Commercial Building Insurance
Protect your commercial property with tailored insurance solutions. From offices to warehouses, ensure your assets are covered against unexpected risks.
Call Us: 1300 900 207
Get a FREE QUOTE
Complete the form to request a FREE QUOTE. Call us at 1300 900 207 for immediate response.
Protect Your Property With The Right Insurance
As an owner of commercial buildings, comprehensive insurance cover for your building is crucial. At Coverscope we have decades of experience assisting clients with commercial property owners insurance.
Whether you own a small building with a single tenant or a large multi-tenanted (or multi-building) property or anything in between, the team at Coverscope can find a solution that fits. We have dozens of insurers onboard to assist including local Australian and Lloyds market options.
What Can It Cover?
The most commonly included cover sections are as follows:
- Property Damage: This is the main cover section, covering loss or damage to the building and structures at the premises. Events include accidental damage, fire, storm, water damage and more.
- Business Interruption: This cover section is critical, covering lost rent if the property is unable to be rented following a claim for damage to the property.
- Property Owners Liability: Public Liability as an owner of the property.
- Machinery Breakdown: Covers breakdowns of machinery , an example of this would be the air conditioning units.
Insurance Solutions For
- Warehouses
- Factories
- Workshops
- Single or Multi Tenant
- Commercial or Mixed Residential
- Shopping Centres
- Homemaker Centres
- Free Hold or Commercial Strata
- Offices
- High Hazard Tenants
- Inferior Construction (Timer / EPS)
- Partially or Fully Unoccupied
5 Star Google Reviews
We are proud to provide trusted business insurance solutions, backed by 5-star Google reviews. Experience peace of mind with coverage tailored to your needs and exceptional customer service you can rely on.
Business Package Policies for Smaller Properties
The insurance approach for commercial properties largely depends on the total asset value of the buildings or premises. Typically, properties with an asset value under $10 million are insured through a business package policy. These packages provide tailored coverage options that suit smaller or single-location businesses, offering protection for risks such as property damage, business interruption, and public liability.
Industrial Special Risks for High-Value Properties
For larger property schedules exceeding $10 million in total asset value, an Industrial Special Risks (ISR) insurance policy is usually recommended. ISR policies are specifically designed to cater to the needs of businesses with significant assets or multiple locations, providing broader and more comprehensive coverage. This type of policy can cover a wide range of risks, including physical loss or damage to assets, machinery breakdowns, and loss of profits due to business interruptions, ensuring that high-value commercial properties are adequately protected against unforeseen events.
Your Trusted Business Insurance Partners, Wherever You Are
For immediate response please give us a call.
Our team continues to work remotely but you are welcome to arrange an appointment with one of our consultants.
Get a FREE QUOTE
Complete the form to request a FREE QUOTE. Call us at 1300 900 207 for immediate response.
Case Study
Rohan owns a shop in the city. One night a water pipe bursts, flooding the building and damaging his stock. Even worse, the building must be evacuated and renovated to repair all the water damage. This means that Rohan is unable to trade for six weeks.
Rohan’s business insurance covers the cost of the renovations. And, because he has business interruption insurance, he receives a payout to cover the income lost while he’s unable to trade.
What usually isn’t covered?
Exclusions, and the excess you need to pay, and limits of liability
can vary greatly depending on your insurer and the requirements of your business.
Most policies have a similar set of exclusions, examples include:
- Flood: Water damage from storm and rain is covered, flood is typically excluded, however can often be added as an optional benefit.
- Wear And Tear: Insurance is not a substitute for proper building maintenance.
- Cover For Tenants Property: This is the responsibility of the tenant.
- Public Liability For Business Operations: The liability cover is for an owner of the property only. If you own the property and also operate a business, we can source a separate policy to combine the two (and save premiums in the process)
Do I need property owners liability if the tenant already has public liability?
Yes, claims for injuries sustained at the property are often made against the property owner and may not involve the tenant at all.
What about flood cover?
By default, Flood is excluded on most commercial property policies. This can often be added in as an optional extension.
Why does the tenant business affect the premium?
Some occupations are more hazardous than others. For example, a surfboard manufacturer or fibreglasser is a higher hazard than an office, therefore premiums for the building are rated accordingly. It can be a good idea to check with us before you settle on a new tenant in case their business activities push the premiums up too far.
I bought a commercial unit in a strata titled building, do i need to insure it?
Not usually, there should be a strata title building insurance policy in place for the body corporate. We can help with cover for your contents & fitout though – check our Business Insurance page.
Get in Touch
Simply fill in the form below and we’ll be in touch shortly, or feel free to call and tell us about your specific requirements.
-
PO Box 7005, Mount Crosby QLD 4306
Our team continues to work remotely but you are welcome to arrange an appointment with one of our consultants.
Please complete the form to submit an enquiry.
