Owning commercial property creates different insurance exposures from occupying premises as a tenant.

The appropriate insurance depends on the building, occupancy and lease arrangements.

Building Insurance #

Commercial Property Insurance can cover certain physical loss or damage to the building caused by insured events.

This can include property such as:

• The building structure.
• Landlord fixtures.
• Certain improvements.
• Other insured property.

Loss of Rent #

If insured damage makes a property unusable, the landlord may lose rental income while repairs are completed.

Commercial property insurance can include Loss of Rent or Business Interruption cover for specified insured events.

Public Liability Insurance #

Property owners can face liability claims involving incidents such as:

• Slips and falls.
• Building defects causing injury.
• Falling objects.
• Damage to another person’s property.

Public Liability Insurance can address certain legal liabilities arising from ownership of the property.

What other insurance may be relevant? #

Depending on the property, cover can include:

• Machinery Breakdown Insurance.
• Glass.
• Environmental Liability Insurance.
• Flood.
• Landlord contents.
• Equipment.
• Legal Expenses Insurance.

The insurance program should also reflect responsibilities contained in the lease.