Commercial Property

Ensuring the safety and growth of a business is a core concern for any company leader.

In Uganda’s rapidly expanding business landscape, one critical tool for safeguarding business interests is comprehensive commercial property insurance.

What is Commercial Property Insurance?

It’s crucial to understand the importance of commercial property insurance if you own a business.

Commercial property cover provides protection against a variety of unforeseen events that can have devastating consequences for your business.

Commercial property insurance, also known as commercial premises insurance, provides essential protection for your business assets, giving you the peace of mind knowing that you are financially safeguarded in the event of an unexpected catastrophe.

Whether it’s an office building that burns down in a blaze, a construction site damaged by severe weather, or valuable equipment damaged on your premises, having the right commercial property policy in place can mean the difference between swiftly recovering and facing insurmountable financial hardship.

By selecting the appropriate commercial property coverage tailored to your specific needs, you can insure not only the physical structure of your property but also its contents, ensuring that you are adequately prepared for any unforeseen circumstances that may arise.

From natural events like lightning or windstorms to unexpected situations such as vandalism, commercial property insurance can be a lifesaver when the unexpected takes place.

What Does Commercial Property Insurance Cover?

Commercial property insurance covers a wide range of hazards and perils, from fire and natural disasters to vandalism.

While there is the upfront cost of premiums, the value of being properly insured far outweighs the risks of being underinsured or uninsured when disaster strikes.

As a business owner, protecting your commercial property and its contents is very important.

With a GoldStar Commercial Property Insurance policy, you get comprehensive coverage that protects your enterprise against unpredictable, potentially devastating incidents.

Our comprehensive policy ensures utmost protection for your business infrastructure against numerous threats.

Protection Against Perils

Our commercial property insurance coverage safeguards the structures of your buildings against perils such as fire, lightning, vandalism and theft.

Items Inside Premises

GoldStar’s policy protects equipment, machinery, inventory, furniture, fittings and supplies inside the premises, so we truly do have got you covered.

Clean-Up

In the unfortunate event of a disaster, we ensure quick debris removal and clean-up.

Rebuilding Costs

We also fund any additional costs associated with rebuilding or repairing your property back to its original form.

Other Events

Our policy also includes protection against damage from lightning strikes, explosions, and impact from vehicles or falling objects.

In an increasingly unpredictable world, having protection against civil unrest, strikes, vandalism, and severe weather events like cyclones, hurricanes, or windstorms is crucial. Goldstar helps you plan for the worst so you can continue to strive for the best.

Unforeseen Events

We also account for those unforeseen mishaps such as the bursting or overflowing of water tanks, pipes or apparatus, and damage due to mudslides and landslides. Our goal is to manage these risks so you can focus on managing your business.

GoldStar's Commercial Property Insurance Optional Add-Ons

The GoldStar Commercial Property Insurance is very comprehensive, but we offer additional optional risk benefits at an extra cost. This is so you can tailor the policy to best suit your business’s needs and requirements.

Political Violence And Terrorism

Our policy can include Political Violence and Terrorism cover, providing a crucial safety net in uncertain times.

Business Interruption Coverage

Our optional Business Interruption coverage signifies a lifeline, reimbursing for lost income and additional expenses incurred should a covered loss force your business to temporarily cease operations or relocate.

Robbery After Fire

We understand how devastating theft and burglary can be – that’s why we offer cover for robbery and forceful entry into your business premises following a fire outbreak.

Loss Of Rents Coverage

Perhaps your business relies on rental income? Our Loss of Rents Coverage compensates your lost rental income if, due to a covered loss, your property becomes uninhabitable or unusable.

Liability Coverage

Lastly, our optional Liability Coverage protects you against claims for bodily injuries or property damage resulting from accidents on your insured property.

Choose GoldStar's Commercial Property Insurance

The GoldStar Commercial Property Insurance policy is versatile and comprehensive, yet customizable to suit the unique needs of your business. It provides broad business property coverage with the flexibility to add on additional options to ensure your business is fully protected.

Choose GoldStar to help you weather the financial storm resulting from unexpected events relating to one of your most valuable business assets, your commercial property.

In order to make an informed decision you can take a look at the Key Considerations and Exclusions to take note of when choosing GoldStar’s Commercial Property Insurance.

Other types of insurance cover

All Risks Insurance

This is a form of insurance that provides coverage to mainly portable items such as mobile phones, laptops, cameras and the like such as furniture, home appliances etc.

Commercial Property Insurance

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Commercial Property Insurance

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Burglary Insurance

This covers property while contained in the premises be lost or damaged by theft involving entry into or exit from the premises by forcible or violent means.

Fire Loss Insurance

A major accident at a business premises cannot only destroy the assets but also bring the business to a standstill, leading to loss of gross profit.

FAQ’s

How do I cover items that I take away from the home?

You will need contents insurance, sometimes known as all risk cover, for items for which you require cover out with the home. Please provide details of these items at the time of quotation to ensure that the policy provided meets with your requirements.

What is accidental damage cover?

Accidental Damage cover provides protection against costs incurred through damage that you, your family members or visitors may cause to the structure of your Building or to your Contents. Examples of incidents which would be covered under this extension include putting your foot through the loft floor damaging the ceiling below, leaving a tap running leading to water damage or carpet spillages. Such incidents would not be included under a policy taken out to cover Standard Perils only.

Additional charges will apply and in certain circumstances this cover might not be available.

Are items in my garage or shed covered?

Items kept in the garage or garden sheds will be covered under the Contents section of your policy provided you have included their value in the total sum insured declared. Limits may apply to the amount that can be claimed for theft of items taken from outbuildings and additional charges may be made for certain items such as ride on mowers. Cover for motor vehicles and motorcycles is excluded. Please declare your requirements for cover kept in outbuildings at the time of quotation to ensure that the policy provided meets with your requirements.

I live in rental accommodation. Do I still need insurance?

In most cases you will need to arrange cover for your own contents and personal possessions. Please refer to your tenancy agreement to check what, if any cover is provided by your landlord.

What is an excess?

An excess is the amount a policyholder is required to pay towards the cost of any claim. You may be asked to pay this amount to a company that has carried out repairs on behalf of your insurer, or alternatively the sum will be deducted from any settlement received.

Tips:

Goldstar claim process

No matter what your worry is, we’re here to help explain the process, assess your claim fairly and minimize the disruption to you with a transparent claims process.

Contact Us

Plot 38 Kampala Road, Crane Chambers, Kampala

+256 41 4250110

marketing@goldstarinsurance.com