Commercial Property

Commercial Property

Your building faces a wide variety of risks - ranging from losses and events that could cause you substantial loss of rent or the complete loss of your building to minor losses.

What does it cover?

Commercial property insurance covers your building, everything in it and just outside of it, including:

  • Computers
  • Furniture and equipment
  • Exterior signs
  • Fence and landscaping
  • Important documents
  • Inventory
  • Others’ property

 

Commercial property insurance protects your company’s physical assets from fire, explosions, burst pipes, storms, theft and vandalism. Having a building out of action could be devastating to your business or finances and having the correct cover can be the difference in how soon you bounce back.


What can affect an insurance premium?

  • Location: 
  • Buildings in cities or towns with good fire protection typically cost less to insure than buildings outside a city or in areas with limited fire protection.
  • Is the area prone to storms and other natural disasters? 


  • Construction
  • Buildings made of combustible materials will have higher premiums, while those made of fire-resistant materials may be lower.
  • Does it have new or upgraded electrical wiring and\or plumbing?
  • Additions to an existing structure might affect a fire rating, so it's a good idea to talk to an agent or insurance company before remodeling. 
  • Internal structural elements can also affect a fire rating. Using wood partitions, floors, and stairways in an otherwise fire-resistant building will likely nullify any rate reduction. 
  • Fire-resistant interior walls, floors, and doors can help maintain a good fire rating.


  • Occupancy
  • An office building will likely rate better than a restaurant or auto repair shop. 
  • In a building with multiple tenants, one hazardous occupant will negatively affect the fire rating of the entire building. 
  • If a business is in a building with a more hazardous tenant, premiums will be higher.


  • Fire and Theft Protection
  • Is there a monitored alarm and it this connected to the fire system?
  • How far is the nearest fire hydrant and fire station? 
  • Does the business have a fire alarm and/or sprinkler system? 
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