Manage your policy and information directly with our self-serve options.
Haven't set up your account?
Quickly pay your invoice online using our secure payment system.
Manage on the go, download the BrokerLink Insurance App
Get reliable property insurance coverage tailored for you by BrokerLink.
Whether you run a retail store, office, warehouse or mixed-use commercial space, property insurance should be near the top of your list of policies to have for your business, as it can help you recover after your business experiences unexpected damage or disruption. Property losses for Canadian businesses are becoming both more frequent and more expensive, as severe weather events like hail and flooding pushed insured commercial losses above $1.7 billion in 2024, marking the highest amount in almost a decade.
At BrokerLink, our expert business insurance brokers are committed to helping Canadian business owners like you find the best insurance solutions. Contact BrokerLink today for your free insurance quote.
BrokerLink compares rates from a wide range of providers, ensuring you get the best deals available.
Commercial property insurance is a type of business insurance that helps cover damage or loss caused by insured events like fire, theft, vandalism and certain types of water or weather damage to the physical property your business owns or is responsible for. These can include the buildings you own or lease, along with your equipment and tools, inventory, furniture, fixtures and even signage that you store on your property.
In addition, this coverage can also help you recover if a covered loss disrupts your normal operations, as it’s often paired with business interruption coverage. This coverage may help offset your lost income and ongoing expenses during a temporary closure while any repairs are completed.
From small owner-operated shops to larger commercial operations with multiple locations, BrokerLink helps businesses of all sizes across Canada protect themselves from property damage and loss.
Commercial property insurance can be especially important if your business operates from a physical location, such as:
Retail stores
Restaurants or cafes
Construction companies
Professional offices
Warehouses
Medical and dental clinics
Commercial landlords
Hospitality businesses
Home-based businesses
View More
Property damage can happen without much warning and even relatively common incidents can lead to large repair or replacement costs. A fire, burst pipe, break-in or severe storm can damage your building, equipment or inventory and force your business to slow down or shut down while repairs are made. According to Public Safety Canada, flooding alone is the most common and costly natural disaster in Canada, causing an estimated $1.5 billion in damage each year.
While business property insurance isn’t legally required in Canada, it’s often expected. Lenders and landlords may require it as a condition of financing or commercial lease. Without it, you may need to pay for repairs or replacements and other related costs out of pocket, which can put significant strain on your cash flow. With the right coverage, property insurance can help cover repair and replacement costs so your business can resume operations after an unexpected loss.
Commercial property insurance is what protects your physical space and the assets inside it. It usually covers the following:
Building coverage
Contents and equipment coverage
Business interruption coverage
Debris removal and cleanup
This covers damage to the structure of your commercial property if you own it or to parts of a leased space you’re responsible for under your lease. This can include walls, floors, roofs and permanently installed systems like wiring or plumbing.
This applies to the items your business uses to operate, such as equipment, tools, machinery, furniture and inventory. If these items are damaged or destroyed by a covered event, the policy can help cover repair or replacement costs.
This coverage helps replace lost income if your business has to pause operations due to insured property damage. It can also help cover ongoing expenses like rent and payroll while repairs are being completed.
After a covered loss, there are often costs associated with cleanup and debris removal before repairs can begin. Property insurance may help cover these expenses so recovery can move forward.
Let us be your resource for all things property business insurance
33290+ Reviews
Average rating of 4.7
Prompt, helpful with advice and finding the right insurance for my small business.
"I had a wonderful experience with Broker's intact at the Calgary branch of BrokerLink. They were incredibly patient and took the time to explain the differences between my old policy and the new one...
The people I have dealt with are always very helpful and quick with answers to my questions and/or changes to my policy.
Fast, efficient, knowledgeable service. Helpful staff.
Everything went perfectly including prompt follow up.
If you need a broker, this is the best place to deal with! Amazing staff!!
Very fast and effective service. Was insured within 24 hours of initial call. Fantastic service.
Friendly staff very quick turnaround with assistance anytime I’ve ever needed it. I feel very well taken care of by my insurance company.
My experience with broker link has been very positive one of the best experiences I've actually ever had with the insurance company my representative was very knowledgeable very understanding and I wo...
Excellent service, quick, efficient, and professional. Highly recommended.
What a wonderful place of friendly workers always with smiles and happy to help. She sure did wonders on savings me and my hubby on our house and garage insurances next is our vehicles in a couple o...
Your price for my insurance is the best overall and the service for handling my problem was great.. I am a very satisfied customer and I recommend Broker Link with anyone.
Friendly, hassle free service. I'm impressed. Would highly recommend.
Omg... 10 out of 10.. in customer service, helpful and friendly. I would highly recommend this company for anybody's insurance purposes.
Lovely service, great communication and very helpful!!
insurance companies
We shop among Canada’s leading insurance companies to offer you a range of options.
customers
Trusted by Canadians to protect what matters to you for more than 30 years.
employees
Ready-to-serve insurance specialists for your needs.
What you pay for property insurance depends on how your building is set up, where it’s located and how your business operates. As such, two businesses on the same street can pay very different insurance premiums.
Businesses located in cities with elevated crime rates, such as Prince Albert, Woodstock or Prince George, may see higher premiums, as well as if they’re located in severe weather-prone cities, like Calgary or Toronto. Your location shapes the types of losses your property is likely to face and how likely they are to occur.
Insurers look at the size, age and construction of a business’s property, including the roof condition and electrical systems. The condition of the building helps determine how much it will cost to repair or rebuild after a loss. Not to mention that rebuild costs have also been climbing, with non-residential construction costs increasing about 4.2% year over year, raising the costs to repair or replace commercial property.
The type of business operating can affect how losses may happen. For instance, a quiet office would likely present different risks than a restaurant, warehouse or medical clinic. Insurers consider things like equipment, foot traffic, inventory and how the space is used day to day, which means that businesses with higher activity levels or specialized equipment are more likely to see higher premiums.
Installing sprinkler systems, monitored alarms and security measures, as well as improving maintenance practices, can lower your business’s risk of theft or fire damage, thus helping to lower your insurance premiums.
Choosing higher policy limits mean the insurer is taking on more risk, which usually increases your premiums. And if you choose to add any optional coverages, like overland water, sewer backup, earthquake or equipment breakdown, while they do tend to add to the overall cost, you’ll also have more protection.
A business with few or no property claims over several years is generally seen as lower risk and may face smaller or no increases at renewal. On the other hand, a history of multiple claims or a single large loss like a major fire or water event, often leads to higher premiums or tighter coverage terms at renewal.
If you’re looking to save on commercial property insurance, you’re in luck. The Insurance Bureau of Canada (IBC) notes that right now is a good time to review limits and coverage. The Canadian commercial insurance market is relatively competitive, with the average commercial insurance rates in Canada declining by about 3% in early 2025.
The IBC points out that some businesses are still carrying reduced protection that they purchased during a harder market, even though pricing has improved, so in some cases, it may be possible to strengthen coverage without paying more overall.
If you’re looking to manage your business insurance costs at renewal without reducing coverage, here are a few steps to consider:
Bundling your property insurance with other policies like general liability coverage, business interruption and commercial auto insurance under one policy with the same insurer can often reduce your overall costs for each.
Businesses with few or no recent property claims are generally seen as lower risk than those with multiple losses on file. Over time, going longer without a claim can help keep your premiums more stable at renewal.
Taking steps like maintaining your roof, updating electrical systems, installing monitored alarms or adding sprinklers can help lower your overall risk as well as your premiums over time.
Choosing a higher deductible can help lower your annual premiums. That said, you should only do so if it’s an amount your business could reasonably cover after a loss.
Many insurers charge extra surcharges when premiums are paid monthly to cover the cost of processing each payment. You can avoid these extra fees by paying your policy in full upfront, keeping your total cost lower.
If you’ve downsized, changed operations or moved equipment off-site, your policy may still reflect old or outdated risks. By reviewing your coverage at least once a year, you can avoid paying for any unnecessary premiums. When you make sure both your coverage and limits reflect what you actually need, it can also help prevent being underinsured at claim time.
Commercial property insurance is often combined with other business coverages to create a more complete protection plan based on how your business operates.
Here are some other essential coverage options that businesses often need:
Commercial general liability insurance
Professional liability insurance
Product liability insurance
Equipment breakdown coverage
Sewer backup coverage
Overland water coverage
Earthquake coverage
Home business insurance
Business auto insurance
Cyber insurance
Tenant legal liability coverage
Employment practices liability insurance
Crime insurance (employee dishonesty)
Directors’ and officers’ liability insurance
Umbrella insurance
When you insure your property, the type of policy will also determine how losses will be paid. Most commercial property policies use actual cash value (ACV) or replacement cost.
With ACV, the insurer looks at what the item was worth at the time of the loss, based on its age, condition and wear. This is known as its depreciated value. For example, if a ten-year-old piece of equipment is damaged, the payout may cover only part of the cost to replace it. Policies written on an actual cash value basis tend to have lower premiums, but you are likely to still need to pay a significant portion yourself to replace it after a loss.
Replacement cost does not factor in depreciation. Instead, it is intended to cover the cost of replacing damaged property with new items of a similar type and quality. As such, you are more likely to have higher premiums than with ACV, but you’ll have more peace of mind knowing you can replace the damaged or lost item more quickly.
A BrokerLink broker can help you decide where each approach fits best.
Choosing a commercial property policy takes some upfront review, especially if your business has changed since you last purchased coverage. To make sure your policy fits how your business operates today, here’s what to focus on:
Start by confirming that your limits reflect current rebuild and replacement costs. If your coverage is based on older values, it may fall short after a loss, leaving you responsible for part of the cost.
Walk through your space and document your equipment, tools, inventory and any upgrades or improvements you’ve paid for. For higher-value items, an appraisal can help ensure values are accurate and defensible.
Many property policies require you to insure property to a set percentage of its value. If your limits are too low, claim payouts can be reduced, even if the loss is only partial.
Standard property policies don’t always include coverage for risks like overland water, sewer backup, earthquakes, equipment breakdown or tools off-site. These coverages are often added separately and should be reviewed carefully.
Documents such as alarm certificates, sprinkler reports, roof inspections and maintenance logs can support underwriting decisions and help avoid delays during a claim.
Review waiting periods and coverage limits to make sure they align with how long it would realistically take your business to reopen after a loss. The IBC notes that many businesses underestimate how long rebuilding and getting back to normal takes. If you’re unsure whether your current coverage is still appropriate, a BrokerLink advisor can review your policy with you and help identify any gaps or adjustments needed.
At BrokerLink, we understand how much time and money go into operating a business and maintaining a commercial property. That’s why we want to help you find the right insurance policy to protect those assets if something unexpected happens.
You can reach us by phone, email or in person at any one of our locations throughout Canada. No matter how you choose to get in touch, a BrokerLink insurance advisor will be happy to assist you. We also encourage you to take advantage of our free online quote tool that can provide you with a competitive insurance quote in minutes.
Find a branch
Check out our wide range of resources, offering valuable information and tools, all in one convenient place.
Check out blog
Service and claims
Visit a branch
About us
Overland water coverage applies when water enters a building from outside, such as during heavy rainfall or flooding. Sewer backup coverage applies when water backs up through drains or sewer systems. These coverages are usually purchased separately.
Co-insurance can create underinsurance when coverage limits do not keep pace with rebuild costs. If required limits are not met, claim payouts can be reduced, even when the damage is only partial.
Earthquake coverage is optional and typically comes with a deductible based on a percentage of the insured building value rather than a flat dollar amount.
Coverage for tools and equipment may be limited once they leave the primary business location. Contractors often need an endorsement to cover items while in transit, on job sites or stored elsewhere.
Clear documentation, such as photos or videos of damage, inventory records, purchase receipts, maintenance logs and repair estimates, can help claims move more efficiently.
Tenant improvements such as flooring, walls, wiring or built-ins are not always covered automatically. If you paid for these upgrades, they typically need to be specifically insured to ensure they are protected after a loss.
A co-insurance penalty is a reduction applied to a claim when property is insured for less than the required percentage of its value, often 80% or 90%. In these cases, the insurer pays only a portion of the loss.
Business interruption coverage usually includes a waiting period, commonly 48 to 72 hours. Income lost during this initial period is generally not covered.
Risk controls such as monitored alarms and sprinkler systems are considered during underwriting. These measures can improve how a property is assessed and may influence pricing, deductibles or renewal terms.
Commercial Auto Insurance
Commercial General Liability Insurance
Event Liability Insurance
Professional Liability Insurance
Cyber Insurance
Farm Insurance
Home Business Insurance
Equipment Breakdown Insurance
Directors & Officers Liability Insurance
Business Interruption Insurance
Course of Construction Insurance