Commercial Property Insurance

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Commercial Property Insurance

Any kind of business you own no matter its size, you need property & liability insurance to protect your business assets and the income derived from the operations. Commercial property insurance policy covers buildings, stock, furniture & fixtures, leasehold improvement, tools, equipment, computers, software, money, loss of income, liability etc.

If you own a commercial building or lease space for your business, you need commercial insurance, which protects against damage caused by fire, theft, windstorm, hail, vandalism and many more perils.

At Bow Valley Insurance, our experienced brokers can help you protect your commercial property. Get in touch to learn more about the options available to you and protect what you’ve worked hard to build.

What is commercial property insurance?

Commercial property insurance is essential for all businesses. From office buildings to general equipment, income, customer data, and other essentials, commercial property insurance protects your buildings, inventory, equipment, and other contents from the financial impact of accidents, disasters, and property crime.

With the right insurance, you can protect your commercial property — and recover as soon as possible when these unfortunate events occur.

Commercial Property Insurance: Coverage Options

At Bow Valley Insurance, our brokers know that every business is different — that means each growing enterprise uses its own set of tools and business assets to deliver products and services. Our knowledgeable brokers can find the coverage that fits your business.

Commercial property insurance coverage options depend on the industry, location, and routine exposure to risks that impact business continuity.

Choose between all-risk and named perils commercial property insurance:

  • Named perils: your commercial property is protected for named perils listed explicitly in the policy by name.
  • All-risk: protects your commercial property against everything except for what is specifically excluded.

Coverage options can be added for certain exclusion — talk to our brokers to learn more.

Standard Coverage

  • Infrastructure: office buildings and other facilities, contents and supplies, product stocks, and store assets such as signs and furniture.
  • Equipment: avoid prolonged business interruption with coverage for equipment breakdown, including high-risk items such as boilers and machinery.
  • Loss of income: secure your bottom line from loss of income due, due to accidents that force you to close the business for extended periods known as business interruption, and recover with compensation for lost income and ongoing fixed expenses.
  • Employee dishonesty: avoid loss for dishonest and fraudulent employee activities, and access the necessary resources to restore your reputation.
  • Data and cyber liability: protect proprietary business information and financial assets, promote customer privacy, and restore customer trust in your brand in the event of a breach or data security threat.
  • Property crime: recover from losses caused by crimes such as vandalism and theft.
  • General liability: ensure comprehensive liability protection in case of accidents and disasters that lead to employee and third-party injury, as well as property damage.

Enhanced Coverage

Add custom extensions to your commercial property insurance:

  • Flood and earthquake damage: classified as extreme acts of nature, flood and earthquake damage require extensive resources to repair. These disasters are often a catalyst or cause of other natural events such as landslides & avalanches. For businesses operating in areas at high-risk of these events, consider the additional protection of coverage for flood and earthquake.
  • Sewer back-up: a backed-up or overflown sewer, sump, septic tank, or drain can easily damage equipment, business stocks, and even entire structures — essentially rendering any establishment inoperable. Recover from the devastating loss with this valuable extension.
  • Temporary Location: with the growth of business comes increased mobility to reach new markets, resulting in temporary move of place of business, as well as regularly moving equipment. Protect property not stored at a fixed location, as well as equipment in transit to project sites, no matter the distance within Canada.
  • Extended Business Interruption: if your key supplier or primary client has a property claim that interrupts your product stream. This depends on the situation and underwriting risk.

Ask Our Brokers

Bow Valley Insurance offers selection of commercial property policies and coverage options from leading insurance companies.

Our insurance brokers work to aggregate leading policy options and present them to you, with your business’s needs and status at heart.

  • Tell us about your business: our insurance brokers recommend commercial insurance policies depending on the nature of your business and the assets you use, such as an office building or facility, equipment, money, data, and the vulnerabilities you’re exposed to.
  • Compare quotes: discover insurance options from leading providers through comprehensive quotes from several insurance companies our brokers deliver to you. See our competitive rate comparison and work with our brokers to tailor coverage options according to your operations and growth objectives.
  • Do better business: with the right financial protection in place, your commercial property is protected from risks and events that can change the course of business. File claims with ease through our expert claims assistance service and recover from any insured losses.

How much does commercial property insurance cost?

Multiple factors are taken into consideration to assess what your commercial property insurance will cost, including:

  • Building construction and age: the age of the building considered as older buildings can be more susceptible to certain types of damage, such as old electrical wiring, plumbing, roof, furnaces or boilers can increase insurance costs.
  • Previous Claims: number and type of prior claims is one of the major rating factors.
  • Renovations to buildings: whereas age and other factors can increase your insurance costs, any renovations to the roof, electrical, plumbing and/or HVAC systems can reduce insurance rates.
  • Location: your property’s location allows your insurance provider to determine any environmental risks that your business may face, which can impact your rates. Environmental risks include flooding. Locations in high crime areas can also affect the premium.
  • Replacement cost of buildings and equipment: any machinery or equipment within the building(s) and its replacement value must be accounted for, as industrial equipment, for example, can be costly to repair or replace.

Contact Bow Valley Insurance Today

With Bow Valley Insurance, our team of professional brokers works with you to ensure that your commercial property is equipped with adequate insurance to protect your business property, the contents within and any assets outside.

Whether you are a small business or multinational enterprise, all businesses must have commercial property insurance. Contact Bow Valley Insurance at 1-800-332-1308 or contact us here for a free, no-obligation quote with one of our knowledgeable, experienced insurance broker. Discover what we can do for your business.

Coverage is subject to policy wording, terms, conditions, and deductibles. Protection is limited to the perils, coverage, exclusions, and limits shown on the policy.