Business Building Insurance

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There are a number of different circumstances that can result in serious damage to your building. These circumstances are often extremely difficult to predict and prepare for, and can cause a financial burden that can be difficult for your business to recover from.

What is Business Building Insurance?

Business Building Insurance provides your company with financial protection in the event that your building is damaged or requires structural improvements as a result of flood, fire, earthquake, theft, burglary or storm damage.

Business Building Insurance can help your company survive the unexpected, with minimum losses.

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The Importance of Business Building Insurance:

Australian businesses operate with more risk than most when it comes to natural disasters and extreme weather conditions. The 2015 New South Wales storms resulted in over 30,000 insurance claims, while the Queensland floods of 2011 affected over 5000 homes and businesses, and bushfires in 2012-2013 completely destroyed 33 properties in New South Wales and a further 170 in Tasmania. These natural disasters most often affect business property and assets, and can prove to be costly to recover from.

Business Building Insurance is vital in protecting your business from the unexpected forces of mother nature and other circumstances that can be just as damaging. It provides the peace of mind that comes with knowing that you have the right cover in place.

What Risks May a Business Building Insurance Policy Cover?

Just as every business is unique, so are the risks that they face, and in the case of property damage, these risks can be almost impossible to predict. For example:

  • A supermarket’s sign is detached in a bad storm, damaging the building as it falls. Business Building insurance may cover the costs of repairing damage to the building.
  • A thief smashes several windows to break into a hotel. With a Business Building Insurance policy, costs associated with repairing the windows and any other damage to the building may be covered.
  • A fire starts in an accountant’s office, seriously damaging the building outside and in. As a result, an architect has to be called in to discuss how the building can be repaired. Business Building Insurance may cover the architect’s fees as well as the cost of repairs to the building.
  • A burst water pipe causes a retail store to flood, damaging the building and its fixtures and fittings. Business Building Insurance may cover the costs of the repair.

As a small business owner, the continuing success of your business rests upon your ability to manage, mitigate and transfer risks. It is possible to reduce the risk that you are exposed to by evaluating and taking steps to minimise them, however risk cannot be totally eliminated.

It is therefore imperative to back up your prevention strategies with a comprehensive insurance policy that can fully protect your business.

What Are the Key Things That May Be Covered By a Business Building Insurance Policy?

  • Flood
  • Storm
  • Lightning
  • Fire
  • Explosion
  • Earthquake
  • Tsunami

Who Needs Business Building Insurance?

Your building is your business’s biggest asset and as such, should be protected. If your business owns the building that it operates from, running without an appropriate Business Building Insurance policy in place is a huge risk; particularly in Australia, where the forces of nature can be destructive at times.

No matter what your business does or what industry you’re in, all businesses are susceptible to property damage. From natural catastrophes causing serious damage to business property, to theft and malicious damage from vandals, it’s imperative that your business is fully covered. It is important to accurately value your property and to ensure you are adequately covered.

How PSC Direct works for you

As specialist small business insurance brokers, PSC Direct uses our considerable experience to provide multiple quotes for you. Combining our expertise insuring thousands of other similar businesses with our detailed database of insurers and insurance products; we’re best placed to advise you on the right insurance for your business.

We have strong relationships with the leading underwriting agencies and insurance companies. We can source the most appropriate business insurance policy for you, covering you for what you really need, at the right price.

We can help sole practitioners, small, medium and large businesses protect the businesses you are growing and ensure your assets are covered in the event that disaster strikes.

With our strong relationships to a broad range of highly-rated insurers we are able to advise you on business insurance, professional indemnity insurance, and professional indemnity insurance specifically tailored to meet the risk exposure of your business.

We can also provide advice on a range of additional insurance policies and cover that can affect your business and make sure you have the right insurance at the right price.

72% of Australian businesses fail after experiencing a major loss. 

The right business insurance will ensure you are not one of them.

While good insurance covers you for most things – Professional Indemnity, Professional Liability and Property, great insurance covers you for the specific risks that your business faces. We understand that every business is unique and you need a policy that addresses the specifics. We make sure that when you have a claim that’s out of the ordinary and complicated, you’re covered.