Commercial Property Insurance in British Columbia

How much does commercial property insurance cost in British Columbia?

The following factors are taken into consideration when determining the best policy options for you:

• What sector your business operates in
• Your location in BC
• Type of property
• Square footage
• Annual revenue
• Number of employees
• Any past claims
• Any security measures 

Do I need commercial property insurance if I rent my space?

Yes, even if you rent your commercial space in BC, you likely need commercial property insurance. While your landlord’s insurance typically covers the building itself, it doesn’t protect your business’s property, such as equipment, inventory, or furniture. Commercial property insurance helps safeguard your assets from risks like fire, theft, or vandalism. Additionally, your lease may require you to have insurance to cover any potential damage or liability related to your rented space.

Is business interruption covered by commercial property insurance?

Yes, business interruption is often covered by commercial property insurance, but it typically requires additional coverage or a separate policy. This type of insurance helps replace lost income if your business operations are temporarily halted due to property damage, such as from a fire or natural disaster. It can also cover ongoing expenses like rent and utilities during the downtime.

What’s the difference between replacement cost and actual cash value?

The main difference between replacement cost and actual cash value (ACV) is how compensation for a loss is calculated. Replacement cost covers the full cost to replace an item with a new one of similar kind and quality, without factoring in depreciation. In contrast, actual cash value deducts depreciation, meaning it reimburses you for the item's value at the time of the loss, accounting for age and wear and tear. Replacement cost provides more coverage, while actual cash value typically results in a lower payout.

Why Choose Western Coast Insurance Services?

We’re not just your insurance provider — we’re your partner in protecting what matters most. Here’s why businesses across British Columbia trust us:

• Expert Guidance: Our experienced advisors work closely with you to understand your needs and recommend the best coverage options.
• Comprehensive Coverage: From liability to property insurance, we offer end-to-end solutions for businesses of all sizes.
• Local Expertise: With deep roots in British Columbia, we understand the unique challenges businesses in the region face.