Commercial Property Insurance

Commercial Property Insurance

Protect Your Building, Gears & Goods

Commercial property insurance also covers your inventory and equipment, in addition to the structures and equipment of your business.
When you rent or lease a building, you must also ensure the business property. If you own the structure, only property insurance is needed. Property insurance covers changes and modifications you make to your workstation, as well as any lighting or storage you install. Commercial property insurance for businesses regardless of size protects you if your property is damaged in an accident.

Factors Affecting The Insurance Cost

Insure You Business Premises

Small businesses are most likely to need business property insurance. Coverage can include four different types:

Inventory, goods, and equipment:

Your commercial property insurance should also cover your intellectual property as well as your furniture, equipment, and inventory.


The owner of the structure may be able to claim the cost of repairing it through their property insurance policy.

Interruptions in business income:

You are covered for this loss with your commercial property insurance, and the coverage is meant to ensure that if your business is temporarily closed by fire, water damage, or other insured disasters, your income and expenses will not be lost. 

Equipment breakdowns:

If your company equipment is damaged by a power surge or mechanical failure, you could lose everything. Extra coverage could prevent that. 

It’s a good idea to connect with the top insurance consultants before starting a commercial property quotation. We at iSmart can assist you in determining the value of your commercial property. Knowing the worth of your inventory and equipment will assist our staff in determining replacement costs — and how much coverage you require — as well as assisting you in locating the finest commercial property insurance available in Alberta. 

The insurance coverage you have for commercial property won’t cover every property damage. You won’t be covered if: 
  • The client tripped over a box and drops their laptop. 
  • Someone in your company rips out a customer’s wall. 
  • Having an accident while delivering to a customer causes your vehicle to be damaged. 
  • The flooding in your inventory was caused by a brook overflowing as a result of heavy rains. 
  • Property damage is something that you or your employees do intentionally. 
Various other commercial insurances can provide comprehensive coverage for your company and protect against these types of losses. 
Those who own equipment, inventory, or furniture for their small businesses can realize insurance benefits. As long as you own the building, you are also covered if there is damage to the structure or if you make additions or upgrades to your space. 
  • Business owners must obtain commercial property insurance. 
  • You should set up your company in a physical location, such as an office or store you own or rent, your garage, or your home. 
  • Owning or leasing equipment or merchandise that has the potential to be stolen or destroyed may require you to take security precautions. 

Commercial property insurance is available for as little as $20 per month for small businesses, but the actual price will depend on the type of business and its setup. To calculate your business property insurance quote, you need to consider the following: 

  • The type of work. 
  • Number of employees. 
  • The province. 
  • Your claims history. 
  • How high you set your limits. 
  • Your work experiences. 

How Can We Help?

Let us help you get the best coverage.