Your assets – your building, inventory and equipment can be replaced. But at what cost? When you're considering whether or not you need property insurance, this is the question you must ask yourself.
Property insurance comes with a range of options – so you can customize an insurance solution that works for your business.
Your business is more than just bricks and mortar. Whether you own your commercial space, lease an office or work from home – commercial property insurance protects you against loss or damage such as a fire, theft, vandalism, and more.
This protection covers the physical assets of your business inside and out, including: buildings, inventory, electronics and equipment, as well as exterior fixtures (outdoor signs, fencing and landscaping, etc.).
Did you know?
There are two types of commercial property insurance policies: all risks and named perils.
All risk insurance covers you for incidents arising from an insured peril that your insurance policy doesn’t specifically exclude, as opposed to named perils insurance, which only covers losses specifically stipulated in the policy.
Build up your commercial property insurance with custom extensions:
When your commercial property is damaged or destroyed by a loss such as a fire or water damage, your business operations and income could be temporarily interrupted. That's when the bottom line really takes a hit.
Business interruption coverage will compensate you for loss of income as well as fixed and extra expenses incurred while your commercial property is being replaced or repaired, if your business operations are temporarily interrupted due to an insured loss as per your commercial property insurance policy.
Earthquake coverage for your business premises is available in case of damage caused by an earthquake or earthquake-induced avalanches, snow slides and landslides.
Flood coverage for your business premises is available in case you experience damage caused by flood waves, tides, tidal waves, tsunamis and the breaking out or overflow of any body of water (natural or man-made).
Sewer back-up coverage protects is available for the area bounded by the bearing walls and foundations of your building in the event of damage caused by the backing up or overflow of water from within sewers, sumps, septic tanks or drains.
EDGE Complete is a comprehensive package that features over 60 different coverage extensions to enhance your commercial property insurance policy.
With the flexibility to choose the limits you need, you can customize your insurance policy to your business, and easily adjust your policy as your business grows and evolves.
Ask a broker about EDGE Complete and how it could benefit your business.
Your business might not have a consistent physical address or might regularly move equipment across different locations. Mobile property insurance provides coverage for property that you don't store at a fixed location, or for equipment routinely taken offsite wherever it is within Canada and the U.S.
Put simply, mobile property insurance covers risks such as transit and theft exposure that come from property not being stored in a secure location, as opposed to your standard commercial property insurance that covers property generally expected to be in a designated location.
From a small retail store to a large manufacturing plant, equipment breakdown exposure impacts almost every type of business and can lead to substantial revenue loss.
Equipment breakdown insurance covers losses resulting from the accidental breakdown of pressure vessels, boilers, production machinery, heating, refrigeration, air conditioning and/or electronic equipment that are specifically excluded from a commercial property insurance policy.
Available as a stand-alone policy or added to an Intact business package policy, this insurance covers the repair and replacement of the equipment insured.
Crime insurance protects your business against a wide variety of threats, causing unplanned expenses and lost time including: Employee Dishonesty; Theft, Robbery or Burglary; Fraud and Expenses resulting from a Crime loss.
Add Social Engineering Fraud coverage to your policy to protect your business against loss of money, securities or other property as a direct result of social engineering fraud conducted by a person purporting to be a vendor, client or employee.
Our customizable crime insurance can be added to an Intact Insurance commercial property policy and is available as a standalone policy for a more specialized coverage.
Something to think about
In 2018, 55% of Canadian companies experienced economic crime in the previous 24 months, compared to 37% in 2016.
PricewaterhouseCoopers, Global Economic Crime and Fraud Survey 2018.
Drones are becoming an increasingly common feature of business for surveying purposes, aerial photography, inspection, farming and more.
Commercial drone insurance covers damage to and loss of the drone, ground station equipment and drone-mounted devices such as cameras, and spare parts.
No matter the size or industry you’re in, talk to a broker about what you need to protect your business from the unexpected.