Commercial Property Insurance
Whether you rent or own your business space, having commercial property insurance can provide financial coverage for physical loss or damage to your building, property and contents.
Trusted by over 300,000 Canadian small business owners!
Save up to 35% on your insurance
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Trusted by over 300,000 Canadian small business owners!
Save up to 35% on your insurance
Instant price and coverage in just a few clicks!
Partnerships with over 50 leading Canadian insurance providers
Partnerships with over 50 leading Canadian insurance providers
Why Choose Zensurance?
We help Canadian business owners save time and money by providing
a convenient and affordable way to buy commercial property insurance.
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.
Commercial Property Insurance Claims Examples
Problem: There is a fire in your office building, which results in damage to your office furniture and computer equipment.
Outcome: Your commerical property insurance covers the cost to replace all of the insured contents damaged in the fire.
Problem: Three of your company laptops were stolen out of your car while parked at a client’s office.
Outcome: Your business contents insurance covers the cost to replace your laptops.
Problem: A flash flood causes significant water damage to your rental property.
Outcome: Your commercial building insurance covers the cost to repair the damage to your property.
Commercial Property Insurance, Explained.
What is Commercial Property Insurance?
Commercial property insurance provides financial coverage for physical loss or damage to your property and its physical contents due to an external disaster, such as a fire, theft, or vandalism.
This policy is also known as:
- commercial building insurance
- business property insurance
Business contents insurance is usually a sub-coverage under your commercial insurance policy.
What does Commercial Property Insurance cover?
Commercial property insurance typically includes coverage for the following:
- Tenant Improvements: Improvements you make to a building as a tenant, which cannot be removed, such as carpeting, lighting, paint.
- Building Coverage: Replace or repair damage to a property you own due to unforeseen disasters, such as fire or flood.
- Inventory: Replace or repair your merchandise and inventory, including food items, in case of fire, theft, or damage.
- Equipment/fixtures/furnishings: Replace or repair your equipment, fixtures, or furnishings that were lost or damaged due to unforeseen events.
- Electronics: Replace or repair your electronics that are damaged or stolen inside and outside of your office.
What is the cost of Commercial Property Insurance?
The cost and amount of commercial property insurance you need will vary by business. The following factors are taken into consideration when determining the best policy options for you:
- Type of Property
- Type of Business
- Age and Condition of Property
- Property Location
- Previous Insurance Claims
We’ve partnered with over fifty insurance providers to offer you different contents coverage options that suit your business needs at the best price.
What is not covered by Commercial Property Insurance?
Commercial property insurance does not typically provide coverage for:
- The mysterious disappearance of an item, where the cause of loss cannot be explained;
- Property left at vacant or unoccupied locations for over 30 days; (you’ll need Vacant Property Insurance)
- Wear and tear to equipment due to regular use.
- Cash, securities, or precious metals (you’ll need Crime Insurance).
Who needs Commercial Property Insurance?
You need commercial property insurance if:
- You own or lease a commercial building, equipment, or inventory
- You have an office or commercial space
- You use computers, hardware, or machinery for business purposes
- You use portable electronics, such as laptops, tablets, or mobile phones for business purposes
- You or your employees conduct business off-site.
What is the standard deductible in a commercial property policy?
Most commercial property insurance policies include at least one deductible. These help keep the cost of premiums low for both the policyholder and the insurer.
The most commonly used are:
- Flat Deductibles are a specific dollar amount applied to each loss, as well as the most frequently seen deductible in commercial property policies.
- Percentage Deductibles are usually used in catastrophic events to cover a percentage of the policy’s limit or value of the property.
- Waiting Periods refer to the amount of time before coverage sets in; this term is commonly used in business interruption policies.
Frequently Asked Questions About Commercial Property Insurance
As the name suggests, All-Risk insurance coverage covers all losses unless otherwise specified. Named Peril policies only cover risks listed explicitly in the policy, with all others assumed to be excluded. You can add additional coverage to your policy as a rider in both cases.
Non-residential property is considered vacant after 30 days and seen as high-risk. When your property is vacant or unoccupied for a prolonged period, it is more susceptible to property damages, such as theft and vandalism, which may affect how your insurer would handle a claim. As a result, your insurer may remove some key coverages from your policy (e.g., vandalism-related property damages) after 30 days of being vacant. Please speak to our brokers to better understand the restrictions around commercial property vacancy.
No, employee theft is covered under crime insurance coverage. Although commercial property insurance may protect businesses from property damage by third parties, it does not cover stolen money or securities. About one in three Canadian companies are concerned about employee theft. To protect your business from theft of money and securities, forgery, and computer fraud, by a third party, add crime insurance to your policy.
Other business insurance coverage options to consider:
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- Had a great experience working with Julianne Katz as she walked me through the different insurance options and what they mean! I highly recommend their service.Sam Gabrail7/24/2024Angela Grigg was awesome to work with. the process was very smooth and clear. Thanks for your helpHalyna Uvarova7/24/2024Bernard was very professional and helped us through the processMohd Adnan Khan7/23/2024
- Staff are extremely helpful and attentive. They are very quick with their response time and turnaround time. I would highly recommend Zensurance to anyone!Tyson Buchannon7/23/2024Good service , I renewed my policy for the 3rd time, the zensurance team helped me to get the best option on the market that will suits my companyVladimir Perciun7/23/2024Very helpful and reasonable rates. Bernard Albano worked with me to find the right insurance policy for my business and he reached out to be sure I had answers to all my questions. I would recommend Bernard and Zen insurance.Rachel Kruyf7/22/2024
- Received great service and all questions answered quickly. Happy customer!AL DL7/21/2024Thank you Zen insurance. Isha assisted me, very polite, quick to respond, and really went one by one of what my coverage entails. It's the best idea as a Landlord to get an good rare and reliable insurance.Alexandra Mendizabal7/19/2024Bernard from Zensurance found the very best rate for my Commercial General + Professional Liability insurance needs. As a Brand and Environmental Graphic Design consultant, this type of policy was quite difficult to find. So kuddos to Bernard in finding this coverage for me.Andy Lucardie7/19/2024
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