Commercial Property Insurance

Who needs Commercial Property Insurance?

If you own a building, lease a commercial space, or operate from a fixed location, you need commercial property insurance. Coverage is typically required by landlords, lenders, and most B2B contracts. We insure:

• Building Owners (single-tenant or multi-tenant)
• Commercial Tenants insuring leasehold improvements
• Mixed-Use Property Owners (residential + commercial)
• Manufacturing & Warehousing Operations
• Office, Retail, and Professional Services Tenants
• Owners of Vacant or Under-Renovation Properties

How much does Commercial Property Insurance Cost?

Commercial property premiums depend on the building, what's inside, and how risky the location is from a fire and water perspective. The factors that move the cost most:

• Building Location & Postal Code
• Construction Type (frame, masonry, fire-resistive)
• Total Insured Value of Building & Contents
• Roof Age, Plumbing, Wiring, and HVAC Condition
• Sprinklers, Alarms, and Fire Protection Systems
• Type of Business Operating Inside

What does Commercial Property Insurance cover?

A commercial property policy protects your physical assets and the income you'd lose if you had to close. Most policies include:

• Building Coverage (structure & permanent fixtures)
• Contents & Stock Coverage
• Business Interruption Coverage
• Equipment Breakdown Coverage
• Sewer Backup & Overland Water Coverage
• Vandalism, Theft & Break-In Coverage

This is an overview. All coverages, limits, and exclusions can only be confirmed by a licensed MyBrokers broker on a quote tailored to your specific policy.

What's the difference between All-Risk and Named-Peril coverage?

Commercial property is written on one of two bases. All-Risk (or 'open-perils') covers any loss unless it's specifically excluded — broader coverage, higher premium. Named-Peril only covers losses from the specific perils listed on the policy: fire, theft, vandalism, water damage, and so on. Which basis applies usually depends on building age, condition, and what your lender or landlord requires.

• All-Risk: broader coverage, includes anything not specifically excluded
• Named-Peril: covers only the perils listed on the policy
• Most newer commercial buildings are eligible for All-Risk
• Lender and mortgage agreements often dictate the basis
• Older buildings and vacant properties sometimes only qualify for Named-Peril

This is an overview. All coverages, limits, and exclusions can only be confirmed by a licensed MyBrokers broker on a quote tailored to your specific policy.

What's the difference between Replacement Cost and Actual Cash Value coverage?

Replacement Cost pays to rebuild or replace your property at today's prices, with no depreciation taken off. Actual Cash Value pays the depreciated value of the asset at the time of loss. Most newer commercial buildings are written on a Replacement Cost basis. Actual Cash Value is more common on older buildings, vacant properties, and policies where the building isn't insured to its full value.

• Replacement Cost: pays full rebuild value with no depreciation
• Actual Cash Value: pays depreciated value at the time of loss
• Replacement Cost typically requires insuring the building to 80% or 100% of its replacement value
• Actual Cash Value is more common on older or vacant buildings
• We'll quote both and explain the difference for your specific building

This is an overview. All coverages, limits, and exclusions can only be confirmed by a licensed MyBrokers broker on a quote tailored to your specific policy.