Commercial Property Owners Urged to Check Insurance
Posted on 14th July 2016
Robert Pinkus Property Management is urging commerical property owners to look closely at their insurance cover on any empty properties.
Many property owners are unaware that most insurance companies require regular property inspections while a commercial property is empty. If these are not carried out as required under the terms of the policy, insurance can become void.
Adam Levene, Managing Director at RPPM said, “Property owners need to be more diligent and ensure compliance with their terms of insurance. Each policy will vary slightly regarding the level of requisite inspections so owners should carefully check the policy wording as to what is compulsory and arrange for the necessary inpections to take place whether this is weekly, monthly or quarterly.
“Failure to undertake regular property inspections could have disastrous consequences should anything happen to the property such as a flood or a fire. Should a door be unsecure or a fire alarm not properly maintained, insurers could be in a position to greatly reduce, or refuse any pay out, or charge highly inflated premiums in the future.”
RPPM offers a comprehensive management service and can assist with any property insurance inspections on the property owner’s behalf. For more information please contact Adam Levene on 01772 769000, adam@pinkus.co.uk