Unoccupied buildings are a valuable business asset, so it’s vital that you take appropriate steps to keep all the buildings in your portfolio safe and secure.
In this post we’ll highlight why unoccupied commercial properties are at risk, while outlining how an unoccupied building risk assessment will help you manage and mitigate these risks.
If you’ve any questions or concerns about your insurance needs, we have a team of experts on hand to assist. Contact us on 020 8290 9080 or email business@anthonyjones.com.
Be sure to also read our guide to paying business rates on unoccupied commercial properties.
Why Are Unoccupied Commercial Properties At Risk?
Unoccupied properties are at risk primarily because they’re unsupervised. This means that:
- Thieves, vandals, or squatters may target the building.
- Any minor issues could quickly escalate into a major disaster. For example, if a small leak breaks out and nobody’s around to address it, it could soon become a significant escape of water issue.
Why Risk Assessments are Important for Unoccupied Commercial Properties
Completing a risk assessment for any unoccupied property is essential for businesses for a number of reasons, including:
- Safety – If a member of the public is injured on or around your unoccupied property, they may make a claim against you. If it transpires that you did not take steps to secure the property, then you could face significant legal fees and compensation payouts.
- Protection – Above all, a risk assessment will help you identify the steps you need to take to protect your valuable business assets from fire, flood, theft, vandalism, and other events.
- Insurance – You may be required to take steps to secure your unoccupied commercial property as a condition of your business insurance. This means that foregoing a risk assessment could invalidate your policy.
Writing An Unoccupied Buildings Risk Assessment: A Checklist
- Identify possible hazards.
First, take the time to itemise all the potential hazards associated with your unoccupied property. This can include:
- fire risks
- flood risks
- unauthorised access
- theft
- possible structural issues
For each hazard, specify exactly who or what is at risk, whether that’s the integrity of the building itself, onsite security staff, interlopers, or passers-by.
- What measures are in place?
For every hazard you identify, highlight the measures that are currently in place to manage or mitigate the risks. This might include:
- fire doors
- fire alarms
- sprinkler systems
- CCTV systems
- locks
- security shutters
- onsite security personnel.
Itemising these measures should also help you identify any possible gaps in your safety or security systems.
- What further action do you need to take?
If you identify any weak spots in your safety or security systems, you should then specify what actions you’re going to take to address these issues. This might involve:
- investing in more onsite security
- arranging for renovations to fix structural issues
- arranging CCTV system installers
In each case, make sure you specify who exactly is responsible for carrying out the actions, and set a timeframe for completing them.
Keeping Your Unoccupied Building Safe
Joe Penny, Associate Director says:
“A risk assessment is never a one-and-done job. If you want to keep your vacant or unoccupied commercial property safe, you’ll have to regularly review and update your risk assessments. You should also check up on your property as often as you can, so that you can address any potential issues as early as possible.
“It’s also important to ensure that you have adequate insurance cover for your unoccupied properties. Your current business buildings and contents insurance may only cover occupied properties. So don’t assume that you already have the cover you need.
“The good news is that if you can evidence your policies for managing the risks associated with your unoccupied property, you may be able to reduce your insurance premiums. At Anthony Jones, we can advise you on the steps you can take to keep your property safe, and we can then help you access the comprehensive cover you need at a competitive price.”
If you’ve any questions or concerns about your insurance needs, we have a team of experts on hand to assist. Contact us on 020 8290 9080 or email business@anthonyjones.com.
