Is your unoccupied property insurance costing you too much time and money?

Posted on April 24, 2020.

As the country continues to work under government lockdown, until at least mid-May, vacant properties across the UK are extremely vulnerable.

We have recently assisted a large, private sector company, protect a portfolio of empty commercial buildings that were being subjected to squatters and vandalism.

Despite having unoccupied insurance, this had been invalidated by our client not being able to carry out the tasks required on the insurance policy. The red tape surrounding insurance for vacant properties is very difficult to navigate for anyone other than insurance professionals.

Once our client advised us of her situation, we contacted our expert unoccupied insurance broker and assisted our client with quality advice.

The first thing we noticed was that the commercial properties were only covered for acts of fire, lightning, explosives and aircraft. None of these risks were relevant to their current predicament, rendering the insurance policy unsuitable to their true needs. Moreover, the unoccupied insurance policy for their whole vacant commercial property portfolio, was a very expensive and ineffective measure, which failed to safeguard the needs of our client.

Our insurance broker immediately assessed all of the empty buildings in the portfolio and provided insurance quotes that met the needs of our client. Not only were the quotes our broker offered cheaper, they were also far more effective in safeguarding our client’s requirements for the vacant property stock.

Furthermore, our client’s broker was resistant to the use of British Standard BS8584:2015 Protection by Occupation, and preferred the use of outmoded and costly vacant property protection through expensive metal screens, alarms and CCTV cameras. Despite trying to reason with their insurance broker, they were not willing to listen to any other option.

At this point our insurance broker offered our client full risk unoccupied insurance cover for the entire vacant property portfolio, and incorporated our British Standard BS8584:2016 Protection by Occupation service as a far more cost-effective solution.

Our client immediately cancelled their former unoccupied insurance policy and switched to Global Guardians. We helped to remove the squatters via our in-house legal team and began the works required to make the building habitable for our property guardians. Our insurance broker provided the full risk unoccupied property insurance policy for the entire empty commercial building portfolio, and helped negotiate out of the previous policy.

The empty buildings were then occupied by our property guardians with no further attempts by squatters or vandals to break into the property to carry out damage. 

If this story sounds similar to you, and you are the owner or manager of vacant property, Global Guardians are available to assist you. Contact our office today on: 020 3818 9100 and select option 2 to speak with our vacant property experts.

We can save you time and money through our tailored vacant property security solutions today. 


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