Commercial Property Insurance
At Consolidated Insurance Brokers we understand that you need fit for purpose commercial property insurance. Our team of insurance brokers will help you identify your unique insurance requirements, so we can find the best Commercial Property Insurance solution for you. Don’t wait until it’s too late, call us today to get 9 Commercial Property Insurance quotes fast, simple and easy.
Commercial Property Insurance
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What Is Commercial Property Insurance?
Commercial property insurance policies can provide comprehensive coverage for commercial properties across various industries. It allows owners to be protected against financial losses that could occur as a result of anything from malicious damage and natural disasters to machinery breakdowns and public liability. Generally speaking, these policies are more complicated than residential property insurance.
Choosing the right policy is essential for all property owners as it protects your assets and investments. It is a complex purchase that needs to be done right as it could potentially save your investment. Especially in a country like Australia, where natural disasters are unfortunately extremely common.
What can be covered
What may not be
Get Started With Commercial Property Insurance
Protect your commercial property investments from accidental loss or damage.
Why Insure Your Property?
Some policy features can include the following :
Provides cover in case damage arises to the building, structures and or to any renovated parts of your building. It can also include coverage for fixtures that are attached to the building, including cabinetry or air conditioning
This covers the contents inside your building, such as the furniture and equipment. Please note, if you are a property owner leasing your premises unfurnished, you may require your tenants to insure their contents.
Building Interruption Cover:
This can provide cover for the loss of income if your premises are damaged by an insured event (such as a fire or storm). However, it is important to note that this does not cover ‘tenant default’ (so there is no cover if a tenant just falls behind on their rent) and you will not receive any compensation if the event which caused the damage was not covered (for example if you do not have flood insurance).
Landlord Liability Cover:
Landlord Liability coverage allows you to be covered in the event of an accident that results in personal injury or damage to third-party property on your insured building. This could be as simple as someone slipping whilst visiting your tenant’s business, saving you costly legal fees.
While no one likes to think about the possibility of experiencing a loss, it’s important to be prepared in the event that something does happen. That’s why commercial property insurance is such an important safeguard for any business owner. Don’t wait until it’s too late to get the coverage you need – give us a call today to learn more about our commercial property insurance options.
Commercial Property Insurance Claim Example
James is the owner of several commercial properties, including a newly purchased tenanted industrial unit. He mentions this to his broker but tells him not to worry because he’s covered by the body corporate’s insurance.
His broker insists that he should at least take some coverage for internal fittings, loss of rent, and public liability, and James eventually agrees.
Shortly after, James is served with a notice of injury from a customer visiting his tenant, who slipped on a spill in the common area. The injured customer sued serving on James, the body corporate and his tenant, alleging they were all responsible for the injury.
James’ insurer indemnifies him and settles the claim with the other two insurers, each paying out $30,000 to the claimant. By having this policy, James avoided paying out his own legal costs to defend himself, and his only expense was a $500 excess.
Why Choose CIB?
Consolidated Insurance Brokers can help by placing you with the best policy for your needs. We’ll find you the most competitive rate possible, and offer advice to ensure your insurance protects what matters.
What our clients have to say
Why Use A Commercial Property Insurance Broker?
Insurance brokers are professionals that work on your behalf to secure an insurance policy that meets your unique insurance requirements and risk management needs. They help you understand the terms and conditions of the policy and negotiate the best price available. As they have access to policies that are not available to the public, they are able to offer you competitive quotes from reputable insurers.
So don’t do it alone – let Consolidated Insurance Brokers help you find the perfect commercial insurance policy for your business
Here at Consolidated Insurance Brokers we help you identify your unique insurance requirements, to make sure we find the best Commercial Property Insurance policy for you. Don’t wait until it’s too late, get expert advice from one of our knowledgeable insurance brokers today. We will provide you with the guidance and support you need to make the right decision for your property.
Frequently Asked Questions
There are many benefits of using a broker over buying directly from the insurer. Insurance brokers:
- Work on your behalf to secure you better protection through their negotiating power
- Help you understand your risks and empower you to make better life / business decisions
- Ensure insurers are held accountable to their promise to protect what you value during claims
- Save you time and money by taking care of comparing and customising policies for your needs
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Get a Quote Today
Talk today with our team to find the right kind of insurance that will suit your needs.