Property insurance is tied to location by nature: cover applies at the address named in the policy – the place of risk. Whatever is elsewhere is, by default, not insured. This simple rule causes a surprising number of claims disputes.
- Cover applies at the address stated in the policy – the exact address, the exact building.
- A new site, warehouse expansion, temporary storage: without notification, it can remain uncovered.
- Mobile assets (exhibitions, work carried out at a customer's site) are a matter for off-premises cover.
Why is location treated so strictly?
The insurer sets the premium against the risk of that specific location: construction method, fire protection, security, surroundings. A city-centre office and an industrial-estate warehouse aren't remotely comparable in risk – which is why cover doesn't automatically "travel" with an asset. That's why the policy states an exact address, often a land registry number too.
The typical traps
A new site opens, and the policy doesn't keep up – the assets at the new address are uncovered. A temporary move to a rented warehouse during a renovation – stock at an address not listed in the policy can sit unprotected. A machine stored in a colleague's garage, a demo unit taken to an exhibition – all part of the off-premises group. The solution is always the same: report the change before it happens – details in the article on reporting a change of data.
Seasonal rentals deserve special attention: the extra warehouse rented for the season, stock taken to an event, a container set up for the duration of a renovation. These are typically short-lived locations – which is precisely why they're left out of the policy. Most insurers can handle a temporary location: the key is that the request needs to arrive before storage begins, not after.
Multiple sites and mobile assets
Multiple sites can be handled under a single policy, with sums insured set per site – the practice of this is covered in the article on multiple sites under one policy. For assets that are regularly on the move, off-premises cover is the answer. When relocating, the order is critical: cover for the new address first, then the move – see the article on changing premises.
How to keep your list of locations up to date
Once a year – at the latest at a review, if warranted or on request – it's worth going through it: at which addresses does the company hold assets (sites, warehouses, rented storage), and does each one appear in the policy with the correct sum insured? During the year, only one habit is needed: every change of location – a new address, a warehouse closing, temporary storage – must also be reported on the insurance side, before the change happens.
This list is one item on the review checklist – once the routine is in place, the place of risk will very rarely become a point of dispute.
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