Get a quote

×

Join Our Distribution List Today!



×
Need help managing your business risks during COVID-19? – CLICK HERE FOR INFO YOU CAN USE
ALIGNED Insurance

Call Toll Free
1-866-287-0448

Excess Property Insurance

ALIGNED - CLICK HERE to get a FREE insurance quote now - Header - June 2021
Want insurance? Click HERE to get a FREE QUOTE!

For organizations with large and complex properties, standard commercial property insurance policy limits may not address the financial exposures of a potential loss due to peril. For those clients, ALIGNED is proud to offer excess property insurance to provide you with comprehensive protection for your property.

What Type of Properties can Non-Standard Property Insurance Cover?

The following are examples of clients that typically need excess property insurance coverage:

  • Apartments & Condominiums
  • Business & Financial Services
  • Casinos
  • Clinics, Medical Offices, Healthcare Facilities & Hospitals
  • Communications & Telecommunications
  • Educational Institutions, Schools, Colleges & Universities
  • Hospitality, Hotels, Motels & Resorts
  • Life Science
  • Long-term Care Facilities, Assisted Living Programs, Nursing Homes
  • Manufacturing
  • Municipalities & Cities
  • Office Buildings
  • Public Entities & Utilities
  • Real Estate Development & Construction Companies
  • Restaurants
  • Retailers
  • Shopping Centers, Malls & Strip Malls
  • Technology Firms

What is Excess Property Insurance and How does it Work?

Excess Property Insurance
Looking for Excess Property Insurance in Canada? Contact us HERE to get an online quote now!

Commercial Property Insurance policies will typically cover an insured whose property experiences a peril such as a fire, flooding, sewage backup, earthquake, water damage, windstorm, theft, vandalism and others. 

For owners and tenants of commercial properties, this means coverage for repair or replacement costs for property such as:

  • Buildings and structures
  • Upgrades and renovations to rented offices and units
  • Machinery, equipment and tools
  • Employee property
  • Office equipment such as phones, computers, printers
  • Office supplies
  • Furniture, desks, filing cabinets, chairs
  • Stock or inventory
  • Business records
  • Cash, financial instruments 
  • Other assets

For organizations with property values that far exceed the average business or their primary insurers capacity, the costs to repair or replace their property will be greater than the limit of a standard commercial property policy.

With excess property insurance, once the underlying commercial property policy is exhausted, the excess insurance policy kicks in to cover the remaining costs of a claim.

Excess property insurance is similar to Umbrella Liability Insurance in that both types of policies are added coverage that can be applied once an underlying policy’s limits have been reached by a claim, however, Umbrella coverage can be purchased for several different policies. 

Coverages Related to Excess Property Insurance

If you’re considering excess property insurance, you may also need one or more of the following coverages:

Extra Expense Insurance 

Business Interruption Insurance 

Directors & Officers Insurance 

Equipment Breakdown Insurance 

Get ALIGNED with Excess Property Insurance from a Company that Specializes in Insurance for Businesses.

Commercial insurance is all we do. We’ve built relationships with Canada’s top insurance companies over the years and are able to insure clients with large and complex risks. 

Contact an ALIGNED advocate to discuss the policy limits that are right for you and get a free quote on excess property insurance in minutes or get started right away by using our free online quote request tool.

Related Articles

Excess Liability Insurance

Excess Errors and Omissions Insurance for Lawyers

Bikini Deductible

Umbrella Liability Insurance

Difference Between CGL Umbrella Insurance in Canada

It’s time to get insurance value and choice aligned. Want Canadian business insurance that aligns with your bottom line? We can help. 365. Call us toll-free at 1-866-287-0448 or click to Get a Quote!

We’re ALIGNED across Canada. The ALIGNED Insurance National Operations Centre in Cambridge, Ontario supports our Toronto, Calgary and Vancouver offices. Our industry peers consistently recognize us as one of Canada’s best insurance teams. 100% Canadian-owned, we are super proud to be one of the fastest-growing insurance brokerages in the country.

We deliver e-news you can use. Get practical business insurance insights in your inbox every month. 19,000+ people subscribe to our free ALIGNMENT Matters e-news. Just click the JOIN OUR DISTRIBUTION LIST button – at the bottom of our homepage – to get connected.

365 | Get ALIGNED. Every day, Canadian business leaders read our insurance insights. Find us on LinkedIn, TwitterFacebookInstagram and YouTube.

Leave a Reply

Your email address will not be published. Required fields are marked *

CLICK HERE TO GET A BUSINESS INSURANCE QUOTE NOW