Property Owners insurance - your guide to complex risks

When you have complex risks to insure, a standard policy just isn’t enough. You will need a tailored, unique quote to cover your specific needs. Complex risks (or commercial combined risks) don’t fit within the ‘normal’ policy framework. Builders, motor traders, manufacturers and more will need a policy that goes above and beyond any ‘normal’ cover. Let’s take a look at the factors that may trigger this type of insurance need…

Providing cover for multi-tenancy premises

You might need complex risk insurance if, for example, you own a property with several different types of tenants. This might be a warehouse block with a jeweller’s workshop on one floor, an MOT centre at the back, an off-licence store at the front and an office tucked away in the top floor. How do you calculate the risk when there are many activities on one site?

It takes an expert to calculate the level of risk posed by a multi-tenure property, which is exactly what complex risk insurance provides. Stride can review the full details of your property and assess your risk level based on your individual circumstances.

Protection in hazardous circumstances

Complex risk insurance also provides cover for those facing particular hazards. Perhaps you are running a B&B from a property set in a stunning coastal location, where storms and landslides are a particular risk? Maybe you run a bakery in a street of medieval houses, where crooked doorways, thatched roofs and fire security are risk factors? Perhaps your business involves research on a promising but hazardous chemical? These factors would make some insurers refuse cover.

Stride Insurance understands that real life is complicated, so we are open to considering cover for individuals and companies facing challenging circumstances. All business involves risk, and the economy would grind to a halt if everyone suddenly became completely risk-averse. Our underwriters provide tailored policies which enable you to succeed. 

Complex claims history

It’s a hard truth that making a claim can change how insurers view your risk rating, even if the claim was not your fault. For example, you may have been broken into and had to claim for stolen equipment. On the other hand, sometimes insurance claims can become complicated and you will be held partly or wholly responsible for something, such as malfunctioning equipment which caught on fire and had not been serviced properly, or a wall that collapsed after showing clear signs of damage. 

Stride Insurance can provide insurance for people whose claims history makes it hard to secure cover, and for property portfolios with known risks such as flooding. Rather than having an automated refusal for people in these situations, we will consider all the factors to se if we can help protect your business and assets. 

Why Stride Insurance’s approach is different

How do most high street insurance brokers arrange cover? For the most part, they rely on off-the-shelf policies or quote engines. These methods might work for the most straightforward businesses, but those with complex risk will simply not be accommodated by the system. 

Stride Insurance does not see complex risk insurance as a box-ticking exercise. We consider the full facts of each situation, building a unique risk profile and pricing premiums accordingly. Our quotes are tailored for each individual set of circumstances and we manually underwrite cover, so you will not be forced into a predetermined category that may or may not suit you. 

A team equipped for complex underwriting

We’re not new to complex risk insurance – our team has 40 years of expertise in the field. It’s highly likely that we have insured a business or individuals with similar risks to yours many times. Our in-house team carries out administration, policy documentation and claims processing, so you will not have to worry about your documents being lost somewhere en route to an outsourced processing office in a far flung corner of the globe.

The Stride Insurance team also has access to a number of high quality property owner facilities, making us well-placed to help you secure insurance cover. We help property owners of all types, from blocks of flats to residential lets, from diverse portfolios to licensed and commercial premises. 

One size does not fit all

Our approach is to handle each client on a case-by-case basis, paying close attention to risks. We never dismiss insurance applicants out of hand, and will listen carefully to your explanation of your specific details before making a decision. Our expertise and ability makes us an excellent choice for property owners facing complex risks. 

If your business faces complex risks and you want an insurer who will take the time to consider your situation in the round, why not contact Stride Insurance today? Our expert team will be glad to help. 

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Need help finding the exact insurance for you? Get insured
Need help finding the exact insurance for you? Get insured