Anne Young

Account Executive


Joseph Elias

Account Executive

Some landlords leave their commercial insurance to be managed by their tenants. However, this could have disastrous effects. Sums insured may not be insured correctly, tenancy description may be inaccurate or premiums may simply not be paid on time leaving the landlord’s assets exposed. All landlords should be responsible for their own commercial insurance.


Commercial Landlord Insurance

Commercial landlords require certain commercial insurance coverage. The following sections highlight the coverage that should be considered and are generally specified in lease agreements for tenants.


Fire and Perils

This section will cover your business property such as buildings and/ or contents against fire and other perils such as water, storm damage, malicious damage and accidental damage. It also provides automatic cover for removal of debris (clean-up costs associated with damage to a property). Check to ensure the automatic removal of debris limit provided by the insurer is adequate for your situation.


Business Interruption

This section covers your loss of rent. Most insurers will offer you 12 months loss of rent cover following a loss. However, depending on the size of your building, the type of construction (e.g. if asbestos is present it may require more construction time) and location, you may need to consider 18 or even 24 months loss of rent cover in your commercial landlord insurance.



The concern for most landlords tends to be the external glass ona building as it is generally the most expensive. Some landlords allow the tenant under the lease agreement to insure the glass. This allows the tenant to also cover any signage they may have put on the glass (e.g. retail shops) and insure, under the same section, all internal glass which the landlord may have or the tenant may bring with them as part of their tenancy.



Many owners will question why burglary is needed to cover a building consisting of four walls. In our experience, property owners do experience burglary claims and this section should be considered. For example, copper piping in factories when copper shortages exist in the market is extremely attractive for thieves, or nostalgic signs outside milk bars and older establishments.


Property Owners Liability

A tenant who purchases liability cover in a rented property does so to protect the business activities of that business. It does not cover the landlord for his liability as an owner of the premise. Landlords must ensure they have their own property owner’s coverage in case incidents arise from their property.


The level of cover you will need as a property owner will depend on a number of factors, including the type of commercial property. As a minimum, we recommend no one should insure below $10,000,000.


If your building is part of a commercial body corporate insurance, you may wish to review the loss of rent and property owner’s liability cover in relation to your unit.


Machinery Breakdown

This section covers sudden and unforseen loss to your plant and machinery.
You may wish to consider this cover where you have large machinery such as air conditioning units on office buildings, manufacturing, factories and warehousing.

What can go wrong?

A milk bar owner in Carlton, Victoria had a Milk Bar sign dating back to the 1950’s outside his shop. Whilst in the process of new tenants moving into the building, it was noticed that the sign had been sawn off overnight. The insurer paid $6500 for a replacement.



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