SWG Property: Stand-Alone Commercial Property Policy


July 22, 2020

In 2019, Statista reported $5.03 billion in commercial property insurance claims. (1) Whether it’s a home-based office, a leased space, or a bricks-and-mortar outlet, every business owner needs Commercial Property Insurance. Commercial Property covers a business’ building, premises, and other physical assets, including tools, equipment, inventory, and furniture.

No matter how precautious or profitable a business may be, any business owner benefits from having coverage in place so they can replace income lost from damages, theft, vandalism, and business interruption.

Whether it’s a fire that destroys inventory and costly manufacturing equipment, a roof collapse or sudden power outage after a storm, one unfortunate incident can rack up a hefty bill.

A stand-alone Commercial Property Insurance policy helps businesses quickly bounce back from unfortunate events. It can provide immediate access to funds to repair or replace damaged property and/or equipment, while also covering the loss of income incurred by the damage.

SWG Property - Commercial Property

SWG PROPERTY – Commercial Property Liability insurance is designed to cover hard-to-place property accounts. We can accommodate most realty-type risks, from stand-alone rentals and vacant dwellings, to large commercial risks, with an in-house capacity of up to $6,000,000. We can offer participation on a subscription basis.

Coverage highlights:

Broad Form or Named Perils

Replacement Cost

ACV

Dependent on individual risk, construction, occupancy and town grade

Other coverages offered:

Business Interruption, Rental Income

Flood, Earthquake, Sewer Backup

Crime – including Employee Dishonesty & Broad Form Money & Securities

Mechanical Breakdown

Extension packages:

Personal Property of Officers and Employees

Growing Plants, Trees, Shrubs or Flowers in the Open; Limited to $1,000 per plant

Accounts Receivable

Stock Spoilage

Building By-Laws

Inflation Protection

Exhibition Coverage

Automatic Fire Suppression System Recharge Expense

Brands and Labels

Fire Fighting Expenses

New Acquired Locations (30 Days)

Building

Equipment and Stock (Contents)

Debris Removal

Peak Season Increase

Contents Off Premises in the custody of Sales Representatives

Land and Water Pollution Clean Up Expense (Annual Aggregate)

Building Damage by Theft

Extra Expense

Valuable Papers

Off Premises Services Interruption

Electronic Data Processing Equipment and Media

Systems Breakdown Coverage

Fine Arts

Maximum value any one item; Any One Occurrence

Installation Floater

Professional Fees

Exterior Building Glass

Signs

Master Key

Liability:

Most realty type risks are written on a “Premises” type form but full CGLs including Tenant’s Legal Liability are available.

Visit our website for more information.

Content is current as of the date of broadcast and is subject to change without notice.

Source:

  1. https://www.statista.com/statistics/470885/net-claims-incurred-commercial-property-insurance-canada/