Commercial Property Insurance

Insuring your assets is a major part of owning a commercial property.  At Insurance Rate Monitors (IRM), we have access to market leading products from Australian authorised insurers and together with our experience make it easy for you to arrange your Commercial Property Insurance.  Whether you own a small 50sqm retail shop or a large multi-tenanted shopping centre – we will search the market to find you a better rate on your commercial property insurance.

At IRM, we help tailor a custom Commercial Property Insurance Policy to suit your needs.

The replacement value or building sum insured, occupation of your tenant, location, fire protection and security of your building play a major role in the overall risk rating of your property which is used to calculate your annual insurance premium.  For example, a small accounting office will have a lower risk rating compared to a larger suburban supermarket or service station.

If you need assistance with reviewing your existing building sum insured or you have purchased a property and need help determining a replacement value then give us a call.  As a member of the Steadfast Group, we have access to insurance valuation services and various construction cost calculators and tables.

Standard commercial property insurance policies are made up of the following sections.

1. Property
2. Business Interruption
3. Glass
4. Public Liability
5. Machinery Breakdown

Property Section – also known as your Fire Section, includes items such as your Buildings, Property Owners Contents and Removal of Debris.  Some standard listed events which you are covered for are as follows:

Fire, impact, storm, water, lightning and accidental damage.  In many locations, flood cover is also available.

Business Interruption – also known as your Loss or Rent section, includes items such as your Rental (standard covers up to twenty-four (24) months) and Professional Fees.  Should your tenant not be able to occupy your premises due to a claim under the Property Section, then we will arrange for the payment of your loss of rent for this time up twenty-four (24) months.

Glass – covers you for the replacement of Internal and/or External Glass at your property.  In many cases your tenant may insure this section under their own Business Insurance policy.

Public Liability – with limits of $ 5,000,000 to $ 30,000,000 available for Commercial Property owners.  Where you are negligent and legally liable as a result of your ownership of a commercial property.  Helping to protect you against incidents such as slip and falls or trip hazards.

Machinery Breakdown – for Breakdown, burning-out or Fusion to motors, pumps and compressors such as Air-conditioning units, refrigerators and cool rooms.  You can select limits from $ 5,000 to the total asset value of your commercial property.

Contact us today to find out how we can help you find a better rate!