Latest Insurance News
Commercial buildings insurance: Fire damage costs landlord £1m
09 Jul 2010
Posted by Jonathan Walker
A Yorkshire pub devastated by fire is expected to cost its landlord around £1 million to repair, which could highlight the importance of having a commercial buildings insurance policy.
According to the Doncaster Free Press, flames ripped through the Owston Park Lodge, near Askern in South Yorkshire, quickly destroying the pub's interior and most of its roof after a skip to the rear of the building caught fire.
Licensee Paul Snow told the newspaper that repairs would cost in the region of £1 million and that the entire premises would need to be restored, which could take up to 15 weeks to complete.
He said: "We were really devastated when we got the call to say the fire had happened. We've had a wonderful response from the community and businesses we work closely with, they've all been so supportive."
Last month, Philip Suter, from jml Property Services, warned that commercial property insurance is "one essential" that landlords "cannot afford to be without".
