Property Insurance

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Property Insurance for Commercial Spaces

Commercial property insurance serves to protect the physical assets owned by a business, such as commercial buildings, the contents or equipment inside a company’s building or leased premises, a business’s stock and portable items that are transported to different job sites. Commercial property insurance is a First Party Coverage that provides a business with funds to repair or replace a damaged and stolen property. Having commercial property Insurance is vital for all businesses. Having uninsured property damage losses leaves you exposed to detrimental financial loss.

3 Things to Know to Protect Your Commercial Property


  • Broad Form Property Insurance

    this is most comprehensive form of commercial property insurance, which provides insurance for all perils and hazards that aren’t specifically excluded by a policy.

  • Property Damage Deductibles

    given the substantial increase in water damage claims clients must be aware of water damage specific deductibles that are more commonly being incorporated into Commercial Property Policies.

  • Access to the Commercial Property Market

    FCA’s connection to a diverse network of insurance companies ensures clients have access to the most suitable and competitive commercial property coverage.

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Who Needs Commercial Property Insurance?

Any business that owns physical assets, that are either at a fixed location and/or portable, have a need for Commercial Property Coverage, the requirements are unique to each company contingent on the property owned. Work with FCA to ensure your coverage is adequate, you are not at risk of being impacted by hidden exclusions, you have sufficient limits of coverage for portable items, and you have sound organization of equipment schedules.

Fire Insurance

Traditionally, Commercial Property Insurance was referred to simply as Fire Insurance, as exposure to fire damage was the primary exposure associated with this line of insurance for many years. However, with aging infrastructure and more erratic weather patterns, water damage has overtaken fire as the primary culprit of substantial property damage claims. In addition to fire and water, other common property damage exposures include windstorms, hail, vandalism and theft, smoke and a variety of other perils.

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How Much Does Commercial Property Insurance Cost?

Pricing for Commercial Property Insurance is based on the distinct characteristics of the subject of insurance. There are various factors the insurance underwriters consider, such as:

  • Total value of the property
  • Total square footage of the property
  • Age of the building
  • Conditions of the building (any recent renovations, etc)
  • Neighbouring exposures
  • Occupancy
  • Past claims history

For example, a commercial building in a rural area, 25 kilometers from the nearest firehall or fire hydrant is at far greater risk of suffering substantial fire damage, compared to a building in a densely urban area that is 10 meters away from the nearest fire hydrant.

Conversely, a business located in an area with higher crime rates is far more susceptible to theft claims compared to a similar business located in an area where crime rates are low. FCA helps you understand the exposures in your immediate area and make recommendations on how to mitigate potential losses attributed to them.

FCA is Canada’s Commercial Insurance Expert Since 1919

FCA has been providing Canadian companies with commercial insurance since 1919. We have set the industry standard for turnaround time for both new and existing clients. We pride ourselves in ensuring our clients are receiving the best suite of coverages at a fair price.


Insurance companies need to know the exact physical characteristics of a commercial building in order to accurately rate the property. Your FCA broker will need to know the following to secure appropriate coverage:

  • materials the building is made of
  • approximate year the building was built
  • replacement cost value of the building
  • total square footage of the premises
  • the building’s mechanical systems
  • occupancies of the tenants inside the building
  • neighboring exposures
  • dates the building was last update or renovated
  • property’s crime and fire protection provisions

Commercial Property Floater coverage is needed to protect your equipment regardless of its location.

Similar to property, your FCA broker requires specific information to obtain appropriate coverage including: the year, make, model, value, and description of use.

In the event of a claim, you’ll need to provide your broker with a breakdown of the incident, time and date the damage was discovered. This should also include a description of what peril triggered the damage and the property that was involved in the loss.

These details will be provided to the insurance company and a professional adjuster is assigned to discuss the incident further. As the claim progresses towards a settlement it is important to remember that your FCA broker is with you every step of the way, to advocate on your behalf and answer any questions you have during this difficult time.

FCA has long-standing relationships with its insurance partners to provide clients with fair and expedient resolutions of commercial property claims.

Yes, we understand business owners may be involved in a variety of industries and work to ensure all clients’ exposures can be covered, whatever they may be. Whether you have a standard commercial office building or a large manufacturing facility, FCA will find a solution for your coverage needs.

Why Choose FCA Insurance?

Ease of Doing Business

We know insurance, and we love helping companies purchase coverages that suits their unique industry and business needs.

Trusted by Insurance Markets

Outstanding relationships with all of the most reputable insurance markets in the industry, giving you the power of choice.

Insurance is What We Do

Our industry-leading team boasts eighty full-time dedicated insurance professionals with expansive knowledge across various industries.


Laura does the work to get us the best prices with the best coverage.  She also keeps us abreast of the new types of insurance that a business such as ours might need.  Her yearly renewal visit is comprehensive to say the least, but when she leaves, we all understand the exact nature of each and every policy our business has.


FCA covers us for all our business requirements, from equipment to liability, property, builds and everything in-between. Errol Williams is so patient and helpful; I am always confident that we are getting the best possible coverage at a competitive rate. Always the best service!


Jamie and his team have been great to deal with, providing transparent advice and excellent service!


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Our mission is to make insurance accessible. We put you in control of your insurance experience. FCA informs and empowers you, so you can choose amongst robust options, confident in the value of your protection and in the broad reach of your advocates.

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