Since March many business premises have been empty due to lockdown
During this time most insurers have been supporting their commercial clients by providing full cover without restriction.
Following the Government announcement this week, Tuesday 23 June, more and more businesses will be able to return to work. As such most insurers are now reverting to their standard policy terms and from 4 July empty premises will automatically be subject to the usual unoccupied restrictions in cover. Why is this? Because vacant business premises tend to suffer from more claims for vandalism, arson and water damage issues.
But there will be some business which will not be re-opening such as:
- Businesses still under Government lockdown
- Businesses where the owner is officially shielding
- Businesses which have ceased to trade but still have premises with contents
- Businesses where the owner has decided not to reopen the premises but carry on working from home
So what should you, as a business owner, do?
If you are already open or are re-opening your premises from 4 July make sure you have carried out a COVID19 risk assessment and have correct social distancing arrangements in place. Your current policy will protect you.
If your business is still officially locked down or you are shielding let your insurer know. Most insurers will be supportive.
However if your business has closed or you have decided not to re-occupy your business premises your cover will be restricted. You should still call your insurer to understand exactly what terms will apply to you and how the restrictions affect you. As a broker, we have specialist policies available for empty or unoccupied premises so call us on 01424 718790 and we'll be able to discuss your needs.