Property All Risk

While industrial and commercial property insurance is often thought of as one of the simpler, more “bread and butter” insurance products, it’s worth noting that things can be more complex than they seem. 

The worst situation you want to discover complexity is during a catastrophic event. Using an experienced broker can get you to a tailored policy wording that’ll help you rest easy.   

By investing a little time upfront, to truly understand your business Howden can get you quality cover to protect you when you need it most. 

What does industrial property insurance cover? 

The policy covers loss or damage to assets like buildings, stocks, furniture and contents. It’s important to keep an accurate value of buildings, stocks, machines and other contents, to save further complications in the event of a claim.

The two types of industrial property policy are:

• Fire and allied perils
• Property all risk

As the name sounds, “All Risk” offers much broader cover, allowing bespoke policy wordings that can cover a range of risks, including fire, lightning, natural calamities, import damage, Aircraft damage, bursting of pipes etc.

Other areas robust commercial property insurance should cover:

• Loss of profits
• Floods
• Loss of rent
• Malicious damage
• Accidental damage
• Legal fees
• Consulting fees e.g. architects or surveyors

These covers are indeed bread and butter and nearly all of the insurance marketplace offers such policies. 

All covers are worded differently, with contrasting approaches to:  

• Limits & sub-limits 
• Deductibles 
• Flood coverage
• Business interruption at third-party locations 
• Valuations 
• Concurrency (how will property claim be processed if more than one policy applies)

Being able to confidently navigate the market, with consistently up-to-date product knowhow, means that we can find quality cover at a very competitive price. 

Our definition of quality cover?  Competitive prices, no nasty surprises.