Commercial Property Owners Liability
Safeguard your commercial investments with policies precisely tailored to cover the inherent liability risks of property ownership, ensuring you're protected even in the face of legal challenges.
Get fast, competitive quotes and benefit from reduced broker fees in your first year when you fill out our quote form. Partner with us for comprehensive liability protection that lets you manage your properties with confidence.
What is Commercial Property Owners Liability Insurance?
If you own commercial property, whether freehold or part of a strata, unique liabilities necessitate robust protection. Property Owners Liability insurance safeguards you against risks like injuries or property damage on your premises, ensuring peace of mind in complex ownership structures.
Even if a tenant carries public liability insurance, injuries on your property could still lead to costly legal battles directed at you. A body corporate's public liability insurance only covers common areas, not individual units. Secure your financial safety with dedicated Property Owners Liability insurance that fills these coverage gaps.
How are CBI’s Policies Cheaper & Better?
CBI precisely customises each policy to cut costs without cutting coverage, ensuring you only pay for what you need.
Our expert brokers then negotiate to lower your premiums, delivering top-notch protection at unbeatable prices.
Commercial Property Owners Liability
FAQs
Answering your most frequently asked questions on commercial building insurance.
No, they differ. Public liability insurance generally protects businesses against claims related to injuries or damages that occur on business premises due to business activities. Property owners' liability insurance provides coverage to property owners for claims related to the property, which might not be linked to the business activities of tenants.
Commercial property owners, including those who own retail complexes, office buildings, and industrial properties, especially landlords leasing their properties, need this insurance. It safeguards against claims that tenants' insurance might not cover.
These policies usually cover expenses related to legal fees, medical treatments, and compensation for injuries suffered by third parties on the property, and property damage claims. Common scenarios include accidents like slips and falls or damage from structural failures.
The insurance generally excludes claims from property neglect or inadequate maintenance, intentional damage, routine wear and tear, criminal acts, environmental hazards like asbestos, or employee-related incidents (which are covered under workers' compensation).