Everything you need to know about commercial premises insurance
Once a commercial lease or a precarious lease has been concluded, the protection of your commercial premises against all the associated risks becomes essential.
It would therefore be wise to learn about the operation of local commercial insurance through the guarantees it covers. This is exactly what we offer you in this article.
Business premises insurance: what does it cover?
The question of business premises insurance inevitably arises when you come into possession of business premises. After signing a lease, this is the biggest concern you will face.
Business premises insurance is essential business insurance. It can be linked to insurance for the occupant of the business premises, or to the owner who does not occupy it. In both cases, it covers claims suffered by the premises in question.
Insurance for the occupant of the commercial premises
The tenant is under an obligation to use it to protect the premises he occupies. Generally known as "multi-risk insurance", business premises insurance takes into account the coverage of many risks. Within these we can list the risks of fire, flood, vandalism etc ...
With business premises insurance your business premises are certainly protected, but that's not all. In fact, the material, equipment, goods and other furniture located there also enjoy this protection.
Here, the business premises insurance that the tenant uses to cover any damage takes the name of business premises insurance.
It would be impossible to find a complete list of injuries that can be covered by business premises insurance. Still, the protection will depend on the contract which is subject to variation. Very often, business premises insurance will provide coverage for natural disasters, floods and fires, as well as electrical damage and vandalism.
Also, a guarantee covering operating losses caused by a disaster is included in the insurance of the commercial premises.
The probable shutdown of an activity over several weeks when a disaster occurs causes financial losses. The business premises insurance may allow you to benefit from compensation on these.
Insurance for an owner not occupying the commercial premises
It is possible for an owner not to occupy his commercial premises himself. That is, he rented it out. However, this should not justify an exception to purchasing business premises insurance. Several possibilities may come into play in such a case.
Since the introduction of the Alur law in 2014, an owner not occupying the commercial premises is required to have liability insurance. This takes effect from the moment the accommodation is co-owned.
Civil liability covers damage (fall, collapse, etc.) that the premises could cause to neighbors or third parties.
In addition, the owner will also need to use non-occupant homeowner insurance. Still known by the acronym PNO, this insurance is essential if you want to manage premises well. The particularity of this business premises insurance is that it applies in the absence of a tenant or when the latter does not have insurance.
This type of business premises insurance is very often illustrated when the business premises are vacant or when an uninsured tenant operates it. It is also useful when the commercial premises are undergoing renovations.
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