Commercial property owners – Water damage remains the most likely cause of a claim

There is a well-known saying that prevention is better is than cure. This adage is particularly true and, in relation to insurance for commercial property owners, can lead to thousands of pounds of premium saving.

Our statistics show that the most likely cause of claims in blocks of flats, hotels, retail premises and commercial buildings is water damage.

Early detection of leaks is curial to minimise a loss.  There are a number of companies that can provide water leak detection equipment which is an ideal solution for blocks of flats and other commercial premises, especially if there have a history of water damage claims.

We also recommend that commercial property owners have a water damage mitigation program in place. A simple measure such as making sure all occupants know where the mains water shut off is located can help to prevent minor leaking developing into a major claim.

For more information on how good risk management can reduce insurance premiums for commercial property owners contact Tony Gibbs on 01189 165 485.

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