Commercial Property Insurance
The resource of choice for the country’s most forward-thinking insurance professionals.
The resource of choice for the country’s most forward-thinking insurance professionals.
Commercial Property Insurance
Rely On A Reputable Insurance Broker
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
- Accidental, malicious damage and perils (eg. fire)
- Loss of rent
- Injury to third parties
- Damaged glass or signage
- Landlord legal liability
- Machinery breakdown
- Tax audit
What may not be
- Floor, unless requested
- Tenant default
- Deterioration (wear & tear)
- Neglect, lack of maintenance
- Properties vacant for continuous periods (varies by insurer)
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 :
Building Coverage:
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
Contents Cover:
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.
Others:
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.
Our Expertise
Committed to finding you the best insurance solution, our team of knowledgeable insurance brokers will get you the best price available
Your Partner
Safe time and effort by letting our team of expert insurance brokers do the work for you, we can manage your insurance on your behalf.
Clear Terms
We will put an end to the endless jargon, we can help you understand your quotes and policies in clear terms.
Full Cover
We are able to access insurance policies that are not available when buying direct, allowing us to get you a more comprehensive cover and better benefits.
What our clients have to say
109 James Street, New Farm
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Aimee made gaining a competitive insurance quote for our property a breeze. She communicated promptly and clearly, going out of her way to make sure the details were correct and I was happy with the product quoted. I wouldn’t … More hesitate to recommend her to anyone and she will be my first contact when looking for insurance needs in the future.
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I recently worked with Consolidated Insurance Brokers for a property insurance matter, and I was thoroughly impressed. Alison Neve handled my inquiry and was absolutely fantastic to deal with. She sourced six quotes within … More a day and managed to match one of them to my current insurer’s price—while offering even better benefits.What really stood out was Alison’s dedication. Despite heading off on leave the next day, she stayed back late to get everything sorted. Even after her leave, she followed up to make sure everything was in place.I truly appreciate this level of service and commitment. It's not easy to find such a hardworking and responsive team. I highly recommend Consolidated Insurance Brokers and look forward to working with them again.Thank you, Alison!
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A quick search online for Commercial Insurance led me to CIB, and I'm so glad that it did. Aimee Spencer made the whole process really easy for me, even though I first contacted them at 4pm on a Friday afternoon 🙂 She … More answered all of my questions and explained everything clearly, thoroughly professional. Outstanding customer service. Would highly recommend Aimee and Consolidated to anyone looking for business insurance.
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Debbie at Consolidated Insurance Brokers was exactly what I needed. I received very clear advice and support from her regarding my insurance inquiries. I highly recommend taking the time to talk with Debbie you won’t be disappointed.Thank … More You so much Debbie for helping me purchase the appropriate insurance for my investment. Excellent Service and Professionalism.Regards Deborah Movliatti
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I contacted Consolidated Insurance Brokers because I wasn't happy with the way I was treated as a number at my "other" insurance agency. I required insurance for 2 commercial properties and Clayton Rowlings, … More my broker had the best quote available, form a variety of underwriters, within 48 hours. Clayton steered me through an easy process and was a pleasure to work with. A 5 star rating for sure.
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
No Obligations, Completely Free
Get a Quote Today
Talk today with our team to find the right kind of insurance that will suit your needs.
