Every commercial property is different but they can all be susceptible to instances of damage, loss and theft.
Should an incident occur and your property is left unprotected, you could be left exposed to significant financial and reputational damage.
Commercial Property Insurance (or Building Insurance) covers you against loss or damage done to non-residential properties. It can include a collection of relevant policies such as Strata Title and Landlords Insurance depending on your specific property and circumstances.
What does Commercial Property Insurance cover?
A Commercial Property Insurance policy helps protect your business assets from unexpected events that could result in financial loss.
Cover typically includes:
- Damage from natural disasters such as floods, fire, storms, and earthquakes
- Accidental damage from unforseens incidents that impact your property
- Loss or damage due to theft or malicious acts such as vandalism
- Loss of rental income if the property becomes uninhabitable due to an insured event.
- Protection agains personal injury or property damage claims made by a third-party
- Machinery breakdown cover for repair or replacements costs for essential equipment
Types of Commercial Property Insurance
When arranging Commercial Property Insurance, your coverage may be structured through:
- A tailored Business Package Insurance policy
- A Strata Title Insurance Policy for multi-tenanted buildings
- A Landlords Insurance Policy for commercial rental properties
- An Industrial Special Risks Insurance Policy. This is designed for high-value properties (above $5 million), though a separate Public Liability policy may also be required with this option).
Do I need Commercial Property Insurance?
If you own a commercial property, regardless of its size or type, having Commercial Property Insurance can be essential to help protect your investment from financial loss due to damage, theft, or liability claims.
Commercial Property Insurance covers a wide range of commercial properties including:
- Warehouses and industrial buildings
- Shopping centres and retail stores
- Factories and manufacturing facilities
- Office buildings and corporate premises
- Unit and apartment blocks
Whether you're a landlord, business owner, or property investor, having the right commercial insurance cover helps to ensure your assets are protected against a range of unforeseen risks.
Request a quoteHow Coverforce can help
At Coverforce, we can help you to arrange insurance cover that is tailored to best meet your specific risks, depending on the value of your insured property and how it’s used and managed.
For more information or to arrange cover, please contact your local Coverforce Office or simply fill a quote form below and one of our insurance brokers will get in touch in one business day.
Alternatively, simply fill out the Commercial Property Insurance quote form below and one of our insurance brokers will get in touch within one business day.
Request a quote
