Your Industrial Building is a major investment and protecting it should be your priority. Commercial Property insurance is designed to protect industrial buildings, such as factories, warehouses and large industrial sheds. It will cover the buildings, landlords fixtures and fittings, contents if any, and rental income of the property owner from a range of potential risks.
Industrial Warehouse and Factory insurance covers property and equipment from the risk of disasters. It includes building, landlords fixtures and fittings coverage, loss of rents, machinery breakdown, and your public liability as a landlord.
The industial property insurance cover will pay for repairing the landlords building and contents after an insured event, such as fire or storm damage.
That is why as a property owner, it is essential to understand your risks and have the right insurance in place to protect yourself. Even if your property is part of a strata complex, you should still insure your own contents and equipment, as the strata insurance will only cover the common areas and the building itself.
James owns commercial properties, and mentions to his broker that he’s just bought a new tenanted industrial unit — but “not to worry it’s covered by the body corporate insurance.”
His broker insists that he should take out at least some cover for fittings, loss of rent and public liability. James accepts.
Shortly after, he’s served with a notice for injury to one of his tenant’s customers who slipped on a spill in the common area.
The injured customer sued, serving on James, his tenant and the body corporate alleging they were all responsible for the injury.
James’ insurer indemnifies him and settles on the claim with the other 2 insurers, each paying out $30,000 to the claimant. By having this policy, James avoided paying out his own legal costs to defend himself, and his only expense was a $500 excess.
Consolidated Insurance Brokers can help by placing you with the best policy for your needs. We’ll find you the most competitive rate possible, and offer advice to ensure your insurance protects what matters.
With access to a range of reputable insurers, and policies not available to the public, we can offer you a range of competitive commercial property insurance quotes. We’ll help you compare the price with the coverage offered for each, so you can make the best decision for your needs.
Industrial Buildings have many variables, such as zoning and tenants’ industries, so it’s key to have an experienced adviser. Get the right building insurance coverage with nine building insurance quotes to choose through Consolidated Insurance Brokers.
Our experienced brokers can quickly scan the commercial insurance market for your factory or warehouse and ensure you have the best policy available to protect your specific assets and belongings.
Call us now and speak to one of our friendly and professional insurance brokers. We will provide you with no-obligation commercial building insurance quotes and advise you on what offer suits the best for your business.
There are many benefits of using a broker over buying directly from the insurer. Insurance brokers: