Moving out?

If you're vacating all or part of your premises you'll have to remember to do lots of things. It is vital that notifying your insurer is on your "to do" list.

Why do they need to know?

Because your insurance cover may be restricted if a building is unoccupied. Claims experience over many years has shown that unoccupied properties are far more vulnerable to damage than those that are occupied. Whilst insurers will still cover them for their customers, they will want to review the circumstances and may change their terms.

What if I forget?

Oh dear. That's the last thing you want to do. If something goes awry and you forgot to disclose a change to your circumstances, it could result in a claim being partly or fully declined. Or worse, your policy could become void.

But won't it cost our business more money?

It will certainly cost you money if you don't tell your insurer about unoccupancy and a claim occurs.
Insurers will ask for increased premiums if there is an increased risk. They will also restrict your cover. The potential consequences of not telling them and suffering a loss are far greater however.