Your business insurance includes broad coverage to protect the building and contents at full replacement value. If you own your building, the insurance covers the actual structure, as well as any permanent fittings, fixtures or extensions. The contents refers to stock, equipment, furniture, machinery and, if you don’t own the building, any improvements you make as a tenant.

Back to Top

Here are some examples of property coverages:

• To insure buildings, equipment, stock, contents or all property as defined while situated at the premises stated on the Declarations.

• Locked vehicle warranty
• Vacant, shut down or unoccupied property for more than 30 consecutive days
• Sewer backup, flood or earthquake insurance may be purchased as optional coverage
• Boiler and related machinery (except by ensuing fire) insurance may be purchased as optional coverage
• Theft for furs, jewellery (including costume),watches, precious stones except for the first $1,000
• Property on loan or rent
• Mysterious disappearance or shortage when taking inventory

Back to Top

Replacement cost endorsement broad form

• To amend the basis of settlement under the Commercial Broad Form from Actual Cash Value to Replacement Value. If not replaced or repaired then this endorsement will not apply.

Building by-laws endorsement

• To extend coverage for additional costs which are caused by the enforcement of any by-law, or law which regulates zoning, demolition, repair or construction of the damaged building, providing that the loss to the damaged building was from an insured peril.

Consequential loss endorsement (including Off Premises Service Interruption)

• To extend coverage to include the additional peril of spoilage to the insured's stock due to a change in temperature from an insured loss. Loss or damage must be caused by an insured Peril to the refrigeration or cooling apparatus. Coverage also extends to pick up loss or damage caused by Off Premises interruption of power as long as the cause of loss is an insured peril.

Earthquake endorsement

• To insure loss or damage as a result of an earthquake shock to property insured under the Commercial Broad Form Rider.
• Covers an earthquake shock that occurs only during the policy term and any subsequent shocks occurring within 168 hours shall be covered and considered as one claim.

Flood endorsement

• Adds the Peril of Flood to the Commercial Broad Form Rider.
• Flood means the rising of, the breaking out of, or the overflow of any body of water, whether natural or man made and include waves, tides and tidal waves (water below the surface of the ground that seeps or leaks into the premises is excluded).

Sewer backup endorsement

• Extends the definition of water damage; to include the peril of sewer backup.
• Covers the escape of water from a sewer system or sump pump system (excludes seepage or leakage from natural sources).

Commercial Plus Endorsement

• This endorsement extends coverage under the Commercial Broad Form Rider to include coverages normally found in separate rider forms by placing them on form with preset limits.

Coverage includes: 

• Accounts Receivable
• Brands & Labels
• Building By-laws
• Exterior Signs including Street Clocks, Communication, Towers, Antennae and Satellite Receivers
• Extra Expense
• Fine Arts
• Fire Department Service Charges
• Fire Equipment Recharge
• Glass
• Master Key
• Professional Fees
• Stock Spoilage (Consequential Loss) including Off Premises Power
• Valuable Papers & Records
• Arson Award
• Building Damage by Theft
• Debris Removal
• Exhibitions
• Growing Plants, Trees, Shrubs or Flowers Outside the Building
• Installation Floater
• Land & Water Pollution Clean Up
• Money & Securities
• Moulds, Dies & Patterns
• Peak Season Increase
• Personal Property of Officers & Employees
• Roadways, Walkways & Parking Lots
• Newly Acquired Locations (including Building & Contents)
• Property in Transit
• Sale Representative
• Temporary or Unnamed Locations

Back to Top

• Provides Broad Form Property Coverage for exterior signs on or off the premises.
• Coverage is on an Actual Cash Basis.

Back to Top

Broad form

• Provides coverage for specific items that might be mobile and are not covered under the Commercial Broad Form Rider or any other rider.
• Broad Form coverage for Actual Cash Value – the limit is specified for each item insured on schedule and coverage applies on or off premises anywhere in Canada or Continental United States.
• Policy contains a locked vehicle warranty.

Back to Top

Named perils

• To provide coverage for those who transport property that belongs to other people for compensation or to transport their own goods in vehicles that are owned and operated by the insured.
• Theft is included but only theft of the entire shipping package

Back to Top

Broad form

• Provides Broad Form coverage for loss or damage to contractor's equipment which is owned by the insured or for which he is liable including while in transit and while on a carrying conveyance.
• Insured on a Broad Form basis and included General Average and Salvage charges for the Actual Cash Value.

Back to Top

Broad form

• To insure Tools and Equipment (all items usual to the insured’s trade or business including but not limited to saws, spades, drills, ladders, hammers, brushes, drop cloths and ratchets) of the insured that are used on or off premises.
• Coverage is for Actual Cash Value and covers on an all-risk basis anywhere in Canada and the Continental United States (excluding Alaska) (Items should be listed on a 'Schedule').
• Policy contains a locked vehicle warranty.

Back to Top

For more information on Business Property coverage, talk to your agent.