In short

Property insurance covers physical loss or damage to buildings, plant, machinery and stock from insured perils such as fire, explosion, storm, flood and impact. Adding business interruption cover pays the profit you lose and the fixed costs you still owe while the premises are out of action.

Overview

Most property claims are underinsured, and the reason is almost always the same: the sum insured was set on book value rather than what rebuilding and replacing would actually cost today. When that happens, the insurer applies average and you carry part of every loss yourself.

We work through the asset schedule with you - buildings, plant, machinery, stock and fixtures - and set the sums insured on the right basis. Then we add business interruption, sized on your gross profit and a realistic rebuilding period.

What is covered, and what is not

Typically covered

Fire, lightning and explosion
Storm, cyclone, flood and inundation
Riot, strike and malicious damage
Impact damage and subsidence, subject to the wording
Burglary and theft, where added
Stock, machinery, fixtures and fittings
Business interruption: gross profit and standing charges
Debris removal and professional fees for reinstatement

Typically excluded

Wear, tear and gradual deterioration
Faulty workmanship or defective design
Consequential loss, unless business interruption is bought
Loss of market or loss of goodwill
Damage from a peril not named in the policy
Money, deeds and documents, unless specifically added

Cover and exclusions vary by insurer and by the wording issued for your risk. We confirm the exact terms on the quotation before you buy.

Who needs this cover

Anyone who owns or occupies commercial premises: factories, warehouses, godowns, offices, showrooms and retail units. Lenders and landlords almost always require it, and the lease will usually name who insures what.

Why buy this through Trust Cover

Insurer-neutral advice

Quotations from several insurers, compared on wording and claims record, not premium alone.

Exclusions explained first

You see what is not covered before you buy, in plain language.

Claims handled by us

We prepare the file, submit it and chase settlement on your behalf.

How a claim works

Make the site safe and tell us and the insurer immediately.
Report to the police or fire service where relevant - the report is a claim document.
Photograph everything before clearing, and do not dispose of damaged stock until the surveyor has seen it.
The insurer appoints a surveyor; we brief them and attend the inspection.
We assemble the loss statement and pursue the settlement.

Documents you will need

Asset schedule with reinstatement values
Stock values, usually the highest expected during the year
Last audited accounts for business interruption sizing
Building construction details and occupancy
Fire protection measures on site

Working with us

We are insurer-neutral. For every enquiry we approach multiple insurers, compare the wordings as well as the premiums, and tell you where they differ on the points that decide a claim.

After the policy is issued we stay involved: endorsements, mid-term changes, renewal reminders that start ninety days before expiry, and claims that we prepare, submit and follow to settlement.