For people who own a commercial building and lease it to tenants. It covers the building itself, anything of yours inside it, the rent you would lose if it could not be let after damage, and your liability as the owner. If you trade from premises you rent, a Business Pack usually fits better.
The sum insured is what it costs to rebuild today, not what the property would sell for. A rebuild carries costs a sale price does not: demolition, debris removal, professional fees, and meeting current building codes. Insuring at market value is the most common reason an owner’s claim falls short.
These are the real questions, and why each one changes your premium. Our chat walks through them with you.
Insurers price a building on what happens inside it. A cafe with fryers, a panel beater with a spray booth and an accountant in the same strip are very different fire risks, and the riskiest tenant sets the premium.
Not what it would sell for. A rebuild carries costs a sale price does not — demolition, debris removal, professional fees and meeting current building codes. Insuring at market value is the most common reason an owner’s claim falls short.
That sets your loss-of-rent cover and how long it pays for. It has to run through the claim, the approvals and finding new tenants, not just the build.
Policies generally will not pay loss of rent for a period when no lease or periodic tenancy existed at the time of the damage. A building between tenants is a different conversation.
No forms. Answer a few questions in chat and an authorised broker takes it to the market for you.
This page is general information only and does not take your objectives, financial situation or needs into account. Consider the Product Disclosure Statement before deciding. Cover is subject to the insurer’s terms and acceptance.