Insurance

A Digital Division of WCL Bauld

Property Owners
For businesses that own or manage property.

PROPERTY OWNERS INSURANCE

PROPERTY PROTECTION TWENTY-FOUR SEVEN

While owning a commercial property and or being a landlord can be both personally and financially rewarding, commercial building owners take on a great deal of risk. Without the right commercial property insurance, owners can face serious financial harm if something goes wrong.

These are some examples of property owner businesses that should be protected:

 

Why do property owners need insurance?

A tenant slips on ice in the parking lot

As a building owner, you are responsible for the maintenance and safety of your premises.  If you neglected or forgot to ensure the parking lot/ common areas were safe during winter and someone was hurt, you will become financially responsible for damages to that individual.

Hail damages your building

Damage caused by acts-of-god like hail or lightning can be significant or even cause a total loss to your building.  Commercial Property Insurance can pay to repair the damages and or in case of a total loss, pay to demolish the old building, prepare the land and rebuild.

You are unable to collect rents after a fire loss

If fire damages one or more units and your tenants are unable to stay in their units, you stand to lose rental income for as long as it takes to repair the units and make them liveable again.

Tenant leaves a window open in winter freezing pipes and causing water damage

Even if you carefully choose your tenants there is still an opportunity for them to cause damage to your building. You need to maintain property coverage to protect your assets.
 

 

TYPES OF INSURANCE

COVERAGE FOR PROPERTY OWNERS

Commercial General Liability

Commercial General Liability Insurance protects your business if you’re found legally liable for injuries or property damage caused by your employees, completed work or accidents on your premises involving visitors or customers, or at your customer’s location.

Commercial Property Insurance

Commercial Property Insurance helps to protect your physical assets such as building, stock, equipment and computers, including equipment removed from your premises (at a client's business, temporarily in transit).

Rental Income Insurance

Rental Income Insurance reimburses you for lost business income (rent) if the premises is damaged by a covered loss (storm, fire) and results in a loss of income or suspension of operations while repairs are made to the property.

Equipment Breakdown

Equipment Breakdown insurance provides coverage for loss due to mechanical or electrical breakdown of nearly any type of equipment, including photocopiers and computers.