Insured buildings & contents
Commercial property
Commercial property insurance can cover physical loss to insured property from specified causes. We describe the building accurately in the application and compare the valuation provisions and exclusions in the proposals.
What we check in the terms
- We reconcile the ownership interests and insured locations
- We compare valuation clauses and explain coinsurance conditions
- We examine vacancy restrictions against the building’s current use
- We identify water and earth-movement exclusions and separate coverage needs
Policy conditions to understand
We check the basis of reported rebuilding values separately from purchase price. Lost rental income also needs its own cover assessed alongside the property damage terms.
Information we use for the submission
- Current building use and occupancy
- Alterations and building-system updates
- How the reported rebuilding value was established