Commercial property insurance in Woking

Commercial property in Woking is dominated by corporate and technology offices, with retail and a commuter economy. Occupation, rebuild value and high-value contents shape the cover.

The commercial property landscape in Woking

Woking is a Surrey commuter town with a strong corporate and technology office base, a retail centre and good links to London. Office stock carries much of the commercial value.

The cover, in outline

• Contents, stock and plant at realistic values.
• Business interruption for lost gross profit and standing costs.
• The named perils — fire, storm, flood, escape of water, theft.

What matters for Woking property

• Corporate and technology offices. Multi-tenant and service-charge insurance, high rebuild values and a cyber exposure often assumed under property.
• High-value contents. Technology occupiers carry equipment and business-interruption exposure.
• Retail centre. Footfall, plate glass and stock exposure.
• Mixed and converted use. Newer high-rise and converted stock raise construction and allocation questions.

A Woking example

A worked example: a burst pipe high in a multi-let office building cascades down through several tenancies. Each occupier’s fit-out and lost income and the landlord’s building repair respond under different policies, and on a modern building an under-set reinstatement figure makes a bad day worse.

How we place the risk

1. Understand the building and the trade before approaching the market.
2. Pressure-test the sums insured, starting with the buildings reinstatement value.
3. Present the risk properly, because a well-presented risk gets better terms.

Where cover most often falls short

• Under-insurance on the buildings sum insured.
• A business-interruption period too short for real recovery.
• Cyber assumed under property — it usually is not.

Frequently asked

Related

• Public liability insurance Woking
• Business insurance Woking
• Landlord insurance Woking