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 property and contents.
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Save up to 35% on your insurance
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Join over 100,000 businesses that have trusted us!
Save up to 35% on your insurance
Just a few minutes to get your best quote
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. The total cost covered is $50,000.
Problem: Three of your company laptops are stolen out of your car while parked at a client’s office.
Outcome: Your Business Contents Insurance covers the cost ($7,500) to replace your laptops.
Problem: A flash flood causes significant water damage to your rental property.
Outcome: Your Commercial Property Insurance covers the cost to repair the damage to your property, totalling $87,000.
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
- commercial rental 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; or,
- 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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The renewal process was quick and easy for the most part. When I needed assistance in completing the document it... read moreThe renewal process was quick and easy for the most part. When I needed assistance in completing the document it was provided in a quick and efficient manner. read less
Ross Leclair6/24/2022Mark was very helpful in gliding me through the process of obtaining my Business Insurance policy!Thank you, Mark!
Erika R6/24/2022Brenda was a pleasure to work with, thanks again.
Gregory Tome6/23/2022 -
Josh did an incredible job very helpful and informative. He was able to accommodate my tight schedule and supply me... read moreJosh did an incredible job very helpful and informative. He was able to accommodate my tight schedule and supply me with everything I needed. He will be the first person I will call in my future needs. read less
GARNET BANFORD6/23/2022I needed liability insurance to teach Senior's fitness. Zensurance staff were helpful, offered a reasonably priced product (I did... read moreI needed liability insurance to teach Senior's fitness. Zensurance staff were helpful, offered a reasonably priced product (I did check with 3 other companies) and fulfilled my order quickly and efficiently. I would recommend them to anyone, anytime. read less
Margaret Harris6/23/2022Great experience so far! Just signed up for some commercial insurance -- Josh H helped us... very fast and efficient,... read moreGreat experience so far! Just signed up for some commercial insurance -- Josh H helped us... very fast and efficient, and a great price. read less
Suzanne Peters6/23/2022 -
Mark Cote was super helpful and quick to respond to my calls and emails. He got me the best rate... read moreMark Cote was super helpful and quick to respond to my calls and emails. He got me the best rate for my yoga and fitness policy. I recommend this Canadian company for all fitness professionals. Site is easy to navigate, and the online chat team is responsive and helpful as well. Thank you! read less
Hamida Denny6/06/2022Perfect so far - Easy to sign-up and get coverage at a reasonable rate. This was by far the best... read morePerfect so far - Easy to sign-up and get coverage at a reasonable rate. This was by far the best experience I have had getting coverage for my small business. Justin was great and I am very happy with Zensurance so far.
I don't have experience with any claims (hopefully I won't need one), but would recommend this insurer if you are looking for coverage. read lessTrevor Schofield5/26/2022Absolutely a great support service. They respond to my emails quickly. Their chat feature on their website is... read moreAbsolutely a great support service. They respond to my emails quickly. Their chat feature on their website is very easily accessible, and I only waited for one minute! Couldn't be happier.
We are pleased that we switched to this broker from our old broker that we were with for over 20 years.
Zensurance is highly recommended if you are looking for business insurance. read lessJeff Panasuik5/20/2022
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