🏢 Commercial Property Insurance: What It Covers

🧱 What Is Commercial Property Insurance?

Put simply: it’s insurance that covers physical assets your business owns or leases.
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We’re talking about:

• The building itself (if you own it)
• Machinery, tools, equipment
• Fixtures, fittings, stock
• Furniture, signage, even computers

If it’s physical and important — it probably belongs under this policy.

And no, your landlord’s insurance doesn’t cover your stuff.

🔍 What Does Commercial Property Insurance Actually Cover?

Here’s where most business owners underestimate the value.

A solid policy can cover damage caused by:

Event Covered Fire or explosion ✅Storms, hail, lightning ✅Theft or vandalism ✅Water damage✅ (depending on policy) Accidental damage✅ (some include this automatically) Earthquake or flood⚠️ Often optional

But here’s the catch — not every policy is created equal. Some are barebones, others offer full replacement value. Always check the fine print (or have your broker translate it into plain English).

🚨 What’s Not Covered?

Let’s not sugarcoat it — there are gaps.
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Most commercial property insurance won’t cover:

• Normal wear and tear
• Employee theft (that’s another policy)
• Business interruption (get a separate policy for that)
• Acts of war, cyberattacks, or nuclear events (yes, really)

So if you think one policy is a magic shield against everything... it’s not. But it’s still a damn good start.

🧠 Why Smart Business Owners Get This Right

We’ve seen it time and time again:

Business A gets commercial property insurance.
Business B says “I’ll sort it later.”

⚡ Then comes the storm.
A’s rebuilding in a week.
B’s GoFundMe link is floating around LinkedIn.

Whether you're in Canberra, Brisbane, or Wagga Wagga, your physical location and gear are the foundation of your business.

Lose them, and you’re out of action. Maybe for good.

💡 Pro Tip: Understand Your “Coverage Type”

You’ll hear these two thrown around:

🔹 Replacement Cost

Covers the cost to rebuild/repair with materials of similar kind and quality. Best for long-term peace of mind.

🔸 Actual Cash Value

Pays based on depreciated value. Cheaper premiums, but can leave you underinsured.

The right choice? Depends on your cash flow, risk appetite, and how fast you want to bounce back after a loss.

📦 Bonus: Do You Lease Commercial Space?

Even if you don’t own the building — you still need cover.
Landlord policies won’t replace:

• Your signage
• Your tools
• Your coffee machine (especially that $5,000 Italian one)

Tenants should get contents-only commercial property insurance — it’s cheaper and still protects what matters.

💬 Real Talk: Don’t Just "Get a Quote" — Get it Tailored

A good broker won’t just give you a number. They’ll ask:

• Where’s your property located?
• What’s your asset value?
• What kind of risks do you face?

They’ll help you customise a policy so you’re not overpaying, but also not exposed.

🛠️ Who Is This For?

If you’re:

• A retail store owner
• A tradie with a warehouse
• A café leasing a shopfront
• A manufacturer with machinery
• A service business with a physical HQ

…you need this. Full stop.

📍 Wrapping It Up: Protect Your Base

Your building and gear are more than just things — they’re the home base of your business.
Public liability protects you from claims. Cyber cover handles online threats. But commercial property insurance?
It protects what you can see, touch, and lock up at night.

👋 Ready to sort it out?

At Earnest Insurance, we help Canberra businesses get smart, tailored commercial property insurance without the headache.

✅ No long forms
✅ No call centres
✅ Just clear advice and fast quotes

📞 Call us at 1300 402 412 or get a free quote in 60 seconds.

📢 Disclaimer:

This article is for general informational purposes only. Please speak to a licensed insurance adviser to assess your specific business needs and risk profile.

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