Commercial strata insurance for business property

Mercantile Insurance Brokers assists with commercial strata insurance enquiries for industrial, office, retail and mixed-use property. Insurance terms vary between insurers and from one property to another. The policy wording, schedule and endorsements determine the cover that applies.

No commission. Broker fee only service model. We do not receive insurer commission for this strata broking service; our broker fee is disclosed in the quotation documents.

Our broking work is focused on the insurance placement: gathering property and policy information, presenting the risk to insurers, comparing available terms and explaining material differences in the documents received.

Types of commercial strata property

We can discuss insurance enquiries involving a range of commercial strata property, including:

• industrial units, warehouses and business parks
• office buildings and professional suites
• retail premises and neighbourhood centres
• mixed-use commercial and residential property
• specialist commercial buildings where tenant activities or building features affect insurer appetite

Insurance sections that may be available

Depending on the insurer, policy wording and options selected, a commercial strata policy may include some of the following:

• Property damage: insured buildings and other property defined in the wording and schedule, subject to the policy terms.
• Legal liability: cover for specified claims alleging injury or property damage, subject to the insured events, limit, exclusions and conditions.
• Catastrophe and weather events: availability and terms for events such as flood or other catastrophe losses vary by insurer and property. Check the schedule, definitions, exclusions, sublimits and excesses.
• Machinery breakdown: may be offered for specified equipment where selected and accepted by the insurer.
• Business interruption: may be available for a defined insured interest and insured event. The wording sets the trigger, period, limit and any waiting period.
• Other extensions: options such as fidelity, office bearers, voluntary workers or legal expenses may be offered under some products. Availability and scope vary.

Policy details to compare

When reviewing quotations, compare more than the premium. Important policy information may include the insured property description, sums insured, limits, sublimits, excesses, event definitions, exclusions, conditions, extensions and endorsements. The proposal and schedule should accurately describe the property and its use.

A quotation is not confirmation that cover is in force. Cover begins only when the insurer has accepted the risk and the relevant documents confirm the terms and effective date.

Information that can assist an insurance review

For an initial commercial strata insurance discussion, useful information can include:

• property address and strata plan identifier
• building construction, age, use and occupancy information
• building and common property values and how they were assessed
• current policy schedule, wording and endorsements
• claims history and any risk information requested by insurers
• details of requested limits, options or changes to the existing policy

Insurers may request further information before deciding whether to offer terms. Any premium, acceptance or specific cover can only be confirmed by the insurer’s quotation and policy documents.

Commercial strata insurance quote request

Use the form below to send an enquiry. Please avoid sending sensitive personal information unless it is required for the insurance enquiry.