Commercial Property

Commercial Property Insurance Queensland

‍For many organisations in Australia, standard business insurance does not adequately cover their business for the risks and exposures that can cripple their operations and livelihood.
An Industrial Special Risks Insurance policy has open-ended wording, which means cover is not limited to selected risks. Instead, you are protected against most losses and damages except for exclusions noted in the policy.

At Hunter Broking, we have access to comprehensive commercial property insurance policies that are designed to meet the unique needs of businesses throughout Queensland. The policies can be tailored to cover the replacement value of your commercial property and contents, as well as loss of rent and income if your business is forced to close due to damage caused by a covered event.

For more information about our commercial property insurance policies, contact Hunter Broking today. Our team of experienced insurance brokers will work with you to find the right policy for your business, at the most competitive price.

What is a Commercial Property Insurance Policy?

A commercial property insurance policy is a contract between you and your insurance company. It's designed to protect your business property from physical damage, loss or destruction, and to provide you with financial compensation in the event that your commercial property is affected by a covered event.

Who needs Commercial Property Insurance?

Any commercial property owner should consider commercial property insurance to protect against the many potential risks and exposures that can damage their business. More specifically, businesses with a large amount of assets &/or locations, particularly those who have a combined asset & insurable gross profit exceeding $5,000,000. Whether you own a commercial office building, retail store, warehouse or industrial property, the policies we source can be tailored to meet your specific needs.

Coverage for Commercial Property Insurance

Commercial Property Insurance policies can be custom-made to cover a wide range of risks, including:

Fire damage
Flood damage (optional if available)
Storm damage
Earthquake damage
Vandalism and malicious damage
Impact damage (e.g. from vehicles or falling trees)
Water and sewage leakage
Glass breakage

At Hunter Broking, we have access to commercial property insurance policies that can be tailored to cover the replacement value of your commercial property and contents

Insurance Advice for Commercial Property Owners

To lower the risk of fire, choose a business location that is not located to closely to bushes or high fire risk occupancies.
To lower the risk of water damage, It may be important to ascertain the condition of the water system (i.e. is it old or in need of repair). Premises located in areas where there are very low temperatures present an additional hazard. In such areas where pipes are exposed the water may freeze and may split the pipe. On thawing, the water can escape from the split pipe and cause damage. Adequate insulation on the pipes is essential.
To lower the risk of malicious damage & vandalism choose a business location that is not deserted after dark or is in a high crime area, this will be a particular concern.

Public Liability Insurance

Public liability insurance is a type of insurance that can protect you from financial damages if you are found liable for injuries or property damage caused to another person in the course of your business. If you have commercial property insurance, it is likely that public liability insurance will be included as part of your policy. For example, if you own a commercial office building and one of your tenants is injured on the premises due to negligence, public liability insurance can help to cover the costs of any claims or lawsuits that arise from the incident.

Whether you own commercial property or rent commercial space, it is important to protect yourself from the various risks and liabilities that can arise. To learn more about commercial property insurance and public liability insurance, speak with a qualified insurance broker today.

Contact Trusted Commercial Property Insurance Brokers

Whether you own commercial real estate in Brisbane, Gold Coast, Sunshine Coast or anywhere else in Queensland, Hunter Broking can help.
Our Brisbane Insurance Brokers can help you get the right insurance cover by assessing your specific needs and recommending the best value insurance solution for your business, whilst still maintaining the highest standard of cover.

Information Source

https://www.pscconnect.com.au/business-insurance-products/industrial-special-risks-insurance/

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Befor Pty Ltd ABN 94 672 803 646 | CAR 1309635 trading as Hunter Broking is a Corporate Authorised Representative of Resilium Insurance Broking Pty Ltd ABN 92 169 975 973 | AFSL 460382.

The information on this website does not take into account the objectives, financial situation or needs of any person. Before making a decision, you should consider whether it is appropriate in light of your particular objectives, financial situation or needs.

We subscribe to and are bound by the Insurance Brokers Code of Practice, a full copy of which is available from the National Insurance Brokers Association (NIBA) website, www.niba.com.au

General contents with set limits	Limit	Option to increase limits?
Jewellery, or items containing gold or silver	up to $10,000 for each item, set or collection, up to 25% of the unspecified contents sum insured in total, unless items have been specified
Watches (except smart watches)	up to $10,000 for each item, set or collection, up to 25% of the unspecified contents sum insured in total, unless items have been specified
Cameras and photographic equipment and accessories	up to $10,000 for each item, set or collection, up to 25% of the unspecified contents sum insured in total, unless items have been specified
Collections or sets, like stamps, memorabilia, documents, medals or coins	up to $10,000 for each item, set or collection, up to 25% of the unspecified contents sum insured in total, unless items have been specified
Pictures, paintings, works of art	up to $10,000 for each item, set or collection, up to 25% of the unspecified contents sum insured in total, unless items have been specified
Antiques or Oriental rugs	up to $10,000 for each item, set or collection, up to 25% of the unspecified contents sum insured in total, unless items have been specified
Commercially recorded or downloaded media content, including audio, video, phone or tablet applications and games	$2,000 in total
Spare parts or accessories (excluding keys) which are not fitted or being used for the following: motor vehicles farm vehicles caravans and trailers watercraft aircraft	$4,000 in total
Money, cheques, and other negotiable instruments	$2,000 in total
Contents intended to be kept outside, like Your barbeque, outdoor furniture and children’s play equipment.	$10,000 in total
Contents in a locked storage cage in the basement of a strata title development at the insured address	$5,000 in total
Laptops, tablets, mobile phones, portable computers and their accessories (see optional Listed Portable Contents cover on page 48 for ways to increase limits on these items)	$3,500 per item
Smart watches and other wearable technology	$1,500 per item
Drones and other remotely or autonomously piloted aircraft (covered only when not in use and not used for business).	$1,500 per item

Contents used for business
Specific equipment used for business, trade, or professional purposes, including: computers, hardware and software tools or musical instruments photographic equipment	up to $10,000 in total
Stock for business, trade or professional purposes.	$5,000 total