Commercial Property Insurance

Tailored commercial buildings insurance for owner occupiers and landlords.

Commercial property insurance is a tailored policy which covers your commercial building.

We specialise in packaging up your commercial buildings insurance policy to ensure that your cover is comprehensive and also competitive.

We work with both owner occupiers and landlords to ensure they are covering their properties correctly.

Don’t spend countless hours shopping around for commercial property insurance cover, we provide you the most competitive insurance cover options the first time.

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What you need to know about

Commercial property insurance

Commercial property insurance for owner occupiers

If you are a commercial property owner occupier then there are a number of things you need to consider that a landlord doesn’t need to consider. For example:

  • Cover for the contents, stock and fitout of the property
  • Cover for theft of contents and stock
  • Cover for your business activities being operated from the property suchas public liability
  • Cover for loss of trade if you were unable to operate from the building due to damages

Commercial property insurance for landlords

Although landlords don’t operate a business from the actual property the main things to consider when looking at commercial buildings insurance are:

  • What is the tenants occupation (this will affect your premium)
  • Covering the replacement value of the building
  • Who is responsible to cover things like air-conditioning and ducted cooling or heating
  • Cover for your liability as a property owner (property owners public liability)
  • Loss of rent or income

If your property is part of a Strata title scheme you will need to consider commercial strata insurance as there are a number of regulations that you need to meet under your Strata title that aren’t able to be covered by standard commercial buildings insurance.

We keep our paperwork to a minimum so its simple, quick and straight forward.

Why Priority Insurance Brokers?

Why should you use Priority Insurance Brokers to arrange your Commercial Property Insurance?

Save money on your renewal. Request a quote today.

What to look out for with Commercial Building Insurance

Need a Broker who can assist with your commercial building insurance? We've got you covered.

We understand that there is a lot to take in and simply searching “insurance commercial building” isn’t going to give you the exact answers that you need.

We speak with commercial property owners and business operators everyday so we understand the risk of getting things wrong. We also understand the important of what your assets mean to you.

Answers To Your Insurance For Commercial Building Questions

Do you insure vacant commerical properties?

We can put commercial property insurance in place for vacant properties, we just need to provide some further information to the insurers and we may be a little more restricted on how many insurers are willing to provide a quote.


Vacant commercial property insurance can be a little harder to obtain that your regular commercial buildings insurance. 


As a result of vacant property’s increased risks, premiums and/or excesses are generally increased.


In addition, it is important for property owners to inform their broker/insurer if there is a change in tenants.


Tattoo parlours, for example, are notoriously difficult to insure due to the moral risk / associations with bikie gangs, even if the tenant does not belong to a bikie gang.

How much does commercial property insurance cost?

The cost of commercial property insurance will vary depending on a number of factors, including the value of your property, the location of your business and the type of coverage you need. You may be able to save some money by bundling your commercial property insurance with other types of business insurance, such as liability insurance. Contact Priority today to discuss the needs for your business and we’ll let you know how we can help.

Why are all sections optional for commercial building insurance?

The reason why commercial property insurance policies have a number of optional sections is because they are written under a business package policy.


What this means is that every section can be either added or not depending on what cover you need.


For example, some commercial property owners require their tenant to be responsible for glass cover so don’t typically need to to include this.


Another common example is if you’re a landlord, you generally don’t need theft cover unless you provided the property furnished.


This gives property owners and occupiers the flexibility of tailoring their insurance and only paying for what they need.

What information do I need to supply to take out a commercial building insurance policy?

The insurers need to get a good understanding of the property so that they know what they are insuring and what risks are present. 


Some of the information that insurers will ask for is:

  • Address and age of the property
  • The construction details of the property for example, brick walls and steel roof 
  • Who or what business is occupying the property
  • What security and fire protection is at the premises 
  • Are there any hazardous materials being stored at the property 
  • What is the total value being insured 

Some insurers may request further information depending on the answers to the above questions.

How much do I need to insure my commercial property for?

The truth is, a lot of commercial property owners ask the same question. 


The property should be insured for a replacement value. This means a value to rebuild the property on a new for old basis. 


Not insuring for what you purchased it for. 


When you take out a commercial buildings insurance policy there is an under-insurance clause that can reduce your claim settlement by the same amount if you don’t insure for replacement value. 


Speak to your Broker about how to establish a fair value. We have tools and calculators that we can use to guide you through the process. 

Why do I need Public Liability Insurance as a commercial property owner?

Your Public Liability insurance as a property owner is different to your standard liability policy. 


A standard liability insurance covers the business activities that you are engaging in. A property owners liability will only cover your liability as the owner of a property. 


This means that if an injury occurred due to your negligence as a property owner then you are covered. 


For example, if you didn’t repair some internal stairs and a customer fell through them causing injury, this would be covered under your liability as a property owner.


In some cases, if you also operate a business you can simply add “property owner” to your business activities and your current policy will extend to cover this as well. 


As long as the entities are the same or have a common interest or Directorship and subject to the insurers acceptance, this is done quite regularly.

Why does my tenants occupation affect the premium I pay?

The tenants occupation will always be asked by an insurer when you are putting a commercial property insurance policy in place. 


This is required so that the insurer understands the risk that they are taking on when insuring your property. 


For example, a simple Accountants office will be priced far cheaper than a property that uses welding equipment or stores hazardous chemicals. 


This is because the risk of damage being caused to the commercial property increases and when ever the risk increases usually the premium does as well.

What if my commercial property is Strata titled?

If your commercial property is part of a Strata or Community Title Scheme you need to take out a Strata policy. 


Although the cover is similar, there are a number of additional covers required for a strata title property.


Strata titled property are often regulated and governed in most states so it needs to be done correctly. 


We can also assist you with commercial strata insurance.

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