Skip to main content

Insurance Solutions for Commercial Property Owners

Protect Your Investment with Tailored Insurance Coverage

At GSI, we specialise in commercial property insurance solutions designed to protect your investment. Whether you are purchasing a new property or reviewing your current insurance, having the right coverage is crucial to safeguarding your assets against unforeseen risks.

Complete this form to obtain your copy of our Pre-Purchase Commercial Property Insurance Guide, or contact one of our senior commercial brokers:

Steve Wilson | ANZIIF (Snr Assoc) CIP, NZCERTFINSERV
027 880 6832
| steve@gsi.co.nz

Glenn Stone | BBS, QIB, ANZIIF (Snr Assoc), FIBANZ
027 578 6639
| glenn@gsi.co.nz

Why Partner with Us?

Specialised Expertise

Our team has extensive experience in the commercial property insurance sector, ensuring that you receive tailored advice and solutions that fit your unique needs.

Comprehensive Coverage

We provide a wide range of insurance options to protect against the risks you face as a commercial property owner. This includes building, liability, and business interruption coverage.

Personalised Service

Our commitment to personalised service means we will guide you through the insurance process and ensure that your coverage is both adequate and competitively priced.

Personalised Claims Service

Our in-house claims experts will be your advocates with the insurance companies. No need for you to spend hours on the phone, let us take care of it.

Key Insurance Considerations

National Building Standard (NBS) Rating

It's important to ensure your building has an appropriate NBS rating to secure comprehensive insurance coverage. Properties with higher ratings are generally favoured by insurers.

Current Insurance Review

We recommend reviewing the existing insurance coverage for any property you own or are considering purchasing. This includes verifying that valuations are current, survey requirements have been met and that coverage is adequate for your needs.

Business Interruption Insurance

Protect your rental income with business interruption insurance that accurately reflects your property’s earnings and the time it takes to rebuild.

Liability Coverage

It's vital to have sufficient public and statutory liability insurance to protect against potential legal risks.

Additional Insurance Considerations

Replacement vs. Indemnity Value

Understanding the difference between replacement value and indemnity value is crucial, as this can impact your insurance options and costs.

Trustee Liability Insurance

If your property is managed by trustees, this insurance protects the trustees from personal financial loss due to claims arising from their role as trustee.

Impact of Ownership Structure

Whether your property is owned individually, jointly, through a corporation, or in trust, your insurance needs will vary. We can help tailor coverage to ensure all parties are adequately protected.

Leased Properties

Ensure that both landlord and tenant insurance responsibilities are clearly defined and addressed to avoid any gaps in coverage.

Claims Example

The following is a general example intended to provide an overview of what a typical claims scenario and policy response might look like.

Our client owns a large warehouse building that is tenanted by a successful engineering company. A fire breaks out causing significant damage to the property.

Policy Response

Material Damage Policy

The commercial property insurance is triggered by an insured loss under the Material Damage policy. This policy covers accidental physical damage to the building structure.

The insurer agrees to cover the cost of repairing the building, including structural repairs, replacement of damaged fixtures, and any necessary refurbishments.
The policy also covers the cost of removing debris from the site.

Business Interruption Policy

The business interruption policy is triggered by an insured loss under the material damage policy, which prevents the landlord from renting out the space and earning rental income.

The policy covers the loss of rental income for the specified indemnity period, or until the repairs are completed and the property is tenanted, whichever comes first.

Liability Policy

The landlord's public liability policy (sometimes referred to as General or Broadform Liability) is triggered if the fire causes damage to third parties, such as neighboring properties, and the landlord is liable for the loss.

Contact Us Today

Contact Us Today

Understanding and managing the complexities of commercial property insurance can be challenging. That’s why we’re here to help. Contact us today to discuss how we can assist in securing the right insurance coverage for your commercial property. Let us help you to protect what matters most.

Get in touch

Disclaimer: The information and examples provided on this webpage are intended as a preliminary guide only and do not represent legal advice. This information should not be used as a substitute for obtaining comprehensive and personalised insurance advice from your broker or obtaining legal or other professional advice before purchasing a commercial property or finalising your insurance programme.