What is Commercial Property Insurance?

Operating a business in Ontario means facing risks like fire, water damage, vandalism, or theft. Commercial property insurance protects the physical assets that keep your business running — buildings, inventory, equipment, and furnishings — so an unexpected loss doesn’t put your operations on hold.

For example:

  • A kitchen fire damages your restaurant in Ajax
  • A burst pipe floods your office in Oshawa
  • A break-in at your warehouse results in stolen goods

With Petley-Hare, you’re not facing those costs alone. We’ll help you get back to business fast.

What Commercial Property Insurance in Ontario 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 Ontario 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.

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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 coverage for your business needs. Here are the main coverage types included in most business property insurance packages in Ontario:

  1. Building Coverage

    Owning or leasing a commercial space comes with responsibility. This coverage protects the structure itself against fire, water damage, vandalism, and severe weather. It’s a practical way to secure your investment and keep your business operating safely. Ideal for business owners or landlords investing in commercial real estate.

  2. Contents Coverage

    This insurance coverage includes 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. Your equipment keeps you in business — we make sure you never have to replace it out-of-pocket

  3. Business Interruption Insurance

    Unexpected events can stop operations and affect income. This business interruption coverage replaces lost revenue, helps with ongoing expenses like rent and payroll, and supports your business until it is fully restored.

  4. Equipment Breakdown Coverage

    Standard policies don’t cover internal mechanical or electrical failures. Equipment breakdown insurance steps in when equipment, boilers, or HVAC systems fail due to internal issues — not from external damage. A power surge burns out your production line’s control panel. This policy covers repairs or replacements, ensuring your operations don’t stall. Downtime can be more costly than repairs. We’ll help you protect both your productivity and profit margin.

  5. Crime Insurance

    This coverage protects your business from losses related to theft, burglary, robbery, and even employee dishonesty. It is especially important for businesses handling cash or valuable goods because this coverage protects what matters most.

  6. Flood and Earthquake Add-Ons

    Standard property insurance often excludes flood and earthquake damage. These additional coverage options extend protection for properties in higher-risk areas and help keep your business secure.

Protect What You’ve Built With Petley Hare

At Petley Hare, we don’t just sell policies — we build insurance strategies that grow with your business.

  • Understand your risks — property type, equipment, operations, and exposure.
  • Design your coverage — combine property, liability, and interruption protection.
  • Support you long-term — local claims help, fast renewals, and annual policy reviews.
  • Because insurance should protect more than property — it should protect your progress
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Commercial Property Insurance for Different Industries

Different industries face different property risks. That’s why we offer customized commercial property coverage options designed for your business sector. Here's how we tailor Ontario commercial property insurance to meet specific needs:

Commercial Property Insurance

Commercial Property Insurance for Restaurants

In the restaurant business, even a small issue can cause major loss or damage to your space or equipment. Grease fires, freezer malfunctions, and power outages can impact both your space and your reputation. Our insurance offers protection that keeps your operations running smoothly and helps protect your property when problems arise.

Restaurant Insurance Coverage

  • 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. Our property policy helps insured businesses maintain security for their commercial space, offering support when property insurance protects essential assets from unexpected events.

Real Estate Agency Coverage

  • 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 insurance policies are designed to adapt as your business grows and changes.

Commercial Property Insurance
Commercial Property Insurance

Commercial Property Insurance for Warehouses

Warehouses are often packed with valuable inventory and equipment. Fires, floods, and theft can lead to significant financial loss. Our commercial property insurance provides financial protection for stored goods, machinery, and operations. This insurance protects your business with insurance coverage options that help reduce downtime and recovery costs after loss or damage.

Warehouse Insurance Coverage

  • 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 our insurance products are designed to provide coverage for property and keep your operations running smoothly.

Why Choose PetleyHare for Commercial Property Insurance?

We’re more than just commercial insurance brokers that Ontario 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 PetleyHare different:

  • Over 100 Years of Local Expertise: We’ve served Ontario 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:

Commercial Property Insurance

Step 1: Damage Assessment

Call us and we will 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.

Commercial Property Insurance

Step 2: Submit Claim Details

Send us photos, receipts, incident reports, and any other relevant documents.

Commercial Property Insurance

Step 3: Adjuster Assigned

Your insurance provider assigns a licensed adjuster to evaluate your claim.

Commercial Property Insurance

Step 4: Repair or Replace

Your provider may cover repairs directly or reimburse you for replacements using approved vendors.

Commercial Property Insurance

Step 5: Ongoing support

Our dedicated claims team stays with you throughout the process, advocating on your behalf.

Need help now?

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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 PetleyHare, you get:

  • Fast, no-obligation quotes
  • Local expertise and friendly advice
  • Coverage from Canada’s top insurers

A personalized policy that works for you

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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 commercial property policies also include insurance coverage options for business interruption coverage, equipment breakdown insurance, and crime protection. These additions provide coverage for property that helps your operations recover after unexpected events.

How Much Does Commercial Property Insurance Cost in Ontario?

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. A business owner with a smaller property may qualify for small business insurance savings when the right insurance products are in place.

Is Commercial Property Insurance 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 Commercial Property Insurance Premiums?

Common factors include:

  • Building age and condition
  • Business type and risk level
  • Security systems are 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 commercial general liability insurance for broader protection. Bundling can provide additional coverage, save you money, and simplify claims while keeping both your property and contents under one property policy.

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.

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Commercial Property Insurance Insights