Buildings Insurance for Small Clothing Shop

[MissBling]

Hi

I am wanting to know what other small businesses do with regards to Building Insurance, eg. cover for vandalised shop windows/breakins etc roughly how much do you pay annually and does the landlord have to arrange this being the property owner.

My previous landlord arranged the buildings insurance and i paid him annually for this, the shops were owned by an investment company i was in the shop 8 years and never actually met the landlord direct. I have now moved to a smaller shop in a village setting, the landlord is a local gentleman who has the flat above and i rent the retail space on the ground floor.

This landlord previously when issues have occurred with windows etc had carried out all the boarding up and repairs himself and split the costs 50/50 with tenant. He is now wanting no responsibility as he is now older and wants the tenant to be responsible for any damage to windows etc. so I was wondering if I am able to take out Building Insurance to cover this aspect should this happen i can then claim on the insurance for the repairs.

Do you think it is fair the tenant pays for this?

Thank you in advance

 

[fisicx]

What’s you are liable for is detailed in the lease. Your solicitor would have advised what insurances you need.

@Frank the Insurance guy will be able to provide more detail.

 

[Frank the Insurance guy]

Hi @MissBling ,

It is common for retail tenants to be legally liable in the lease for shopfronts, glass etc. Most Shop Insurance policies provide automatic cover for shopfront/glass, or they can be extended to include this - talk your your shop insurer to make sure you have this cover.

The property owner will continue to arrange full buildings insurance, which will cover the structure of the buildings etc - they will usually pass on the cost to the retail tenant.