Commercial Property Insurance Ontario

Commercial Property Insurance Ontario

Comprehensive protection for Ontario small businesses to safeguard their buildings, equipment, and assets from unexpected damage or loss

Trusted by over 350,000 Canadian small business owners!

Save up to 35% on your insurance

Get the best insurance quote in a few clicks!

Trusted by over 350,000 Canadian small business owners!
Save up to 35% on your insurance
Get the best insurance quote in a few clicks!
Get a Free Quote
Zensurance - Ontario Commercial Property Insurance Quote

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Business Property Insurance Ontario

Save on your commercial property insurance

Fire and smoke damage, burst pipes and water damage, theft and vandalism, natural disasters and severe weather that damages buildings and equipment – a wide range of events beyond a business owner’s control can inflict significant damage to a business property that costs tens of thousands of dollars to repair or replace.

More than 350,000 Canadian small businesses in hundreds of industries trust Zensurance to protect their business properties and contents with customized, low-cost commercial property insurance.

With over 5,000 five-star reviews by our small business clients on Google Reviews, we’re the small business insurance experts Ontario business owners rely on to help insure and protect their properties and finances.

Commercial property insurance for Ontario small businesses is coverage that helps protect a business’s physical assets from damage, loss, or theft and vandalism. 

It includes coverage for commercial buildings businesses own or lease, as well as their furniture, electronics, equipment, inventory, signage, and even important documents – anything vital to a company’s daily operations.

Commercial property coverage in Ontario is essential for covering expensive damages caused by fire, smoke, burst pipes, water damage, extreme weather, natural disasters, theft and vandalism.

Commercial property insurance typically includes business interruption insurance to cover lost income and operating expenses following an insurable loss if forced to close temporarily for repairs.

Commercial property insurance, also called business property insurance, can help protect Ontario businesses’ buildings, inventory, and physical assets from various risks.

It covers:

  • Buildings and attached structures (flooring, roofs, broken windows, signage)
  • Inventory and merchandise
  • Equipment, lighting, fixtures, furniture, and electronics
  • Permanent improvements made to a building by a tenant leasing a commercial property, such as carpeting, flooring, paint, and lighting

Without business property insurance, business owners are responsible for repairing or replacing damages to their properties and contents out of pocket, which can be devastating for a small business. 

It’s critical coverage to keep businesses in operation after unexpected disruptions and events beyond their control, like damage caused by extreme weather and natural disasters.

Insurers determine the annual premium for commercial property insurance based on various factors about your business and its operations, including:

  • The location and type of property
  • The age and condition of the building and property
  • The type of industry a business is in and the services it provides
  • The value of the property and a business’s equipment and contents
  • The coverages a business owner selects, the coverage limits, and deductibles
  • The number of employees a company has (if applicable)
  • Annual and gross projected revenue
  • The business’s insurance claim history

The total value of a business property and its contents influences the price of a policy. 

The price of commercial property insurance is heavily dependent on the rebuild cost of your commercial space. We strongly recommend you get a professional appraisal done to ensure you are insured adequately.

Any small business that owns or leases a physical location – whether it’s an office, retail store, workshop, warehouse, or restaurant – should consider purchasing commercial property insurance. 

Even home-based businesses with valuable tools, electronics, and inventory should invest in a customized commercial property insurance policy to safeguard their assets and finances.

Getting insured is quick and easy!

Complete our 5-minute online application for a free commercial property insurance Ontario quote.

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Claims Examples

Coverage

Problem: A fire ignites inside a building, causing significant fire and smoke damage to an office and destroying its contents and electronics.

Outcome: Commercial property insurance may cover the cost of repairing the building’s structural damage and replacing the lost contents and electronics.

Coverage

Problem: A severe wind and rain storm damaged a warehouse roof and caused water damage inside the commercial space.

Outcome: Commercial property insurance may cover repairing or replacing the damaged roof and repairing any internal water damage inflicted by the storm.

Coverage

Problem: A retail store’s front window is smashed, and thieves ransack the interior, stealing merchandise and destroying furniture and electronics.

Outcome: Commercial property insurance may pay to replace the shattered window, repair the interior damages, and replace destroyed furniture, electronics, and stolen merchandise.

Frequently asked questions

Does commercial property insurance cover inventory that fluctuates throughout the year?

Yes. Commercial property insurance helps protect a business’s inventory and merchandise year-round. However, it may be advisable to include a peak season endorsement to a policy if a business stores larger-than-usual amounts of inventory at specific times, such as during seasonal holidays or peak seasons.

What is not covered by a commercial property insurance policy?

All types of business insurance policies contain exclusions, or incidents and events that are not covered.

Typical exclusions in a commercial property insurance policy are damages incurred due to wear and tear, cyber-attacks and data breaches (requires cyber liability insurance), internal theft (requires commercial crime insurance), and earthquakes and overland floods (unless explicitly added to a property policy).

What’s the difference between replacement cost and actual cash value in a commercial property insurance policy?

Replacement cost and actual cash value commercial property coverage are two different methods used to determine compensation if a business owner files a claim for property damage.

Replacement cost coverage pays to replace damaged property and contents with new ones without factoring in depreciation. Actual cash value coverage factors in depreciation due to a property’s or contents’ age and condition and may result in a lower payout.

Why Choose Zensurance?

We help Canadian small business owners save time and money by providing
a convenient and affordable way to buy business insurance online.

Convenience

Purchase your insurance anytime, anywhere, with our easy-to-use online platform.

Cost

Compare rates across leading insurance companies to ensure you get the best price on your premium.

Curation

We use data and analytics to identify the right insurance policies for your business.

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Ready to Start? Let’s Get a Quote!

Protect your company’s finances, business property, equipment, and inventory from damages and losses beyond your control with comprehensive, customized commercial property insurance from Zensurance.

We’re Canada’s leading small business insurance provider, helping hundreds of thousands of Canadian business owners protect their physical properties and assets from devastating losses.

Fill out our online application for a free quote in less than five minutes.

Let our team of knowledgeable brokers shop our partner network of over 50 insurers to get the low-cost commercial property insurance Ontario your organization needs and tailor it to suit your requirements so you can focus on growing your bottom line.

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