Alexa Seleno

find the right professional insurance

Juil 10, 2023
find the right professional insurance

commercial space for rent

Starting a business is not always easy. Beyond the administrative procedures, the rental of commercial premises is a question that requires a lot of thought. Finding a good location is more than crucial to guaranteeing the success of your business. Therefore, you should avoid relying on your own intuition. You should be prepared to do a lot of research to find the ideal location, determine potential customers and the needs of your market.

Find a location for your business

Leasing commercial space is a process that involves a lot of uncertainties. Indeed, it is not uncommon to find yourself faced with unpleasant situations after signing the lease contract, such as a noisy neighborhood or access difficulties, among other problems. The research of rental of commercial premises is often more difficult than finding accommodation. In addition, the choice of the ideal location is a determining factor for the success of a commercial activity.

Before you start looking for a rental space for your business, you must consider the current and future needs of your business. The location requirements of a retail store, office or distribution center are very different from each other. In this sense, you must take into account the characteristics that can optimize the profitability of your activity before making a decision.

In addition, the prospect of growth of your business must be taken into consideration. If you are planning an expansion of your activity, you must take this into account when choosing the rental of premises that can adapt to such growth. For example, if your business activities take place in a store, it is recommended that you invest in the rental of commercial premises, which are easy to rearrange for a possible increase in activity.

Which insurance to choose for a commercial premises?

To guarantee the stability of a company, it is important to be well protected. This is also one of the keys to ensuring its continuity. Renting commercial space is not without risk. Unforeseen events such as fires, damage due to water leaks, electrical damage, theft and acts of vandalism can endanger the survival of a business. As such, it is essential to take out appropriate professional insurance:

  • Professional local insurance;
  • Professional civil liability insurance;
  • Professional multi-risk insurance;

Local professional insurance is focused on protecting a company’s assets. Either for the economic damage caused to a third party following a disaster, or to insure its own property. The basic guarantees of a multi-risk insurance professional relate to fires, floods, etc. However, there are a number of other benefits that should be included in your coverage if you want to protect your business.

In addition, there are optional guarantees that can be interesting to protect your business depending on your type of activity, we can cite for example:

  • Goods and refrigerated products;
  • Stoppages of commercial activity;
  • Equipment failures;
  • Glass breakage and replacement of locks.

Normally, these are the guarantees included in the commercial premises insurance. If you carry out a commercial activity on your premises, you need multi-risk insurance that covers both the structure (floor, walls, installations, etc.) and its contents (equipment and furniture). However, when it is an empty space or dedicated to the rental of premises, the tenant can take out civil liability insurance.

local rental

What insurance for a rented commercial premises?

When purchasing business premises insurance, it is not necessary to include coverage for the premises, as the landlord should have insurance to secure their property. In this context, the rental of premises requires the subscription of civil liability insurance to cover the damage that you could cause to a third party in the context of your activity. On the other hand, it is equally important to take out coverage to protect employees.

To conclude, it should be noted that some insurance companies offer guarantees that aim to alleviate the problems of paralysis of activity resulting from a claim. Indeed, it is necessary to continue to pay unavoidable costs, such as supplier invoices and employee salaries, and whose compensation can be an important aid to move forward.

The magazine-insurance team of editors at your service! We look at all possible and imaginable information on insurance in order to help you sort it out. We strive to offer you quality articles to help you better understand the issues of this or that insurance.

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