Theft of metal in the UK, from vacant commercial properties has risen dramatically since 2004. According to insurers, it is the actual damage that is made by the thieves attempting to take the metal which is proving to be the biggest problem for commercial property owners. Some claims are even accounting for 20% of an entire property’s value.
Zurich Business Manager, Ian Parker, commented: “We have seen cases where theft of cabling has disrupted asbestos in ceilings meaning the whole lot then needs to be professionally removed. The removal of pipes can lead to the escape of water, which might mean anything from a small leak to major flooding.”
Owners of vacant commercial properties therefore need to be checking their premises on a regular basis.
Making regular visits to the premises or having a security companies make the visits for you is beneficial as this could deter a thief. Buildings need to be secure and free from damage, Commercial Business Insurance is needed in all cases, whether your property is vacant or not, to protect you should a break-in or attempted break-in happen to your premises.
Vulnerable properties at risk from theft are large warehouses or factories as their size and function mean they are likely to have more cables, making them attractive to metal thieves.
Larger properties are also likely to be in industrial estates that are quiet outside of working hours and have yard areas so that vehicles can be driven on site to carry stolen goods.
While office buildings in office parks do share many features with industrial properties, the quantity of valuable metals might be less and it is also usually more difficult to remove. If thieves manage to get onto this type of property, the risk of more damage that can be made can be higher.
The Insurance Octopus gets the right insurance for your business at the right price to help cover you against the risks that commercial properties present. Let us quote for your commercial business insurance or office insurance today.