Protect your Investment
Commercial Property Owners Insurance is a solution tailored for the unique requirements of commercial property landlords. It is designed to provide customised cover for property, loss of income, theft, money and rent default, glass, tax audit, OH&S and legal costs, and machinery / electronic equipment breakdown liability. It also provides cover for a range of different property types including warehouses, shopping centres, factories and unit and apartment blocks.
Different solutions can be tailored to best meet your specific risks depending on the type of commercial property you have and how it’s used and managed.
Commercial Strata Insurance
Commercial Strata Insurance is specifically designed for commercial buildings under a strata scheme, ranging from retail shops and offices through to multi tenanted industrial sites.
Our team of experienced insurance professionals take the time to listen to what’s important to you and talk to you about your commercial property insurance options. Things to take into account are the construction, age, condition, fire protection, security, maintenance and occupancy of the individual units. As the occupation of the lots or units can vary considerably, the risk will vary according to the type of business conducted in the buildings. The overall mix of occupants will usually determine the premium, policy terms and conditions.
Commercial Strata Insurance can include:
- Building Replacement and Reinstatement – Provides cover for the buildings, roadways, fencing, fixtures, fittings and any other improvements of a structural nature in Common Property areas.
- Legal Liability – Covers the legal liability of the Body Corporate. This does not include cover for liability of the unit owner, except where liability relates to the Insured property or common contents.
- Common Contents – Covers Furniture, Equipment, Appliances, Fittings and Works of Art (separate declaration may be required) in common areas.
- Machinery Breakdown – Provides cover for damage to machinery caused by electrical or mechanical breakdown. This is an optional cover and extra premium will apply.
- Loss of Rent and/or Alternative Accommodation – If a unit becomes uninhabitable as a result of a claimable event, the unit owner can claim loss of rent to either maintain their income stream, or to be able to rent elsewhere whilst repairs are taking place.
- Office Bearers’ Liability – Committee members can be personally responsible for decisions they make on behalf of the Body Corporate. Office Bearers Liability protects committee members when liability has arisen from an alleged or wrongful act, omission or breach of duty.
- Fidelity Guarantee – Protects the Body Corporate against fraudulent embezzlement or fraudulent misappropriation of their funds and tangible assets.
- Personal Accident for Voluntary Workers – Provides compensation to any person who voluntarily works on behalf of the Body Corporate.
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