What is Commercial Property Insurance?
Running a business in California means navigating a wide range of potential risks. From fires and floods to vandalism and break-ins, even one unexpected event can cause major setbacks. That’s where commercial property insurance comes in.
Commercial property insurance is a type of business coverage that protects physical assets like buildings, inventory, furnishings, and equipment. It's designed to help California businesses recover from property-related losses quickly and efficiently, minimizing disruptions to daily operations.
For example, if a fire damages your storefront in Whitby or a break-in results in stolen equipment from your Oshawa warehouse, commercial property insurance ensures you’re not left to deal with the costs alone.
Commercial property insurance in California typically covers:
- Fire and smoke damage
- Weather-related damage (wind, hail, lightning)
- Theft or vandalism
- Water damage (from burst pipes, for example)
- Equipment failure
- Business interruption losses (optional)
Because California businesses range from boutique retailers to large industrial facilities, choosing the right policy is key. With commercial building insurance from Petley-Hare, your coverage is personalized to your location, property value, and industry.
Coverage Options for Your Business Property
A one-size-fits-all policy doesn’t work for business property insurance. That’s why we offer customizable options to suit your unique needs. Here are the key coverage types included in most business property insurance packages in California:
Building Coverage
Whether you own or lease your commercial space, this protects the structure itself against perils like fire, water damage, vandalism, and severe weather. This is essential for protecting your long-term investment.
Contents Coverage
Covers everything inside your building, such as inventory, electronics, tools, furniture, and fixtures. If your restaurant freezer breaks down or your real estate office computers are damaged, this helps you recover the costs.
Business Interruption Insurance
When a covered event forces you to temporarily close or suspend operations, this coverage helps replace lost income, pays ongoing expenses, such as rent and payroll, and assists in getting you back up and running.
Equipment Breakdown Coverage
If critical systems like HVAC, refrigeration units, or commercial boilers break down due to a mechanical or electrical failure, this coverage helps repair or replace them.
Crime Insurance
Protects your business from losses related to theft, burglary, robbery, and even employee dishonesty. Especially important for businesses handling cash or valuable goods.
Flood and Earthquake Add-Ons
Standard property insurance often excludes flood and earthquake damage. These can be added as optional coverage for properties in high-risk areas.
Whether you're looking for commercial building insurance in California, industrial property insurance, or coverage tailored to your home-based business, we help you design a policy that works for you today and tomorrow.
Update your current policy or start a quote today.
Commercial Property Insurance for Different Industries
Different industries face different property risks. That’s why we offer customized coverage options designed for your business sector. Here's how we tailor California commercial property insurance to meet specific needs:
Commercial Property Insurance for Restaurants
In the restaurant business, even a small issue can shut down operations and lead to big losses. Grease fires, freezer malfunctions, and power outages can impact both your space and your reputation.
Our tailored restaurant insurance protects:
- Kitchens and cooking equipment
- Freezers and fridges
- Stocked food and beverages
- Dining area furnishings and POS systems
- Business income during closure due to fire, water damage, or other events
If a fire damages your kitchen, your policy helps with repairs and covers lost income during downtime. It’s peace of mind served with every policy.
Commercial Property Insurance for Real Estate Agencies
Real estate offices might not seem high risk, but they often contain sensitive documents, expensive electronics, and client-facing spaces.
Coverage for agencies includes:
- Office computers, desks, chairs, and fixtures
- Paper records and client documentation
- Signage and marketing displays
- Loss of income if the office is temporarily unusable
For agencies with multiple locations or home offices, our policies are built to flex as you grow.
Commercial Property Insurance for Warehouses
Warehouses are often packed with valuable inventory and equipment. Fires, floods, and theft can lead to significant financial loss.
Coverage includes:
- Structural damage to the warehouse building
- Replacement cost of stored goods and inventory
- Loading docks, forklifts, and warehouse machinery
- Business interruption and downtime support
We understand logistics operations and warehouse storage risks, and we’re here to help protect your flow of goods and revenue.
Why Choose Progressive for Commercial Property Insurance?
We’re more than just commercial insurance brokers that California businesses call when something goes wrong. We’re a local family business with deep roots and a passion for helping other businesses thrive.
Here’s what makes Progressive different:
- Over 100 Years of Local Expertise: We’ve served California since before Durham Region was called Durham Region. We know the risks, the climate, and the communities you operate in.
- Access to Top Canadian Insurers: We work with Canada’s leading providers to offer you a variety of options. More choice means better pricing, broader coverage, and smarter solutions.
- Personalized, Human-Centred Service: Skip the call centres. Our local teams in Oshawa and Port Perry offer friendly, knowledgeable support.
- Efficient Claims Support: If disaster strikes, we’re here. From the moment you file a claim, we help guide you through every step, quickly and compassionately.
Let’s protect your business the right way. Get a free quote today
Our Commercial Insurance Claims Process
If the worst happens, you want to know you’re in good hands. Here’s how our commercial property insurance claims process works:
Step 1: Submit Claim Details
Send us photos, receipts, incident reports, and any other relevant documents.
Step 2: Adjuster Assigned
Your insurance provider assigns a licensed adjuster to evaluate your claim.
Step 3: Damage Assessment
We help you understand what’s covered and what happens next. If your business suffers a total loss, we’ll be there to walk you through the steps.
Step 4: Repair or Replace
Your provider may cover repairs directly or reimburse you for replacements using approved vendors.
Step 5: Ongoing support
Our dedicated claims team stays with you throughout the process, advocating on your behalf.
Need help now?
Protect Your Business Assets – Get a Quote Today
Your business is your livelihood. Make sure it’s protected with comprehensive commercial property insurance that reflects your needs, location, and goals.
With Progressive, you get:
- Fast, no-obligation quotes
- Local expertise and friendly advice
- Coverage from Canada’s top insurers
A personalized policy that works for you
Commercial Property Insurance FAQs
What does commercial property insurance cover?
It covers your business building and physical assets, such as inventory, equipment, and furnishings. Many policies also include options for business interruption, equipment breakdown, and crime coverage.
How much does it cost in California?
Costs vary based on property size, business type, risk factors, location, and claims history. You can expect to pay more for high-risk industries or urban locations like downtown Toronto.
Is it required by law?
Commercial property insurance isn’t legally required, but landlords and lenders often require it. It also acts as essential financial protection for your business.
What factors affect premiums?
Common factors include:
- Building age and condition
- Business type and risk level
- Security systems in place
- Proximity to fire hydrants/stations
Claims history and deductible chosen
Can I bundle with liability insurance?
Yes! Most businesses choose to bundle property and liability insurance for broader protection. Bundling can save you money and simplify claims.
Who needs commercial property insurance?
Any business with physical assets—from home-based entrepreneurs to warehouse operators—benefits from commercial property insurance. It’s especially vital for those with a storefront, inventory, or high-value equipment.
Ready to protect your livelihood? Start a Quote
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