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08/03/2010
Insurance 'still essential for vacant commercial properties' |
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Investors building up a business or currently in the process of seeking tenants for their commercial property have been warned that they must have a valid insurance policy in place in the meantime.
Flint Insurance said it has found that many offices and other commercial properties have not yet been insured by their owners, which could lead to financial loss if they are damaged or leave the landlord liable should an accident occur on the premises.
The company warned that this is still the case even if the injured party is trespassing.
It recommended that those setting up a business or looking for tenants should organise insurance as soon as possible in order to avoid breaking the law.
This comes after Aviva gave out similar advice last month, pointing out that three million vacant properties are damaged each year by vandals.
Recent research from CB Richard Ellis showed that capital values for commercial property increased by 0.9 per cent in January 2010.
Written by Anna Norton
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