Mixed use properties

risk, as they suffer a higher frequency of fires than many other businesses. That said, a good fire break between a commercial and residential property could actually affect the premium positively, as it will reduce the risk of a claim being made. Insurance companies keep very careful records of claims and their causes, so that they can charge the appropriate premiums to landlords and tenants respectively.Property owners also need to consider the potential for loss of rent within their landlords’ insurance arrangements. In situations where property is let for domestic use, loss of rent insurance can be relatively straightforward. However, for commercial property – where there can be considerable delays in getting planning permission, meeting building regulations and finding a builder before rebuilding work can be started – it is important to look at more sophisticated forms of loss of rent cover, with indemnity periods of at least two years. Additionally, property owners’ liability and legal expenses insurance are likely to be different and getting the right advice is essential when considering insurance for landlords.As such, it is important to make sure you always seek independent professional advice before making any decisions about property owners’ property and liability insurance as well as your financial obligations. Always make sure that you ask your insurance advisers what experience they have of dealing with residential or commercial rental property insurance before