Tenants Improvements insurance
What is Tenants Improvements insurance?
Tenants Improvements insurance will cover you if you rent or lease a property and have spent money improving or refurbishing the property. This is important because your improvements will not be included in the landlord’s building insurance, so if the property burns to the ground, your landlord will only re-build the shell of the building (or its original state).
Tenant improvement insurance can normally be added to a commercial package or commercial combined policy.
What should my insurance cover?
Many policies can be extended to include a range of benefits such as:
Payment of fines & penalties
Payment of ransoms & extortion
Cover for lost or disrupted income
Cover for physical injury/damage
The cost of phone hacks
Cost of notifying your contacts
Incidents at your outsourced service providers
Social media risks
Improvements could include:
- Air conditioning
- Lighting
- Wiring
- Partitions
- A mezzanine
- Kitchen units
