Insurance for Buildings
Whatever your business you may decide to purchase the building that you work from, whether that is your shop, your office, pub or industrial premises from where you manufacture.
Insurance for your building is very easy to insure, all we need to know is the amount in which you need to insure for. This is called the reinstatement value or sum insured and it covers your financial interest in those premises, we have explained this a little further below.
Your business insurance
Covered by experience, not by a call centre!
Getting your buildings sum insured is very important, we recommend you use the services of a surveyor, speak to us about how you can obtain your sum insured, once we know this we can provide competitive quotes from our wide panel of quality insurance partners.
Buildings Insurance, getting it right is essential.
How to get your sums insured.
The amount you insure your buildings for is critical to how your claim is paid should you have one. Its very easy to get it wrong, however getting it right is also actually quite simple.
To avoid under insurance you must ensure that the “sum insured” reflects the true rebuild cost of the building.
Obtaining the correct sum insured
As with anything taking a guess, is probably not going to be the best way, neither is a figure from your mate the builder on mates rates, and one of the biggest mistakes when insuring your buildings is to insurer for the purchase price.
By far the correct way to obtain the correct vale is to employ the services of a suitably qualified surveyor who will provide an accurate rebuild cost for you. You can find a surveyor at www.rics.org
If you are just in the process of purchasing the building or its a recent purchase then you may unknowingly already have a rebuild cost available. If you have borrowed funds to purchase it you could find that a survey has already been done, its just a matter of asking the people involved. You might be charged for the additional work though