Coverage · FORM CP
So one bad night doesn't become a permanent closure.
Commercial property covers your physical assets — the building you own or the contents you're responsible for — against fire, theft, vandalism, wind, and other covered perils. If you can touch it and lose it, this policy responds.
What's Covered
What this policy responds to
- ✓Building structure you own or are contractually responsible for
- ✓Business personal property: furniture, fixtures, inventory, and equipment
- ✓Tenant improvements you've made to a leased space
- ✓Outdoor signs, fencing, and permanently installed equipment
- ✓Inventory and stock in storage or at a temporary location
- ✓Equipment breakdown — mechanical and electrical failure (with endorsement)
Exclusions
What it typically doesn't cover
- ✗Flooding from external sources (requires separate flood insurance)
- ✗Earthquake damage (available as endorsement in most provinces)
- ✗Normal wear and tear, gradual deterioration, or faulty workmanship
- ✗Vehicles (covered under Commercial Auto)
- ✗Property in transit beyond policy sub-limits without inland marine coverage
Exclusions vary by carrier and can sometimes be addressed with endorsements. Ask your advisor.
Who Needs This
Businesses that typically carry commercial property
Any business that owns or leases a physical space
Retailers, restaurants, and hospitality businesses with significant inventory
Contractors and trades with tools, equipment, and job-site material
Manufacturers with machinery and raw materials on-site
Common Questions
What clients ask before they bind
Replacement cost vs. actual cash value — what's the difference?
Replacement cost pays what it costs to replace the item new. Actual cash value deducts depreciation. Replacement cost coverage costs more but avoids under-insurance surprises at claim time.
What if I work from home?
Standard homeowners policies exclude business property. A commercial property endorsement or separate policy is needed to cover business equipment, inventory, or client records kept at home.
How do I make sure I'm not under-insured?
We do a property valuation at every renewal to ensure your limits keep pace with replacement costs, which have risen sharply in recent years.
Request a Quote
Tell us what you're protecting.
Send us the details and a licensed advisor will reply within one business day with a coverage schedule built specifically for your operation.