Property Insurance

The Canadian economy is on the rise, and nowhere is this more apparent than Ontario. This province accounts for more of the country’s GDP than any other, hiring millions of workers, pumping billions into the government coffers, and keeping the country functioning. Businesses in this province need comprehensive insurance places to cover them as they grow, helping them to avoid disaster and stay on top.

One of the most essential insurance types is property insurance, which is one of the many types of insurance provided by KASE Insurance. As the name suggests, this type of insurance aims to cover companies against damage to their property, but it extends much further than that and can cover a wealth of different eventualities as requested by the client. Keep reading to learn more about property insurance in Toronto and surrounding regions.

Hand choosing mini wooden house model

What is Property Insurance

The goal of property insurance is to protect a particular property against damage. This cover can be provided in the event of complete destruction, but it may also help to cover the costs of renovations following minor disasters. The type of property insurance policy that you have will dictate how much is covered and to what extent. If you purchase an insurance plan through KASE Insurance then we can discuss this with you in advance and ensure you get what you need. We provide comprehensive property insurance in Toronto and surrounding areas and work with businesses of all sizes.

Why is Property Insurance so Important

Property insurance is one of the most basic and the most essential insurances. You wouldn’t drive a car that wasn’t insured, and you wouldn’t leave your home uninsured either. If your home was to fall victim to a fire, an earthquake, or some other catastrophic event and it wasn’t insured, then you could stand to lose everything. It’s a scary proposition, but it’s one that you face every day if you’re not insured.

Property insurance works in a similar way, with the goal being to provide cover to business properties and other properties. Business properties run a greater risk than residential properties when it comes to accidental damage, fire damage, and other common types of damage, making property insurance even more essential.

What Does Property Insurance Cover

There are typically two types of cover provided on property insurance policies: open perils and named perils. Open perils include a number of common occurrences and provide cover for all of them, without the policyholder needing to explicitly request them.

The exact cover and the extent of it will depend on the specific policy, but open perils typically include all natural disasters as well as acts of vandalism, arson, and even terrorism. Named perils, on the other hand, have to be mentioned by the policyholder and agreed upon by the insurance company.

There may be extra costs for these, but that depends on the company, the policy, and the perils. Typically, named perils will include fire and explosions, which are often requested by companies that deal with explosive materials. It can also include theft and anything else that the policyholder requests.

Who Needs Property Insurance

All businesses that own bricks and mortar should look into property insurance. This is true whether that building is a warehouse used to store and move goods, or a building that opens its doors to customers on a daily basis. Businesses face a plethora of risks on a daily basis and need extensive insurance policies to cover themselves. Property insurance is one such insurance type, and while it’s not the be all and end all (depending on the type of business, they should also look into errors and omissions insurance, cyber insurance, and more) it is essential.

Property insurance doesn’t need to be expensive and if you purchase through KASE Insurance it won’t be. We provide affordable insurance policies to companies in all sectors, and we have comprehensive policies available for anyone seeking property insurance.

Why go with KASE Insurance

If you need comprehensive property insurance in Toronto, or anywhere else in Ontario, then contact one of the experienced insurance brokers at KASE Insurance and discuss your needs. No two businesses are alike, so no two policies should be alike either. That’s why we focus on tailored plans created to meet the individual needs of all our clients.

Our award winning services are well regarded throughout the Ontario region and we are one of the top ten insurance brokerage firms in the province. Our innovative solutions and customer-centric approach ensures that every need can be met and that every business can be catered for.