Commercial Property Insurance
Safeguard your buildings, equipment, and business assets from unexpected loss.
Commercial property insurance can protect the physical side of your business: your building, if you own it, and the equipment, inventory, and other contents inside it. It pays to repair or replace them after sudden damage like a fire, storm, burst pipe, theft, or vandalism.
As a business owner, you have put real time and money into building your company. A fire, storm, theft, or act of vandalism can damage your property and set you back. Commercial property insurance covers your building and the things your business keeps inside it, so a bad day does not turn into a permanent setback and you can stay focused on growth.
Who Should Consider Commercial Property Insurance?
Whether you work from a home office or run several locations, commercial property insurance protects the physical things your business depends on.
- Business owners who own or lease commercial space
- Companies with valuable equipment, furniture, or inventory
- Businesses with outdoor signs, fencing, or landscaping
- Organizations that keep important records or data on site
- Retailers and wholesalers with a lot of product on hand
What can be covered?
Buildings & Structures
Your building, whether you own or lease it, including the permanent fixtures attached to it.
Business Contents
The furniture, equipment, supplies, and inventory you keep inside your space.
Outdoor Property
Signs, fences, landscaping, and other items on your property that are not attached to the building.
Records & Documents
Your important business records, valued documents, and books, including records of money owed to you.
Electronic Equipment
The computers, technology, and other equipment your business runs on.
Property in Transit
An optional add-on that covers your property and materials while they are being moved between locations.
Coverages shown are general examples, not a description of any specific policy. Policy coverages widely vary and should be confirmed with your broker.
Insure to the Right Value
How much your policy pays after a loss comes down to two things: insuring to an adequate value, and how each part of your policy is valued at claim time. Most commercial policies carry a co-insurance clause, so if you insure your building or contents for much less than it would cost to rebuild or replace, the payout on even a small claim can be reduced by the same proportion. How a claim itself is valued varies from policy to policy and from item to item, so we go through your wording with you and confirm how each part would be settled, and you are not caught short after a loss.
How Pricing Works
What drives your premium
- What it would cost to rebuild and restockThe insured value of your building, equipment, furniture, and inventory is the foundation of the price. Insuring for too little does not just save money, it can cut your payout after a loss through co-insurance, so the value has to be right.
- How the building is built and how old it isMaterials, roof age, wiring, plumbing, and heating all matter. A newer masonry building with updated systems prices better than an older wood-frame one with original wiring.
- What goes on inside itA cold-storage warehouse, a restaurant kitchen, and a professional office in the same building carry very different fire and water risk, and the riskiest use in the building affects everyone in it.
- Fire protection and securitySprinklers, alarms monitored off site, how close you are to a fire hall and a hydrant, plus locks, lighting, and cameras, all pull the price down.
- Location and local hazardsIn Alberta this usually means hail, wildfire exposure, overland water and sewer backup, and neighbourhood crime rates. Where the building sits can move the premium more than what is in it.
- How your policy is valued, and your deductibleHow each part of your policy is valued at claim time affects the premium, and we set that with you when we build the coverage. A higher deductible lowers your premium but raises your share of every loss.
- Claims historyPrior water, fire, or theft losses at the location raise the price, and a run of small claims can cost you more than one large one.
Frequently asked questions.
What does commercial property insurance cover?
It covers your business's physical property against sudden, accidental damage: the building you own or lease, the contents inside like equipment, furniture, and inventory, and often outdoor items such as signs and fencing. Common causes it covers include fire, smoke, windstorm, hail, sudden water damage like a burst pipe, theft, and vandalism. You can cover a single location or many.
Do I need it if I lease my space instead of owning?
Yes. Your landlord's policy covers the building structure, not your contents or the upgrades you have made to the space. If you lease, you still need to cover your equipment, inventory, furniture, and any improvements, and your lease usually requires it. We will match the policy to what you actually own inside the space.
How will a claim on my building or contents be valued?
It depends on how your policy is written, and it can differ between your building and your contents. Because how a claim is valued varies and directly affects what you receive after a loss, we go through your wording with you and confirm exactly how each part of your policy would be settled, so there are no surprises when you claim.
Does commercial property insurance cover flood or earthquake?
Not automatically. A standard policy covers many water and weather events but usually leaves out flooding from outside (heavy rain, rivers, or overland water) and earthquakes, which you add on. In Alberta, it is worth talking about outside-water and sewer-backup coverage given the local flood risk. Tell us your location and we will point out which add-ons make sense.
How is my price calculated?
Your price is based on the value of your building and contents, how it is built, its location and how it is used, fire protection and security, and your claims history. Insuring for the right rebuild value matters: if you insure your property for much less than it would actually cost to rebuild, most policies reduce your payout by the same proportion. We will help you value the property correctly so you are neither underinsured nor overpaying.
Does property insurance cover lost income or equipment failure?
No, and these are common gaps. Property insurance pays to repair or replace physical damage, but it does not replace the income you lose while you are closed (that is business interruption coverage) and it does not cover your equipment failing from an internal breakdown (that is equipment breakdown coverage). We usually add these alongside your property policy so a loss does not leave you short.
Protect Your Business Property Today
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