Business Personal Property
Select a limit for furniture, equipment, and stock. The contents limit can be set to zero when this protection is not needed.
Commercial Property Insurance
Coverage for eligible commercial buildings you own or lease, with optional contents, business income, and other property protections.
Subject to underwriting and availability by jurisdiction. A coverage discussion does not bind insurance.
Commercial Property covers an eligible building against covered damage from events such as fire, storms, theft, and vandalism. You select the building limit and can add contents and income protection to reflect what you own or lease. The policy is designed for a single commercial building, including eligible buildings with multiple tenants.
What the Policy Covers
- Building Coverage
- Insure the eligible building at your selected limit with replacement cost coverage, subject to the policy's covered causes of loss and settlement terms.
Optional Coverage
These options are not automatically included. Availability, limits and additional premiums depend on the selections and terms of the issued policy.
Business Income and Extra Expense
Add an elected dollar limit for covered income loss and extra expense while covered property damage is being repaired.
Water Backup
Add protection for covered backup of sewers, drains, and sumps, with sublimits of $5,000, $10,000, or $25,000.
Ordinance or Law
Increase ordinance or law protection by selecting an uplift of 10%, 25%, or 50% of the building limit.
Who This Coverage Is For
Eligibility depends on the property, its use, location, condition and loss history. Listing a property type here is not a guarantee of acceptance.
Owners and lessees of office, shop, and commercial buildings
Owners of apartment or condominium buildings with separate units
Hotel and motel properties
Strip centers with separate storefronts
Warehouse, factory, and industrial properties
Limits, Deductibles and Important Conditions
- Wind and hail deductibles are a percentage of insured value, subject to a $25,000 minimum that always applies.
- Wind coverage does not apply at an unscheduled location.
- Total insured value cannot exceed $25 million. Buildings built before 1920 require an attestation of renovation to be eligible.
- Roof condition, vacancy, and tenant insurance records can create requirements that must be satisfied before coverage starts.
Where Coverage Is Available
Currently available for eligible risks in the following 15 states and the District of Columbia, subject to underwriting:
- Alaska
- Alabama
- California
- Colorado
- District of Columbia
- Delaware
- Hawaii
- Illinois
- Indiana
- Minnesota
- Nebraska
- Nevada
- Pennsylvania
- South Dakota
- Wisconsin
- Wyoming
Coverage is issued by Corgi Insurance Company (NAIC 17989), an eligible non-admitted surplus lines insurer, and placed through a licensed surplus lines broker. Availability is subject to eligibility and underwriting. Coverage is subject to the issued policy's terms, conditions, limits, deductibles, and exclusions. Surplus lines taxes and applicable fees are additional to premium.
What to Prepare for a Quote
- Building address, use, construction, year built, stories, and square footage
- Roof material, age, and shape, plus renovations and system updates
- Sprinklers, alarms, vacancy, and tenant activities and insurance records
- Requested building and contents values, plus any income protection
- Five years of loss history, prior insurance, mortgagees, and loss payees
FAQ
The policy supports 13 occupancy groups, including office, retail, lodging, industrial, and warehouse uses. Eligible apartments, condominiums, and multi-tenant commercial buildings are also considered. Eligibility depends on the building, occupancy, location, and underwriting details.
No. You choose a business personal property limit, which can be zero. Business income and extra expense protection is optional and has its own elected dollar limit. Review both when selecting coverage.
All-other-perils deductible options range from $2,500 to $100,000. Wind and hail use a percentage of insured value with an unconditional $25,000 minimum, so a lower general property deductible does not reduce that wind minimum.
This product is designed around a single commercial building. Additional unscheduled locations may be added, but wind does not apply there. Review each location with Corgi before assuming a single policy will cover a portfolio.
Some submissions can be priced directly, while others need underwriting review or additional information. A quoted price does not mean coverage has started; any requirements must be satisfied before the policy is bound.
No. Commercial Property addresses covered damage to insured property. Claims from other people for injury or damage to their property require liability coverage, such as the separate offering for eligible apartment owners and shopping-center lessors.
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