Unoccupied pub insurance
Everyone loves a bargain. It is a big difference though between saving a few pounds on something in the high street compared to taking a financial gamble in the fickle UK property market.
As a major business insurance broker, dealing with thousands of customers on an annual basis, we see which parts of the UK economy have suffered more than most. Nearly every quarter of industry has suffered, even now, in 2011, I am struggling to think of one industry that did well out of the recession. But, the leisure and building industries seem to have been hardest hit. The number of empty pubs, restaurants and takeaways throughout the land are still increasing.
The bargains we talk about are people that look to buy up empty properties and get planning permission to convert to other use, normally residential. If you are buying a pub, you are probably getting some sort of funding and will have a need for unoccupied building insurance.
Unoccupied pubs are an extremely difficult type of business to place. We have an ever decreasing number of markets available to us and can only get quotes if you comply or meet the following demands.
1) The pub needs to have been empty for less than three years.
2) You need to have definite plans in place for the future use of the building.
3) If you are looking to convert to residential use, you need to have planning permission in place and the work has to start within 60 days.
Any other type of unoccupied property is pretty easy to get a quote for, it is just that pubs are the ones that suffer the most losses. The best thing to do is to give us a call to discuss what you need and we can tell you there and then whether we can help you or not.
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