Kerry London News

Commercial Property Owners: Reducing the risk of weather damage

Tuesday 26th September
Commercial Property Owners: Reducing the risk of weather damage

As the weather changes, storms and increased rainfall can increase the risk of weather damage to commercial properties. After fire claims, escape of water is one of the most common types of claim, with insurers paying out £1.8 million every day. Regular property maintenance can minimise costly claims and incidents in commercial properties.

Preparing for bad weather

Cold-weather problems are inconvenient and can often lead to costly repairs and, in some cases, lost revenue for property owners. Organising a quick health check of the building before the weather changes can help reduce the risk of property damage.   

  1. Scheduled maintenance will rectify any problems quickly and reduce the risk of damage. Preventative repairs before potentially bad weather can save money in the long term. Missing roof tiles and checking for leaks inside the roof cavity while it is raining – can minimise the risk of water damage spreading to other areas.
  2. As the cost of energy rises, replacing old windows with double or triple-glazed windows could save on the cost of energy.
  3. Continuity planning will help when unexpected bad weather impacts your property. If the power and communication to premises and businesses go down, a plan can help manage the problem.
  4. Stocking up on supplies of grit salt for any hazardous paths that may make you liable for slips and trips is essential. According to the Health and Safety Executive, slips and trips account for 40 per cent of all reported major injuries. Having a supply of sandbags will also help minimise damage to your property if they flood.
  5. External security lighting will serve as a deterrent and keep the property safer, especially in the darker months or if it’s unoccupied.
  6. Water leaks are a huge cost for property owners and one of the most frequent insurance claims. Ensure commercial and residential tenants know where the water and gas stop cocks are located and the electrical system isolation switches are.
  7. Arrange comprehensive insurance that covers a claim should unexpected damage happen.   

Commercial Property Insurance or Mixed-use property insurance?

Commercial Property insurance protects premises such as warehouses, shops and residential premises. It also covers rented commercial properties for the bricks and mortar of your building against incidents such as fire, flood or storms. Extend cover to include all risks, fixtures, fittings and all other contents or stock.

Mixed-use property insurance protects buildings used for both commercial and residential purposes, such as shops with residential flats above them. This policy typically covers loss of income, business interruption, theft, property damage, and liability. Mixed-use property insurance is typically more complex than landlord insurance for a residential rental property because these properties are often larger and more complex.

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Kerry London is authorised and regulated by the Financial Conduct Authority. The company is a leading UK independent and Lloyd’s accredited broker, which means that we work with a wide range of niche and major insurers.

This note is not intended to give legal or financial advice, and, accordingly, it should not be relied upon for such or regarded as a comprehensive statement of the law and/or market practice in this area. In preparing this note, we have relied on information sourced from third parties, and we make no claims as to the completeness or accuracy of the information contained herein. You should not act upon information in this bulletin nor determine not to act without first seeking specific legal and/or specialist advice. We and our officers, employees or agents shall not be responsible for any loss whatsoever arising from the recipient’s reliance upon any information we provide herein and exclude liability for the content to the fullest extent permitted by law.

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