Commercial Property Owners

Available on Acturis and Pen Central

Digital Team: 01420 470 504 Email: uk.propertyowners.enquiries@penunderwriting.com Manual Team: 01420 470 517 Email: uk.propertyowners.nb@penunderwriting.com

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Our Property Owners product is available via e-trade platforms such as Acturis and Pen Central (Platform 2), where most risks can be quoted instantly without referral.

For more complex risks, higher sums insured or larger portfolios, you can engage directly with our experienced underwriters.

Our appetite includes:

• wide range of commercial trades from offices to retail shops and leisure to wholesalers and manufacturers,
• unoccupied properties and properties undergoing non-structural development works,
• listed building and properties constructed from 1800 onwards,
• multi-tenure and mixed commercial and residential risks, and
• larger portfolios, including a simple approach to multi-property risks on manually underwritten policies

You'll find us easy to do business with. For risks that don’t fit e-trade, all you need to do is provide us the Insurer Quote Reference (IQR) from e-trade platforms and we can access and review the risk details.

Not only will you get a quick response, but we can be flexible about what we cover and can offer discounted rates for good risks.

At Pen Property Owners, we have in-house claims service so all of our clients have a dedicated claims team and their expertise means bespoke support that adds value at every stage in the process.

Who Qualifies?

• wide range of commercial trades and mixed use properties (commercial with residential above)
• multi-tenure retail, leisure and industrial risks
• non-standard construction such as felt on timber, rockwool and mineral wool cladding, timber/wood weatherboard and UPVC Plastic Weatherboard
• portfolio capability
• unoccupied properties and properties undergoing non-structural development

What's covered?

- Average Waiver and 85% Reinstatement cost if the property was professionally valued in the last 3 years
- Automatic cover for newly built and/or newly acquired buildings and for alterations, additions, and improvements to the buildings
- Day One cover options up to 50%
- Property Owners Liability options from £2M to £10M
- Renovation Works up to £100k on digital, higher limits on manually underwritten policies
- Sum insured will be adjusted during the period of insurance in accordance with fluctuations in suitable indices of cost
- 24/7 365 Helpline for spillage (oil & chemicals) and environmental clean-up costs including statutory costs
- Archaeological Discoveries
- Architects’, Surveyors’, Legal and Consulting Engineers’ Fees
- Costs and expenses incurred in locating and repairing the actual source of the damage caused by escape of water or oil from any tank, apparatus or pipe
- Costs incurred in clearing, cleaning, and repairing drains, gutters, and sewers
- Damage to landscaped gardens and grounds as well as gardening equipment
- Damage to the building caused by police as a result of their concern for the welfare
- Failure of Third-Party Insurances
- Illegal Activities and Illegal Cultivation of Drugs
- Inadvertent Omission to Insure
- Loss of Market Value and Diminution in Value
- Loss Minimisation and Prevention Expenditure
- Professional Fees in the reinstatement of property
- Removal of Debris following a loss
- Replacement of Keys and Resetting of Digital Locks
- Value Added Tax
- Optional Covers such as Composite Insurance, First Loss Payee, Japanese Knotweed, Managing Agent Subrogation, Storm and Flood Protection, and Storm and Flood Resilience