Identify the insured property
Separate the building from tenant improvements, stock and equipment. Check ownership and lease obligations so that the description reflects who is responsible for each asset.
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Commercial Property Insurance
Commercial property insurance starts with the buildings, fit-outs, stock and equipment that support your operation. An owner and an occupier can have different interests in the same premises.
Who it is for
Owners or occupiers of commercial premises, stock, fit-out and business equipment.
Explore the cover
These are areas to discuss, not an automatic inclusion list. Available sections and cover depend on the selected wording and schedule.
Values and replacement
Rebuilding or replacing an asset is different from selling it. Discuss the valuation basis, specialist equipment, debris removal and any costs that need specific inclusion or limits.
Damage is only part of recovery
A repaired building may not immediately restore trade or rental income. Business interruption and loss-of-rent interests need their own wording, values and recovery assumptions.
Information for quotations
Provide locations, ownership and tenancy details, construction and use, asset values and their basis, security, vacancies and recent fit-outs or occupancy changes.
Limitations and exclusions to discuss
Discuss insured property, valuation basis, selected events, exclusions, excesses and obligations around changes in occupancy. Rental income and trading interruption are separate questions.
Frequently asked questions
Is rebuilding cost the same as the property sale price?
They describe different things. The property and the proposed valuation basis need assessment; a sale price should not silently become an insurance amount.
What if a tenant changes or the building becomes vacant?
Explain the new use and vacancy period. Check the applicable notification requirements and terms before assuming the existing arrangement remains suitable.
Talk through your business.
Tell us what you do, what is changing and what you would like to understand. We can help organise the questions and the information needed for a meaningful insurance discussion.