Commercial Property Insurance

Your property is the engine of your business. We can help you protect it from all covered perils like fire, theft, vandalism, water damage to business interruption and more. With our knowledge and expertise, we would help you customize your business policy so your assets are protected. Big or small, we can help you secure them all !

Your commercial property is more than bricks and mortar, it is a core part of your business, hence, it is so important that youprotect it. A commercial property policy can help cover you against insured perils such as fire, theft, vandalism, hail, among many others. Regardless of whether you have a big or small business, a commercial property policy can safeguard you against losses related to your commercial premises and its contents.

Why do you need a Commercial Property policy?

Whether you own the premises or are renting it, a commercial property policy protects your most valuable assets inside and out, including, buildings, inventory, electronics and equipment, as well as exterior fixtures. Most carriers also offer business interruption coverage to reimburse business owners for income loss in the event that business cannot proceed at the insured premises. Along with the interiors of your property, a commercial property policy can offer coverage against outdoor elements such as signs, fencing, landscaping and more.

Considerations when setting up a Commercial Property policy?

When setting up a commercial property policy, it is important to consider your coverage requirements and conditions of building contracts. Speak with your broker to assess your situation and determine limits that adequately cover your exposures. This includes looking at the structural elements of your building (ie. age, square footage, construction type, etc.), the adjacent exposures, the value of the contents inside the building, the kind of operations conducted at the premises, among other factors. If you are a tenant of a commercial premises, make sure to consider your lease agreement conditions to ensure you are setting up an appropriate policy.

It is highly advisable to build up your commercial property insurance policy enhanced coverages that include the following extensions:

Business Interruption

Your business operations and income could be temporarily interrupted when your commercial property is damaged by a loss such as fire or water damage. That’s when the bottom line really takes a hit. Business Interruption coverage will compensate you for the loss of income as well as expenses incurred on repair or replacement of your commercial property.

Crime Coverage

This coverage protects your business against a wide variety of threats, causing unplanned expenses and lost time including; theft, robbery or burglary, fraud and expenses resulting from a Crime Loss. This coverage can again be either added to business policy package or bought as a stand-alone policy.

Sewer Back-up

This coverage protection is available for the area bounded by the bearing walls and foundations of your building in the event of damaged caused by the backing up or overflow of water from within sewers, sumps, septic tanks or drains.

Equipment breakdown

From a small retail outlet to a large manufacturing unit, equipment breakdown exposure impacts almost any business and can lead to substantial revenue loss. Equipment breakdown coverage covers losses resulting from accidental breakdown of boilers, machinery, heating, refrigeration, air conditioning, pressure vessels and/or electronic equipment that are specifically excluded from a commercial property insurance policy. This coverage is available as a stand-alone policy or could be added to your business policy package to cover repair and replacement of the equipment so insured.

What impacts the premium?

Like a homeowner’s policy, a commercial property policy premium can be impacted by the features of the dwelling (ie. age, square footage, update history), your claim history, the required coverage limits, among other factors. It is important to speak with your broker and discuss all relevant details in order to obtain a comprehensive policy that is customized to your needs.
Here are some ways that could potentially save on premium:

  • If you are the building owner, ensure that the amenities are updated to the most current building codes
  • You can take precautionary measures such as monitored alarm systems and CCTV cameras
  • Review risk management strategies with your broker in order to mitigate against situations that could lead to a claim situation


How can I set up a Commercial Property policy?

It’s easy! At Insurepedia, our team of seasoned experts can get you set up with a policy in no time. We have experience dealing with all kinds of properties: from retail stores, to condominium strata policies - we are equipped with the knowledge and industry connections to assist you in your commercial insurance needs. Feel free to email or call and discuss your insurance needs!

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