Business Owners Policy
Property and general liability bundled into one policy for small and mid-sized firms.
Read more →Business Insurance
Commercial Property
Buildings, contents, stock and equipment against fire, theft and weather.
What this cover does
Commercial property cover turns on two things that are easy to get wrong: whether you are insured for replacement cost or depreciated value, and whether the limit reflects today’s construction prices. Underinsurance triggers a coinsurance penalty that reduces every claim, not just total losses.
Typically included
- Buildings you own, including fixtures and permanently installed equipment
- Business personal property — contents, stock, furniture and machinery
- Tenant improvements and betterments you paid for
- Outdoor property including signage and fencing
- Debris removal and fire-department service charges
Common add-ons
- Replacement cost rather than actual cash value
- Agreed value to remove the coinsurance penalty
- Business income and extra expense
- Inland marine for property that moves
- Flood and earthquake, which the base form excludes
Questions
What people ask about property
What is a coinsurance penalty?
If you insure for less than the stated percentage of value — commonly 80 or 90 per cent — the carrier reduces every claim in the same proportion. Carrying an accurate limit, or buying agreed value, removes it.
Is flood included?
No. Flood and earth movement are excluded from standard commercial property forms and are written separately.
Often taken together
Related cover
General Liability
Third-party injury, property damage and advertising injury claims against your business.
Read more →Quote Commercial Property
Tell us what you already have and we will show you where this fits — or tell you plainly that you do not need it.