What is Commercial Property Insurance?
Commercial Property Insurance (also known as ‘Building Insurance’) covers you against loss or damage done to your property.
This comprehensive insurance offering can include a collection of relevant policies such as Strata Title and Landlords Insurance depending on your specific property and circumstances.
Do I need it?
If you own any type of commercial property no matter what size or type, you need Commercial Property Insurance.
It covers a range of different property types including warehouses, shopping centres, factories and unit and apartment blocks.
What does it cover?
A typical Commercial Property Insurance policy will provide cover for:
- Damage from floods, fire, or earthquakes,
- Malicious and accidental damage,
- Loss of rent,
- Personal injury/property damage,
- Machinery breakdown
The main options whern arranging commercial property insurance are:
- as part of your tailored Business Insurance Package,
- A Strata Title Insurance Policy,
- A Landlords Insurance Policy,
- An Industrial Special Risks Insurance Policy. This is mostly for Properties valued above $5 million (Please note: you may also require a separate Public Liability policy with this option).
How Coverforce can help
Our experienced insurance brokers can assist you with personalised risk advice and the placement of your Commercial Property Insurance policy.
We understand that every property is different and has varying requirements. Different solutions can be tailored to best meet your specific risks depending on the value of your insured property and how it’s used and managed.