Best Commercial Building Insurance for Your Property in Melbourne
A commercial building is a huge investment that needs continuous insurance coverage. Without the right insurance cover, it is vulnerable to all kinds of damage that may affect its value as well as condition. Commercial building insurance protects your property in multiple ways. It covers any loss caused to your business premises from any mishap and damage caused by theft or vandalism.
CP Insurance Services is a leading provider of commercial property insurance plans based in the Melbourne. Our team provides expert advice and insights to get a structured insurance policy coverage for your business premises at competitive premiums.
We also work with all the top insurance providers in Australia and have access to hundreds of insurance products, plans and policies. This, coupled with our years of experience allows our insurance brokers to find tailor-made insurance products and packages for you.
How Does Commercial Property Building Insurance Protect You?
Business building insurance provides protection against any unforeseen events that can cause a major loss or damage to your commercial property or its contents. Such insurance covers are a legal and compliance requirement for various businesses engaged in the production or storage of potentially hazardous products or equipment.
You can take a commercial property building insurance policy to cover all types of non-residential buildings, such as:
Offices
Factories
Warehouse
Retail stores
Wholesale stores
Types of Commercial Property Insurance
Commercial property insurance can be taken as a package or as a stand-alone policy. You should always ensure that the nature of your business and property type is discussed with the insurance broker before taking a policy. Insurance for commercial properties can be differentiated based on coverage and the various accidents they provide protection against.
The business building insurance protects your commercial property against:
Explosion
Fire
Storm
Theft
Vandalism
Accidental Damage
You can also take additional coverage for:
Earthquake
Flood
Equipment breakdown
Direct causes for business loss
Furthermore, you should always check and compare the different policies, commercial property insurance costs and plans of various insurance companies that cover:
Property damage
Owner’s liability
Equipment damage
Asset damage
Title insurance
If you are a landlord who has let out a commercial building to another business, landlord insurance that protects your building against any damage is perfect for your needs.
Benefits of Commercial Property Insurance
The benefits of business premises insurance cannot be overstated. As a business or commercial property owner, you realise the true value of commercial property insurance only when your building or enterprise faces an unforeseen event or mishap. The resources of any business, whether large or small, can be severely strained by replacement or rebuilding costs or both. Add to that the cost of replacing expensive equipment, ready-to-ship stock, injury to workmen and other public liabilities arising out of the mishap, and the total expenses can be crippling.
However, with business building insurance, you need not stress about the repair or replacement costs. Instead, you receive:
Financial aid: Commercial property insurance ensures that you get financial aid for the cost of rebuilding, repairing or replacing the building. You can also claim the cost of rebuilding at the same or a different site – in case of irreparable building damage. Such policies also cover the cost of replacing lost stock and equipment.
Peace of mind: A business building insurance offers the building or business owner complete peace of mind and a sense of security. This comes from the knowledge that in case of any interruption in business processes due to an unforeseen event, financial aid will be provided to overcome the disruption or loss. This helps businesses focus on strategies to restore and resume normal operations.
Business recovery: Both big and small businesses can come under severe financial stress due to unforeseen or unexpected events that affect the building from where it operates. The financial setback can cause serious problems like cash flow interruption, the need to take high-interest emergency loans or can cause the business to go down. With commercial property insurance, the business can get paid for rebuilding the structure, restoring the inventory and paying for loss of working hours or downtime i.e. business interruption.
Comprehensive package policy: Depending on your requirements, the nature of your business and the various risks, you can take a comprehensive package policy. The cost of a business premises insurance package policy is usually higher than a standalone policy. However, it provides all-around coverage to businesses and is more cost-effective in the long run.
Why CP Insurance Services?
CP Insurance Services is a trusted insurance brokerage company in the Melbourne. We provide expert advice on various commercial insurance plans that suit your business the best. As a reputed insurance broker for many clients across Melbourne, we have access to hundreds of insurance policies, including broker-only products.
With us, you get various benefits, such as:
Top insurance companies
Knowledgeable insurance brokers
Unbiased advice
No overpromising or false information
Tailor-made packages
Claims lodgement
Quick turnaround time
Dedicated point of contact
Are you ready to discuss the best commercial insurance for your business? You can call us on 1300 884 698 for queries or to book an appointment with one of our top insurance consultants. You can also contact us by filling out our online contact form on our website.
FAQs
Commercial property insurance covers any damage or loss to a commercial building due to threat, vandalism, storm, fire, flood etc. It can cover both the building and the content therein depending on the type of policy that you take and the insurance provider. You can also purchase a business interruption insurance policy or business insurance pack to safeguard your business against any loss caused by a variety of factors. The policy usually covers loss to a commercial property or glass, inventory, product and public liability amongst other things.
The premium of the insurance is dependent on various factors, such as:
- The type of business
- Location of the building or premises
- Commercial property age
- The size or turnover of the business
- Threats covered in the policy
- Sum insured
- Claim frequency
- Security measures
The commercial property insurance cost also depends on whether it is a stand-alone policy or part of a business insurance package.
Commercial property insurance is tied to the location of the building. If you run your business from multiple premises, you should list ALL of them when taking a policy. In case of any changes, the same must be updated with the insurers immediately. You cannot use a P.O. Box number for the purpose of the policy. Check with your insurance agent or broker for more details.
Business premises insurance covers all kinds of non-residential properties. These include but are not limited to:
- Offices
- Factories
- Warehouses
- Retail and wholesale stores
- Vacant commercial buildings
Why Choose Us
We are an award winning company
01
Savings Potential
We will work with you to locate and deliver the most competitive balance between coverage and premium for your business.
02
Superior Protection
We work only with Australian Authorised Insurers, ensuring that we provide the most comprehensive coverage available.
03
Structured Coverage
From start-up business through to multi-national corporations, we will structure policy coverage to suit which ever sized business you have.
04
Piece of Mind
Get back to operating your business, knowing all your policies are conveniently managed by our office.
1300 884 698
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