefore, you may find this cover is needed in practice.

Is commercial building insurance tax deductible?

Yes, commercial building insurance is tax deductible in the UK, since it counts as an allowable expense. This means it’s one of the named costs you can deduct from your taxable profit – so your corporation tax bill will be calculated after your annual business building insurance costs are removed.

It may be a good idea to talk to your accountant about business tax decisions. Don’t have one? Our Business Support Hub gives Hiscox customers access to discounted financial services operated by trusted partners.

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

You may need additional insurance if you run a business from home, since some home insurance policies don’t account for business risks. For instance, storing stock at your home address could increase the risk of fire or break-ins, so you may need separate contents insurance. Checking your home insurance documents can be a good place to start.

You won’t usually need commercial property insurance if you work from a residential address. However, if you live in a flat above your commercial address, then you could need separate insurance for these spaces.

How much does business buildings insurance cost?

Commercial buildings insurance costs can vary depending on factors such as the size of your business and the type of properties you seek to insure. The total potential rebuild cost will be factored into monthly insurance premiums as well as circumstantial factors. These include  the area the property is in and the size of local crime rates and flood risk.

Generate a commercial property insurance quote to find out more accurately what the cost will be for your buildings.

Commercial property insurance articles and guides

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How insurance might benefit a small business

Samantha Newman outlines the benefits of purchasing business insurance that goes beyond the bare minimum – including support if there’s an office fire.

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Choosing the right office for your small business

Selecting your workplace is a key step – perhaps more so if you plan to buy a commercial property. From light to location, read some of the things to look for in an office.

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What types of business insurance are there?

Many businesses will need more than commercial property insurance. Learn the key types of business insurance, from directors’ insurance to public liability.