Coverage for the property your business depends on.
The building, equipment, stock and contents that keep the operation running, subject to the policy terms and causes of loss insured.
Want to talk now?905-573-7471
Proudly Canadian
Quotes Made
SimpleCompare Canadian Insurers
Real Broker Advice
Claims Support
WHAT IT DOES
Commercial Property covers the physical side of the business.
Most commercial programs have two halves — what you could owe someone else, and what you could lose yourself. Commercial Property is the second half.
01
Fire damages your premises or equipment
02
Water damage affects stock or contents
03
Theft results in the loss of insured business property
04
A covered event forces repair or replacement of physical assets
A Commercial Property policy may respond in each case, subject to the policy wording, limits, exclusions and conditions.
WHAT IT MAY COVER
Common areas of coverage.
Building
The structure itself, where you own it — and, where the policy includes it, permanent fixtures and building services.
Equipment and Contents
Machinery, tools, furniture and the working contents of the premises, valued as the policy specifies.
Stock and Inventory
Goods held for sale or in production, including seasonal swings if the limit is set to reflect them.
Tenant Improvements
Fit-out and betterments you paid for in leased premises, which a landlord’s policy generally will not cover.
Signage and Exterior Property
Exterior signs, and other outdoor property where the policy extends to it.
Property Off Premises
Business property temporarily away from the premises or in transit, where applicable and within the stated limit.
What is insured, and on what valuation basis, varies by policy. A broker can confirm a specific wording before you bind.
WHAT IT DOESN’T REPLACE
Property cover is about your assets, not everything else that can go wrong.
A property policy answers for physical damage to insured property. Closely related risks are usually written separately, and gaps are easy to miss.
Claims by third parties for injury or damage your operations allegedly caused.
Business Interruption
The income lost and the expenses that continue while the premises are out of action.
Equipment Breakdown
Mechanical and electrical failure from within the equipment itself, rather than an external insured peril.
Data loss, ransomware and the response costs that follow a cyber event.
Vehicles owned, leased or used by the business.
Flood, Earthquake and Sewer Backup
Perils that many wordings treat separately, add by endorsement, or sublimit.
General distinctions only, not a statement of what a particular policy does. A broker can review the wording with you.
WHO COMMONLY NEEDS IT
The operations that most often carry a property policy.
Commercial Property sits under most commercial programs. These are the HIFA industry pages where it comes up most often.
NOT SURE WHERE YOU FIT?
A broker can look at the values, not just the building.
Tell us what you own, what you lease and what you hold in stock. A commercial broker can review the limits and the wording with you before you approach the market.
Want to talk now?
REAL CLAIM EXAMPLES
Two situations worth thinking through in advance.
Fire Damage
A fire in a rear storage area damages equipment and a significant amount of contents before it is brought under control.
A Commercial Property policy may respond to covered physical damage to insured property, subject to the limits, exclusions and conditions in the policy. How much is payable depends on the valuation basis.
Water Damage
A pipe fails overnight and water reaches stock on the floor and the tenant improvements in a leased unit.
A policy may respond to certain water-damage losses. Whether it does depends on the cause of the water, what the wording excludes, and whether tenant improvements were insured under your policy or the landlord’s.
Illustrative example
Illustrative only. These are not statements of coverage. Every claim is assessed on its own facts against the policy in force.
WHAT AFFECTS THE PRICE
Two businesses in the same building can price very differently.
THE PROPERTY
Building construction and materials
Age of the premises and its services
Occupancy and what happens on site
Fire protection and alarm systems
Location and surrounding exposures
THE NUMBERS
Building replacement value
Equipment and contents values
Stock values and seasonal peaks
Requested limits
Deductible and claims history
A broker can tell you which of these is driving your number, and whether your values still reflect today’s rebuild cost.
WHAT WE’LL ASK YOU
The questions that change the policy.
01
What property do you own, and what do you lease?
02
What are the replacement values of the building, equipment and contents?
03
What stock or inventory values fluctuate through the year?
04
What fire protection and security systems are in place?
05
Are there tenant improvements that should be insured under your policy?
06
What prior property losses have there been?
Common questions
What owners ask about commercial property.
My landlord has insurance. Do I still need property coverage?
What is Business Interruption insurance?
Are my tools covered when I take them off-site?
What is Replacement Cost vs. Actual Cash Value?
Does property insurance cover my data?
Does my property policy cover water damage and flooding?
READY TO TALK?
Let’s make sure the values match what you would actually have to replace.
Tell us what you own, where it sits and what it holds. A commercial broker can review the risk before approaching insurers.
Want to talk now?