Are you aware of, and have you declared your tenant’s business activities? If you’re not sure, please read on, because that’s the focus of this article’s insurance tips for property owners.
Property owners insurance tips
As a commercial property owner, there may be a number of different tenants conducting business from your premises. But are you aware of their exact business activities? Are these up-to-date on your commercial property insurance policy schedule?
It’s important to be aware that incorrect or missing details on tenant business occupations can have implications for your insurance cover. This is particularly relevant with the shift COVID19 has brought to our economy, pushing many businesses to innovate and tweak their core business activities.
We’re part of the Community Broker Network, and they’ve recently prepared an indepth article here that covers:
- Why it’s important to ensure your tenant business activities are up to date with your insurance broker
- How inaccurate information can affect your insurance cover
- Issues with tenant occupations not being accurately listed
- And steps you can take to ensure your tenant information and insurance solution is accurate.
We would encourage you to read up if you want to know more about any of those specific topics, or if you think this might be relevant to your situation.
Property owners insurance assistance
Not sure? Need a hand? We would be happy to discuss your needs, assess your current insurance solution and provide you with a quote. Just give us a call on (03) 5821 7655 or contact us here.
This article provides information rather than financial product or other advice. The content of this article, including any information contained in it, has been prepared without taking into account your objectives, financial situation or needs. You should consider the appropriateness of the information, taking these matters into account, before you act on any information. In particular, you should review the product disclosure statement for any product that the information relates to it before acquiring the product.