Commercial property insurance covers the insured's property against loss or damage caused by fire and allied perils.
What is Commercial Property Insurance
Commercial property insurance, alternatively known as Fire and Allied Perils insurance – protects your company’s physical assets from fire, explosions, burst pipes, storms, theft, vandalism, earthquakes and floods.
What’s coveredCommercial property insurance covers your building, everything in it and just outside of it, including:
- Furniture and equipment
- Exterior signs
- Fence and landscaping
- Important documents
- Others’ property
What’s not coveredThis policy does not provide coverage for:
- Accounts, Bills, Currency (and similar property), animals, automobiles held for sale, bridges, roadways, walk, patios or other paved surface, contraband, property being transported by air or over waterways, land, crops, underground property, most vehicles, expenses related to replacing company records and other property.
- Acts of war are not covered under most commercial properties.
- Damage by vehicles owned by the insured
What’s optionalChoose optional add-ons at an additional cost to create cover that suits you.
- Political Violence and Terrorism: Cover against political violence and terrorism
- Business Interruption: Any expenses incurred or revenue lost as a result of a claim, such as rental income.
- Money: Cover can be extended to cover cash in transit, or cash on site
- Accident of Employees: It covers the employees of the organisation against bodily injury, which may result in disability or death
- Plate Glass: Covers accidental breakage of fixed plate glass
- Fidelity Guarantee: Covers loss of money or goods which happened due to fraud or dishonesty of employees.
Other types of insurance cover
You will need contents insurance, sometimes known as all risk cover, for items for which you require cover out with the home. Please provide details of these items at the time of quotation to ensure that the policy provided meets with your requirements.
Accidental Damage cover provides protection against costs incurred through damage that you, your family members or visitors may cause to the structure of your Building or to your Contents. Examples of incidents which would be covered under this extension include putting your foot through the loft floor damaging the ceiling below, leaving a tap running leading to water damage or carpet spillages. Such incidents would not be included under a policy taken out to cover Standard Perils only.
Additional charges will apply and in certain circumstances this cover might not be available.
Items kept in the garage or garden sheds will be covered under the Contents section of your policy provided you have included their value in the total sum insured declared. Limits may apply to the amount that can be claimed for theft of items taken from outbuildings and additional charges may be made for certain items such as ride on mowers. Cover for motor vehicles and motorcycles is excluded. Please declare your requirements for cover kept in outbuildings at the time of quotation to ensure that the policy provided meets with your requirements.
In most cases you will need to arrange cover for your own contents and personal possessions. Please refer to your tenancy agreement to check what, if any cover is provided by your landlord.
An excess is the amount a policyholder is required to pay towards the cost of any claim. You may be asked to pay this amount to a company that has carried out repairs on behalf of your insurer, or alternatively the sum will be deducted from any settlement received.
- Ensure you declare a list of items to be insured under contents insurance including serial numbers, model, make and have the correct sum insured
- Always keep valuables safely and locked out of site to protect against the risk of theft