Buying insurance is not an easy task. Over complicated policy documents, unnecessary industry
jargon and hidden exclusions all come together to make it a complicated and time consuming
experience.For commercial property owners, buying property insurance can often be one of the
most important purchasing decisions you make, with the right policy protecting your hard-earned
assets if you need to make a claim, while an inadequate policy will leave you out of pocket should
the worst happen.There are a few must-have features to look out for, however, that can help ensure
you get the right cover that will be there to support you in your time of need.
Sum Insured If your property is ever totally destroyed, whether that be fire, flood or some other
catastrophe, the sum insured must be high enough to cover the cost of clearing the site and
rebuilding the property. This policy feature can be linked to the cost of inflation, known as an index-
linked sum insured, to help protect against future increases in property costs.Many property-owners
often fail to adequately estimate this cost, but speaking to an insurance broker or other industry
professional can help in providing reassurance that the right level of cover has been taken out.Leaks
and Underground Services A good commercial property insurance policy will provide cover for
damage to any underground pipes and cables supplying utilities such as electricity, gas and water to
the property, as well as covering the cost of clearing any blockages to sewage pipes servicing the
property.
Good policies will also cover the cost for tracing, accessing and repairing a leak, which is vital cover
given the extensive damage that can be caused by a water leak hidden within your property or
underground.Public Liability If someone is injured or killed while on your property, or their own
property is damaged while on-site, then you may be liable for damages. Public liability insurance
protects you against the legal costs should you be taken to court following an accident, and cover
levels of £5m plus are commonplace in many policies.

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