Commercial Property

Apply for your policy online

To apply for your policy online, please have the following information available:

  • your selected coverages
  • credit card or bank & routing information to pay for your application deposit
  • insured information and any additional interests

Note: You will not be able to save the application and return to it at a later time, so please have all information available. To see all information required to submit an application, you can see a printed version of the application by downloading the application (link below).

Submit Commercial Property Application

If you'd like to apply by mail, email, or fax, please download

Insuring multiple locations or buildings

If you are applying to insure a commercial property with multiple locations or buildings, you may complete one application and attach supplemental applications as needed. Be sure to add descriptions for each location or building to help identify the structure(s).

The information below is a means to provide a summary of the Commercial Property product. However, please see a Producer to help determine the coverage selections that would meet your needs.

What kind of coverages can be selected for a Dwelling Fire policy?

Building Coverage:What it includes:



Coverage for damage to the building.


Leasehold Interest Coverage

Coverage for the financial loss due to the cancellation of a lease as a result of a damage from a covered peril on the property.


Tenant's Improvements and Betterments

Coverage for Tenants who have made physical changes to their unit and, if damaged, they would sustain a financial loss. This can include items such as cabinetry that are damaged by a covered peril.
Business Personal Property/Household Furnishings:What it includes:


Business Personal Property Coverage

Coverage for your business personal property such as furniture, fixtures, machinery and equipment, all other personal property owned by you and used by the business.


Personal Property of Others Coverage

Coverage for Personal Property of Others that is in your care, custody or control.


Condominium Commercial Unit-Owners Coverage

Coverage for Business Personal Property owned by a unit owner, such as furniture, fixtures, improvements and alterations making up part of the building, machinery and equipment and all other property used in your business.


Condominium Association Coverage

Property coverage based on the association bylaws and ownership of the property. It covers the common property owned jointly by all units owners, including the building(s) and Business Personal Property.


Household Personal Property Coverage

Coverage for Household Furnishings (personal property) in the commercial building.



Coverage for Radio Antennas, Outdoor Signs, etc.
Business Income/Time Element CoverageWhat it includes:


Business Income

Coverage can be written for mercantile, non-manufacturing, rental properties and manufacturing by selecting the appropriate box for the building occupancy. Business Income can be written for:

  1. Net income (Net profit before income taxes); and
  2. Continuing normal operating expenses including payroll.

Rental Value coverage is usually written for the building owner but may also be written to cover a lessee who, under the terms of the lease, is obligated to continue rent payments even though the building is unusable.

  1. For multiple occupancy buildings, indicate the % of the building that each occupies. Indicate the amount of insurance that you are requesting.
  2. The following coinsurance options are available: No Coinsurance, 50%, 60%, 70%, 80%, 90%, 100%, 125%.

Monthly Limitation

If you wish to limit the amount recoverable in any 30 day period for a premium credit, select the monthly limitation desired (fraction of the total coverage amount). (No coinsurance should be entered.)

Business Income See Section 7 below for instructions on selecting additional Business Income/Time Element and payroll coverage options including:

  1. extended period of indemnity to cover loss beyond 60 days.
  2. maximum period of indemnity (no coinsurance should be selected)

Payroll Options

  1. payroll expense exclusion (excludes all payroll expenses)
  2. payroll expense limitation (select # days for limitation)


Extra Expense

Extra Expense

Extra Expense coverage can be provided to cover necessary additional expenses undertaken to minimize the interruption of business.

A limit on loss payment must be selected. The first percentage applies if the period of restoration is less than 30 days. The second percentage applies if the period of restoration is more than 30 but less than 60 days. The third percentage applies if the period of restoration is greater than 60 days.

There are also several optional coverages that can be added to your Commercial Property policy. Some examples below:

Building Coverages:

  • Debris Removal – the cost to remove debris from the property following a covered cause of loss. Note that the policy form provides $25,000 of coverage and the amount you select will be in addition to this amount.
  • Pollutant Cleanup and Removal – the cost to remove pollutants from the property due to a covered cause of loss. Note that the policy form provides $10,000 of coverage and the amount you select will be in addition to this amount.
  • Ordinance or Law – the increased cost to repair or replace to be in compliance with new ordinances or laws.

Condominium Unit-Owners Optional Coverages:

  • Loss Assessment Coverage – the amount assessed individual unit owners due to a covered cause of loss that causes damage to the shared areas.
  • Miscellaneous Real Property – other than business personal property, personal property or household personal property.

Business Income/Time Element Coverage Options:

  • Extended Period of Indemnity, select the number of days beyond 60 that you wish to extend coverage.
  • Maximum Period of Indemnity (suspends co-insurance and has maximum period of indemnity of 4 months).
  • Payroll Expense Limitation - you may elect to exclude payroll expense.

Payroll Expense Exclusion – you may elect to limit coverage for payroll expense to 90 or 180 days. 


Basic Group I (Mandatory) Fire, Lightning, Explosion, Vandalism, Sprinkler Leakage

You may elect to exclude Vandalism and/or Sprinkler Leakage coverage in exchange for a premium credit.

Basic Group II (Optional)Windstorm or Hail, Smoke, Aircraft or Vehicles, Riot or Civil Commotion.
Note: Terrorism coverage is provided for the Fire cause of loss only. You may elect to include terrorism for all other causes of loss for an additional premium.

What deductibles can I select?

Standard deductible is $500. Other deductibles are available as defined in ISO rating rules and manuals.

The deductible for buildings described as vacant is 5% of the amount of insurance.

How much insurance can I get for my policy?

The table below represents maximum limits offered by NYPIUA.

Coverage typeConstructionOccupiedSubject to Loss ControlVacant or Unoccupied
Building and Time Element-Rental PropertiesFire Resistive$1,200,000$1,500,000$500,000
Contents and All Other Time ElementFire Resistive$300,000$625,000N/A
Note: Building and time element-Rental Value coverage amounts are combined when computing maximum limits. Contents and all other Time Element coverage amounts are combined when computing maximum limits.

Is there a minimum that might be applied to my policy?

NYPIUA will apply a minimum $100 premium for any Commercial Property policy.

How does NYPIUA rate a Commercial Property policy?

Rating Formula =

Loss Costs Published by the Insurance Services Office (X) Nypiua Loss Cost Multiplier

(X) 0.98 (X) Nypiua Adjustment Factor (X) Amount of Insurance (per 100)

Effective 10/01/11 New Business; Effective 12/01/11 Renewal

Loss Cost Multiplier
All Other Lines1.786

NYPIUA Adjustment Factor
Contents or Retail Type Stores Located in Store-Type Premises, Operating in a Single Location and Owned and Operated by Persons Related by Blood or Affinity 1.152
Real Property of Eleemosynary (Created for Charitable or Benevolent Purposes) Institutions Used Exclusively for Eleemosynary Purposes and the Furnishings and Personal Property Contained Therein 1.152
Apartments or Apartment/Mercantile with 5-8 Dwelling1.248
Apartments or Apartment/Mercantile with More than Eight Dwelling Units1.344
All Others1.248