Financial protection for your business following insured loss or damage at the premises insured. The cover replaces the shortfall in your rental income up to the indemnity period that you have selected.
Cover usually includes:
- Payment of expenses which continue to be incurred
- Any additional expenses incurred which assist in preventing or reducing a drop in rental income
- Accountant’s fees incurred by you in producing information in support of a claim
- Loss of income due to damage to a nearby property that prevents tenants gaining access to the premises
- Reduction in income due to loss or damage at the public electricity, gas and water supplier’s premises
- Loss or rent due to damage at managing agent’s premises
- Loss of rental income due to Legionellosis (Legionnaires disease)
- Closure of a nearby attraction which has a detrimental effect on rental income, both for existing rentals and whilst negotiating a new lease
- Cover for the additional interest payable whilst being repaired or replaced should a building awaiting sale be damaged or destroyed
- Failure of tenants insurances up to £500,000
- Inadvertent failure to insure up to £500,000
- Privity of Contract up to a limit of £2,000,000
- If there is a pre-existing Cessor clause in the lease, any loss under this section would include payment of the insurance premiums that the lessee would have paid.
- Includes any premises occupied by yourselves