Commercial building insurance in Australia: what each policy covers
23 policies from 16 brands: business packs that insure the building a business owns or occupies, and property owners' policies for landlords of shops, offices and factories, one row per policy, with whether flood and accidental damage are covered, what happens once the building is left empty, and who it is for. Most are sold through brokers; a few can be bought directly. Strata policies for commercial buildings are on the strata page.
Business premises and property owners
| Brand | Policy | Type | Flood | Accidental damage | Left empty | Who it is for | Underwriter | Sold |
|---|---|---|---|---|---|---|---|---|
| AAMI | AAMI Business Insurance (Policy Section 1 - Property damage) | Business property | Included | Optional extra | No cover after 60 days | Australian-based businesses with turnover under $10m a year that have buildings, contents or stock at the premises. | AAI Limited | Direct |
| AIG | AIG SME Business Package | Business property | Not stated | Not stated | Not stated | Small and medium businesses; non-preferred risks include over $10m in assets, north of the 26th parallel, rural/remote locations and asbestos construction. Property Owner is a preferred industry. | AIG Australia Limited | Through a broker |
| Allianz | Allianz Business Insurance Pack | Business property | Optional extra | Included | No cover after 60 days (a few events excepted) | Small and medium businesses; acceptance criteria apply to each cover based on the business and the risks insured. Commercial Property insures business premises, contents and stock; Business Interruption, Theft, Money and Electronic Equipment sections need Commercial Property. | Allianz Australia Insurance Limited | Direct |
| Allstate Underwriting | Allstate Business Insurance (Building and Contents section) | Business property | Not stated | Not stated | No cover after 60 days | Lloyd's underwriters | Through a broker | |
| CGU | CGU Business Pack (Business Insurance) | Business property | Included | Not stated | No cover after 90 days | CGU Australia Pty Ltd | Through a broker | |
| Clover | Clover OneBusiness Pack - Business Building and Contents | Business property | Optional extra | Not stated | No cover after 60 days | Allied World Assurance Company, Ltd (Australia Branch) | Not stated | |
| GIO | GIO Business Protect (Policy Section 1 - Property damage) | Business property | Included | Optional extra | No cover after 60 days | Australian-based businesses with turnover under $10m a year, in occupations GIO accepts, that have buildings, contents or stock at the premises. | AAI Limited | Direct |
| GIO | GIO Retail Business Protect (Policy Section 1 - Property damage) | Business property | Included | Not stated | No cover after 60 days | Australian-based retail, accommodation and food businesses with turnover under $10m a year that have buildings, contents or stock at the premises. | AAI Limited | Direct |
| High Street Underwriting Agency | HSUA Commercial Property | Business property | Not covered | Included | No cover after 90 days | Lloyd's underwriters | Through a broker | |
| Hollard Commercial Insurance | Hollard Commercial Business Insurance (Property Damage cover section) | Business property | Optional extra | Not stated | No cover after 90 days (a few events excepted) | Small to medium Australian businesses, including property owners, wholesale, retail, professional offices, food services and trade contractors, arranged through intermediaries. | The Hollard Insurance Company Pty Ltd | Through a broker |
| NRMA Insurance | NRMA Business Insurance (Section 1 Property) | Business property | Included | Included | No cover after 90 days | Insurance Australia Limited | Direct | |
| QBE | QBE Commercial Property Insurance | Business property | Not stated | Not stated | Not stated | Medium to large businesses across industries, including wholesalers, manufacturers, property owners and multinational placements; smaller businesses with high-value assets by arrangement. | QBE Insurance (Australia) Limited | Through a broker |
| QBE | QBE Small Business Insurance | Business property | Not covered | Included | No cover after 60 days | Small businesses in listed occupations; the page gives trades 'up to 5 employees and under $1 million turnover' and hospitality and retail 'up to 10 employees and $2 million turnover'. Business Buildings and Contents is an optional add-on to the Business Liability base cover. | QBE Insurance (Australia) Limited | Direct |
| Vero | Vero Business Insurance | Business property | Optional extra | Optional extra | No cover after 60 days | Australian-based businesses and not-for-profit organisations operating on an ongoing basis, or commercial property owners; property section covers buildings, contents and stock used by the business (not buildings used only for residential purposes). | AAI Limited | Through a broker |
| Vero | Vero SME Business Insurance (BizCover) | Business property | Optional extra | Not stated | No cover after 60 days | Australian-based businesses and not-for-profit organisations operating on an ongoing basis, or commercial property owners; sold only through brokers or other intermediaries (the policy wording is hosted on BizCover's site). | AAI Limited | Through a broker |
| Zurich | Zurich Business Insurance (Business Pack) | Business property | Not stated | Not stated | No cover after 90 days (a few events excepted) | Australian small-to-medium enterprises (retailers, tradespeople, professional services, hospitality, light manufacturers) wanting one consolidated policy; Property section covers buildings, stock, machinery and contents. | Zurich Australian Insurance Limited | Through a broker |
| Ansvar | Ansvar Commercial Property Owners Insurance | Commercial landlord | Not stated | Included | No cover after 100 days (a few events excepted) | Businesses or individuals who own commercial property, with a location limit of liability for Property Protection and Business Interruption up to $15,000,000; Australian locations only. | Ansvar Insurance Limited | Through a broker |
| CGU | CGU Property Owner Insurance | Commercial landlord | Included | Not stated | No cover after 90 days | Owners of commercial properties (CGU markets the same Business Insurance PDS to property owners). | CGU Australia Pty Ltd | Through a broker |
| Chubb | Chubb Benchmarq Commercial Property Insurance for Real Estate | Commercial landlord | Included, can be removed | Not stated | No cover after 30 days | Real estate industry businesses with revenue or declared values up to AUD $75 million (Benchmarq lower-middle-market range). | Chubb Insurance Australia Limited | Through a broker |
| RACV | RACV Business Insurance for commercial property owners | Commercial landlord | Included | Included | No cover after 90 days | Small businesses and sole traders with fewer than 20 employees and under $5 million annual turnover. | Insurance Australia Limited | Direct |
| Zurich | Zurich Property Insurance | Commercial landlord | Not stated | Not stated | Not stated | Property owners, landlords, and businesses holding significant physical assets on-site. | Zurich Australian Insurance Limited | Through a broker |
| Allianz | Allianz Office Pack | Office pack | Optional extra | Included | No cover after 60 days (a few events excepted) | Allianz Australia Insurance Limited | Not stated | |
| Chubb | Chubb Benchmarq Commercial Property Insurance for Retail | Retail pack | Included, can be removed | Not stated | No cover after 30 days | Retail businesses with revenue or declared values up to AUD $75 million. | Chubb Insurance Australia Limited | Through a broker |
"Not stated" means the documents read for this page did not say, not that the cover is missing. "Left empty" is what the policy says happens once the building has been empty for that many days in a row; the brand's page has the details and the sentence behind each value. The policy's own wording decides every claim.
Deep Almanac is a secondary source and this page is provided for general information and reference. It is not financial, investment, legal, valuation, educational or other professional advice, and it is not a substitute for checking the original source. What each policy covers and who underwrites it are read from each insurer's own documents by hand and re-checked daily, so a change can take a day to appear, and the policy wording you are issued is what applies to you. You are responsible for any decision you or your software makes in reliance on this page. See our terms of use.