Building Insurance

Building insurance protects the owner against financial loss from damage to the physical structure of the building. This includes load-bearing walls, roof, floors, windows, doors, and permanently installed systems for heating, electricity, water and drainage.

This policy is essential for commercial properties as it covers repair or reconstruction costs resulting from perils such as fire, storm, theft or water damage. In multi-unit buildings or shared ownership situations, building insurance is typically mandatory and managed collectively by the owners' association.