
Commercial Property Insurance


What is Commercial Property Insurance?
Commercial property insurance helps protect owners from financial loss caused by damage, theft, or liability events involving their assets, which includes office, retail, or industrial properties.
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Properties can be insured individually through standalone policies, or grouped under a consolidated insurance program, tailored to the specific needs of a larger portfolio. This flexible approach allows for more efficient and robust coverage across the portfolio.
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We work closely with property owners, fund managers, and commercial property managers to assess your insurance needs and deliver market leading insurance protection for your investments.
What's covered in a Commercial Property policy?
A commercial property can include office, retail or industrial assets. While each property type may have slightly different insurance needs, the core coverage typically remains the same, with Building, Rental Income, and Public Liability insurance considered essential pillars of protection.
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The type of policy required often depends on the size and value of the property.
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For properties valued under $5 million (including building and rental income), a Business Package policy is usually suitable. For properties exceeding this value, an Industrial Special Risk (ISR) policy is recommended, offering broader and more comprehensive coverage.​
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Below is a summary of the key insurance coverages commonly included in both Business Package and ISR policies.

Building Replacement
Covers the cost to rebuild the property, includes elements such as demolition, and debris removal.
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Legal / Public Liability
Covers legal costs for third-party injury or property damage you're liable for e.g. third party slip or fall.
Claims Preparation Costs
Pays for expert help to prepare and manage claims, helping you to unlock the full potential of your policy.
Theft
Covers stolen items due to forced entry, may not apply if contents are tenant owned.
Contents
Protects loose items like furniture and electronics owned by the property owner, not the tenants.
Business Interuption
Covers rental income and outgoings during the rebuild period. Recommended for a minimum of 24 months, depending on property size.
Machinery Breakdown
Covers damage to mechanical systems like lifts or chillers, excluding damage from wear and tear or poor maintenance.
Loss of rent
Ensures rental income continues while the property is uninhabitable due to damage caused by an insured event.
Extra Cost of Reinstatement
Covers upgrades required by councils or authorities to meet current building standards after a loss.
Glass Replacement
Covers broken glass items like windows or displays. Often required to be covered by tenant’s policy, which can be confirmed on the lease agreement
Commercial property insurance isn’t just about protecting bricks and mortar, it’s about protecting your investment - your future. We'll ensure that your risks are transferred to the insurance and that your policy responds when you need it most.
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What insurance coverage is essential for commercial property owners?The core components of a commercial property insurance policy include: Building: Covers structural elements like walls, roof, floors, and permanently fixed items, including demolition and debris removal. Loss of Rental Income: Protects your income if the property becomes uninhabitable due to an insured event, including statutory outgoings. Public Liability: Covers legal costs for third-party injury or property damage you're liable for.
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What optional insurance coverage should I consider?A broker can help identify additional cover based on your property’s needs, such as: Glass Breakage: Internal and external glass; often the tenant’s responsibility, depending on the lease. Machinery Breakdown: For lifts, plant equipment, or central A/C units. Contents: Covers items you’ve supplied, like furniture, appliances, or temporary fit-outs.
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How do I know if my building is adequately insured?The best way is through an insurance replacement valuation by a qualified valuer, recommended every 3 years. Unlike a sales valuation, it includes demolition, debris removal, design, and rebuild costs—excluding land value.
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Am I covered for tenant caused damage?Accidental damage is covered and most policies include malicious damage by tenants, but the latter may need to be added as an optional benefit, depending on the policy.
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Do I still need insurance if the tenant has their own policy?Yes. Tenants cover their own contents and business activities, but you must insure the building and public liability as the property owner.
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What if my property is vacant, will this impact my insurance?Yes. Vacant properties carry higher risk. Most insurers require notification if a property is vacant for more than 60 to 90 days. Extended vacancies may need a specific vacant property policy.
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Why is vacancy a concern for insurers?Vacant properties are more vulnerable to: Vandalism or arson Theft of fixtures or materials Undetected damage (e.g. leaks or fires) Trespassing or illegal activity
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Can I insure multiple properties under one policy?Yes. Many insurers offer portfolio policies. For combined asset values over $10 million, an Industrial Special Risks (ISR) policy is ideal for broader coverage.
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Does tenant activity affect my insurance?Yes. Insurers assess risk based on tenant business type. Office tenants are low-risk, while activities like manufacturing, recycling, or hospitality may require specialist cover. Always check with your broker.
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What is Strata Property Insurance?Strata insurance provides insurance cover for the building and common property areas of a strata-titled building, such as apartments, townhouses, commercial offices and even industrial type property.
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Is strata insurance mandatory in Australia?Yes, it is mandatory under Australian law for buildings registered under a strata title. The Strata Titles Act for each state will define what is required to be included under a strata insurance policy, generally the building and public liability insurance must be covered at a minimum.
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How do I know if my building is adequately insured?The only way to ensure your building is adequately insured is by carrying out an insurance replacement valuation through a qualified valuer. We strongly recommend an insurance replacement valuation is carried out at least once every 3 years. An insurance replacement valuation differs to a sales valuation as it includes items such as demolition costs, removal of debris, planning/design and rebuild costs, following a total or major loss e.g. fire – it does not include items such as land or sales value.
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Who pays for strata insurance?The cost is shared among all lot owners in the strata scheme. Payments are collected as part of regular strata levies set by the strata company
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What does strata insurance typically cover?Strata insurance basics include: The building’s structure e.g. walls, windows, roof, and ceilings, plus permanent fixtures such as vanities, cupboards and cabinetry. Shared contents e.g. furniture in common rooms, gym equipment, carpets and rugs. Public liability: the strata policy responds if someone is injured or their property is damaged on common property and the strata company is found liable. Loss of Rent/Temporary Accommodation: covers the cost alternative accommodation for owner-occupiers who must vacate the property due to damage from an insured event. It also covers any lost rent for landlords (non-owner-occupiers) if their tenant must vacate.
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What is not covered by strata insurance?Strata insurance does not cover personal belongings inside individual units, such as personal furniture, electronics, or clothing. It also excludes maintenance-related issues e.g. damage caused by age, wear and tear of items and any personal liability risks for owners or tenants within their own units.
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Can I get my own insurance as an owner?Yes, owners are encouraged to take out contents insurance for personal items and landlord insurance if they are renting out the unit. These policies fill in the coverage gaps left by strata insurance.
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Is flood cover the same as water damage or storm damage cover?No, flood cover and water damage insurance cover are not the same. They refer to different types of water-related events and have distinct definitions and coverage terms. Flood is an additional cover from most insurers and is defined as the release or escape of water onto normally dry land that has released from the following: - A river or creek - A natural watercourse - A dam or reservoir Water damage claims are typically related to events such as burst pipes (most common) or failure of a flexi hose. Storm damage events can be related to heavy rain or strong winds that have caused damage to the building. Water and storm damage events are automatically included under the building section of the strata policy.
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Why should I use an insurance broker for my Strata Insurance?Working with an insurance broker offers several key advantages: They work for you, not the insurer. Brokers act in your best interest, helping you find the most suitable coverage. Expert advice and tailored solutions. Brokers are qualified to compare policies, assess your risk exposures, and recommend coverage that fits your specific needs. Access to more options. Brokers can offer a wider range of insurers and policy choices than you might find on your own. Claims support and advocacy. If you need to make a claim, brokers provide expert guidance and help resolve disputes on your behalf. Competitive pricing. Using a broker doesn’t increase your policy cost. In fact, brokers often negotiate better pricing with insurers.