Illustrative example
Fire damages an insured tenant fit-out. If covered, the policy may contribute to reinstatement and insured interruption costs after the applicable excess and waiting period.
Premises, stock and income
Commercial property insurance
Your premises can hold buildings, fit-out, contents, stock and income that all depend on the same location.
Commercial property insurance may respond to insured physical loss or damage at a declared location. Business interruption, theft, machinery, glass, money, flood and loss of rent may be included, optional, limited or separate depending on the wording.
Preparing the review
What information usually matters?
- Address, occupancy, construction, age, fire protection and adjoining risks.
- Replacement values for buildings, fit-out, contents, stock and machinery.
- Revenue, gross profit, dependencies and a realistic interruption indemnity period.
- Flood, storm, bushfire, theft and catastrophe exposure.
- Claims history, risk improvements, leases, mortgages and interested parties.
Important boundaries
Declared values, co-insurance clauses, exclusions and sublimits matter. Portable property, cyber interruption, machinery failure and flood may need separate consideration.