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Commercial Property Insurance Queensland
For many organisations in Australia, standard business insurance does not adequately cover their business for the risks and exposures that can cripple their operations and livelihood.
An Industrial Special Risks Insurance policy has open-ended wording, which means cover is not limited to selected risks. Instead, you are protected against most losses and damages except for exclusions noted in the policy.
At Hunter Broking, we have access to comprehensive commercial property insurance policies that are designed to meet the unique needs of businesses throughout Queensland. The policies can be tailored to cover the replacement value of your commercial property and contents, as well as loss of rent and income if your business is forced to close due to damage caused by a covered event.
For more information about our commercial property insurance policies, contact Hunter Broking today. Our team of experienced insurance brokers will work with you to find the right policy for your business, at the most competitive price.
What is a Commercial Property Insurance Policy?
A commercial property insurance policy is a contract between you and your insurance company. It's designed to protect your business property from physical damage, loss or destruction, and to provide you with financial compensation in the event that your commercial property is affected by a covered event.
Who needs Commercial Property Insurance?
Any commercial property owner should consider commercial property insurance to protect against the many potential risks and exposures that can damage their business. More specifically, businesses with a large amount of assets &/or locations, particularly those who have a combined asset & insurable gross profit exceeding $5,000,000. Whether you own a commercial office building, retail store, warehouse or industrial property, the policies we source can be tailored to meet your specific needs.
Coverage for Commercial Property Insurance
Commercial Property Insurance policies can be custom-made to cover a wide range of risks, including:
- Fire damage
- Flood damage (optional if available)
- Storm damage
- Earthquake damage
- Vandalism and malicious damage
- Impact damage (e.g. from vehicles or falling trees)
- Water and sewage leakage
- Glass breakage
At Hunter Broking, we have access to commercial property insurance policies that can be tailored to cover the replacement value of your commercial property and contents
Insurance Advice for Commercial Property Owners
To lower the risk of fire, choose a business location that is not located to closely to bushes or high fire risk occupancies.
To lower the risk of water damage, It may be important to ascertain the condition of the water system (i.e. is it old or in need of repair). Premises located in areas where there are very low temperatures present an additional hazard. In such areas where pipes are exposed the water may freeze and may split the pipe. On thawing, the water can escape from the split pipe and cause damage. Adequate insulation on the pipes is essential.
To lower the risk of malicious damage & vandalism choose a business location that is not deserted after dark or is in a high crime area, this will be a particular concern.
Public Liability Insurance
Public liability insurance is a type of insurance that can protect you from financial damages if you are found liable for injuries or property damage caused to another person in the course of your business. If you have commercial property insurance, it is likely that public liability insurance will be included as part of your policy. For example, if you own a commercial office building and one of your tenants is injured on the premises due to negligence, public liability insurance can help to cover the costs of any claims or lawsuits that arise from the incident.
Whether you own commercial property or rent commercial space, it is important to protect yourself from the various risks and liabilities that can arise. To learn more about commercial property insurance and public liability insurance, speak with a qualified insurance broker today.
Contact Trusted Commercial Property Insurance Brokers
Whether you own commercial real estate in Brisbane, Gold Coast, Sunshine Coast or anywhere else in Queensland, Hunter Broking can help.
Our Brisbane Insurance Brokers can help you get the right insurance cover by assessing your specific needs and recommending the best value insurance solution for your business, whilst still maintaining the highest standard of cover.