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Commercial Property Insurance

  • Tailored advice from experienced industry brokers
  • Comprehensive insurance account management

Specialist insurance brokers for commercial property & strata management requiring complex insurance programs.

Commercial Property

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Specialised solutions for commercial property

What Is Commercial Property Insurance?

Whether you’re a developer, property manager, or property owner, it’s essential to secure comprehensive commercial property insurance for your assets.

A foundational commercial property insurance policy includes building insurance, rental income protection, and public liability. However, modern insurance for commercial property has expanded to cover a broader range of risks, including:

Machinery Breakdown

Complex coverage for loss or damage to large machinery, plant, and mechanical equipment, with options to include coverage for the resultant business interruption costs.

Inducements

This covers the expenditure necessary to induce tenants to lease or re-lease a building following reinstatement after a loss (including partial leases) from insured events.

Loss of Attraction – General Area

Provides coverage option for the loss of rental income or disruptions in normal business operations should a key tenant vacate the premises (ex. A large supermarket in a small suburban shopping centre).

Claims Preparation Costs

Covers the cost of professional fees for the preparation, presentation and settlement negotiations for various types of large commercial property claims.

Loss of Attraction – General Area

Coverage for loss of rental income or disruptions in normal business operations if caused by the damage to a property adjacent from the insured property.

Key Areas of Focus in Commercial Property Insurance

01

Calculating Rental Income

When calculating the annual rental income for a property, one should factor in:

 

  1. Indemnity (recovery) Period, consider the following:
  • Time to demolish and rebuild.
  • Time for Council approvals.
  • Time to re-tenant the building
  • Minimum of 24 months recommended, your rental income will be covered for the period you select.

 

  1. Outgoings, which includes parking and utilities.

 

  1. Escalation costs over this period.
02

Insurer to Value

To ensure a claim is fully paid by the insurer, it is important that the property is valued at its full replacement cost.

 

We recommend having a professional insurance replacement cost valuation completed every 3 years to keep the value up to date.

03

Industrial Special Risk (ISR) Policy vs. Business Package Policy

An Industrial Special Risk policy provides cover for Buildings and Contents damage and Business Interruption cover by any cause not specifically excluded by the policy. This all-encompassing policy is designed for mid to high-value properties, typically from $5,000,000 upwards.

 

The Business Package offers protection for small to medium size properties, or small business owners against insured perils stated in the policy wording (fire, theft, vandalism, property damage, water damage, etc ). Typically not as comprehensive as the ISR policy, but can be more price competitive if the property is valued under $8,000,000.

04

Knowing Your Duty to Disclose

It is the legal responsibility of the person applying for insurance to disclose relevant information to the insurer before an insurance quote is accepted and the contract is entered into.

 

The insurer is within their rights to remove themselves from a policy if they become aware of a risk they did not previously know of.

 

Please contact us for general advice on your duty of disclosure if clarification is needed.

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why you need commercial property insurance

Why KBI for Commercial Property Insurance?

At KBI, our extensive network, strong industry relationships, and expertise in property risk management allow us to offer tailored commercial property insurance solutions.

We streamline the insurance process, providing expert advice to help clients understand their coverage and make informed decisions. Our team is dedicated to ensuring your commercial property insurance program meets your specific needs.

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meet the team

Our Commercial Property Insurance Team

Our team of industry specialists are here to help.

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Cecilia Benitez

Account Manager

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Brett Coultas

Account Executive

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Lachlan Stretton

Director

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Melanie Lockerbie

Claims Manager

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Travis Kenzle

Managing Director

Latest News

Commercial Property Insurance Blogs

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CLIENT TESTIMONIALS

What Our Clients Say

We have been working with Travis, Nick and the team at KBI for a number of years

and have always been impressed with the quality of their service, their understanding of the market, and value they can offer our clients.

Dan Smith

Minerva Corporate

Came to the rescue when i was left in the lurch

by a previous insurance broker. Great level of service. Highly recommended.

Mitchell Walmsley, Director & Co-Owner

Affluence Chartered Accountants

Great team who care

about getting the best results for their clients.

Steve Jackson, Company Secretary

Anova Metals Limited

Professional, helpful and efficient.

KBI have provided our company with all our insurance needs for the past few years. During that time they have been exemplary in their approach. Highly recommended.

Storm Taylor, Office Manager

Discovery Capital Partners

The KBI Directors’ & Officers’ team are my go to insurance brokers for publicly traded companies that I am involved with. They are one of the few brokerages that passionately understand the junior public company space.

The explanation and comparison they provide makes it easy for our key executives to make an informed decision. I regularly recommend their services to other public companies in need of Directors’ & Officers’ insurance and other operational insurances.

Eddie King, Director

King Corporate

Having dealt with Nick and Travis for insurance needs for both small and medium-sized businesses it’s safe to say they know what they are doing and genuinely have their clients’ best interests at heart.

No matter how small an enquiry, Nick is always at the ready and has a solution back to you in no time. I’ve recommended them to others and have had the same feedback given to me in regards to their professionalism, availability to answer questions and the solutions they’ve provided.

Emma Kenton, Small Business Owner

Great Minds Group

Travis and this team have done a great job providing effective and supportive advice to our company over several years now.

Travis understands the value of service very well and we really appreciate it.

Anthony Kain, Executive Director

Peppermint Innovation Limited

Since being introduced to KBI, I have found their professionalism to be second to none in the industry.

I strongly recommend KBI as the insurance broker of choice regarding Commercial Property Insurance. They know the Commercial sector inside out and operate on a different level to any other broker I’ve worked with. When it comes to service, they always go above and beyond and ensure my clients are provided with the best available insurance options every year – 10/10.

Toby Bridges, Director

Lever Property Group

I’ve been working with the KBI team for four years and their service has been excellent.

They take the time to answer all my questions and give me great guidance when renewing my policies and making a claim. I would strongly recommend KBI.

Ryan Budge, Property Owner

Commercial Property

Reflecting on the past year, we extend our thanks for the unwavering support and exceptional services provided by KBI.

This year has presented its challenges, and having KBI by our side has made a significant difference. Your team’s dedication, support, and guidance have been invaluable, and we are truly grateful.

Genevieve Loving, Administration & Office Manager

ABBA Engineering

Our Partners

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get in touch

Get in Touch 

Contact us today to get specialised, tailored advice for your specific needs.

Commercial Property

"*" indicates required fields

What is the address of the commercial property you would like to insure?*