The economic downturn has seen a rise in the number of vacant commercial properties in Britain.
The rate of empty office space in the City of London is around 12% compared to just over 5% two years ago (1). Across England and Wales, the rate of vacant town centre shops has gone from 4% in mid-2008 to 12% this year (2). In Scotland, reports have put the rate of unoccupied premises on business parks at 22% (3).
For insurers, unoccupied properties bring more risk. Fires are more likely, as are break-ins, malicious damage and liability problems. But for brokers and policyholders there's another problem. Hassle!
Insurers want information about unoccupied properties - lots of it. Why is the property empty? How long will it empty for? What security measures are being taken? Is housekeeping good? Has gas, electricity and water been turned off, etc?
That's not all. Insurers will want someone to inspect the property. Chances are, they'll ask that risk-reducing measures be put in place. Brokers and policyholders may not always be happy with these measures - at times, they may seem excessive or expensive.
But what if someone else looked at the property? Someone who knows what information insurers need. Someone who is an expert in looking after vacant properties. Someone who offers cost-effective ways to manage the risks unique to each property.
SitexOrbis are the UK's market leader in vacant property protection and empty property management. They're also one of Aviva's Preferred Suppliers.
They visit the unoccupied property and produce a detailed report free of charge. Policyholders benefit from their expertise, not only in keeping property secure and well-maintained, but also in attracting an early occupier. All at a price that's less than SitexOrbis would normally charge.
We get peace of mind. SitexOrbis are experts in their field. And for brokers and policyholders, it's a cost effective solution with much less hassle.
For more information contact the Aviva Risk Management Solutions helpline on 0845 366 66 66 and visit www.sitexorbis.co.uk. For more on Aviva's Preferred Suppliers, see www.aviva.co.uk/risksolutions/suppliers.