Pharmacy Insurance

Yes. Professional indemnity insurance, which should be included in every pharmacy insurance package, covers claims arising from dispensing errors, incorrect advice, drug interaction failures and other professional negligence allegations. This covers both legal defence costs and any settlement or court-awarded damages.

Refrigeration breakdown and the resulting spoilage of temperature-sensitive stock can be covered through a machinery breakdown endorsement with a cold chain spoilage extension. This is not included in a standard property policy and must be specifically added. Given the value of pharmaceutical cold chain stock, this endorsement is strongly recommended.

Yes. Pharmacy insurance covers the loss of stock, cash and medications during a robbery, as well as damage to the premises and fixtures caused during the incident. Insurers typically require specific security measures including time-delay safes for Schedule 8 medications, CCTV, and back-to-base alarm systems.

Pharmacist-administered vaccinations are an expanding area of practice in Australia. Your professional indemnity policy should explicitly cover vaccination services. Most modern pharmacy professional indemnity policies include this, but if you are offering vaccinations, confirm the cover with your broker to ensure there are no exclusions.

Common requirements include a back-to-base monitored alarm, CCTV covering the dispensary and all entry points, time-delay safes for Schedule 8 medications, security screens or barriers at the dispensary counter, and roller shutters on shopfront glass. The specific requirements vary by insurer and location.

Standard pharmacy property insurance does not cover cyber events. However, cyber liability insurance can be added to your package to cover data breach costs, system restoration, regulatory fines and business interruption resulting from a cyber attack on your dispensing software, patient records or point-of-sale systems.

Yes. Multi-site pharmacy groups can be covered under a single program with separate sums insured for each location. This typically provides administrative efficiency and may result in premium savings compared to insuring each pharmacy individually. Shielded regularly arranges multi-location pharmacy insurance programs across our insurer panel.

Commercial property insurance covers a wide range of property types including office buildings, retail shops, warehouses, factories, shopping centres, hotels, motels, restaurants, cafes, medical centres, child care centres, gyms, salons, laundromats, churches, petrol stations, mixed-use developments and more. Whether you own a single tenancy or a multi-storey complex, we tailor cover to match your property.

Premiums vary based on building value, location, construction type, tenant occupation and risk profile. A small retail shop may cost $1,500 to $4,000 per year, a standard office building $3,000 to $10,000, and a large warehouse or industrial property $5,000 to $25,000+. High-risk tenancies (restaurants, manufacturing) attract higher premiums. Request a free quote through Shielded for an accurate indication.

Commercial building insurance covers the physical structure including walls, roof, floors, fixed fixtures, common areas, car parks, fencing and services (electrical, plumbing, HVAC) against fire, storm, flood, impact damage, malicious damage, theft and accidental damage. It typically also covers demolition and removal costs, professional fees (architects, engineers) and compliance with current building codes when rebuilding.

If you own a commercial building and lease it to tenants, you need commercial landlord insurance. This covers the building structure, landlord's contents (common area furnishings, HVAC systems), public liability for common areas, loss of rental income if the building is uninhabitable after an insured event, and plate glass. Your tenants are responsible for insuring their own contents, stock and fit-out.

Loss of rental income (also called business interruption for landlords) provides replacement income if your commercial property becomes uninhabitable after an insured event such as fire, storm or flood. It covers the rental income you would have received during the repair or rebuild period, typically for up to 12 or 24 months. This is essential for property investors who rely on rental returns.

Plate glass cover is usually an optional add-on, not included in the base building policy. It covers the cost of replacing glass shop fronts, windows, doors, display cases and signage glass that is accidentally broken or vandalised. For retail properties with large glass frontages, this is an important cover to include.

Generally, the landlord insures the building structure, common areas and landlord's fixtures. Tenants are responsible for insuring their own contents, stock, fit-out, trade fixtures and their own public liability. Most commercial leases clearly define these responsibilities. As a landlord, ensure your lease requires tenants to hold adequate insurance and provide certificates of currency.

Contact us at Shielded Insurance on 1800 97 98 99 or reach out to your insurer directly. We recommend notifying us as soon as possible after damage occurs, documenting everything with photos, securing the premises to prevent further damage, and keeping records of all emergency repair costs.

We compare quotes from leading Australian commercial property insurers including CGU, QBE, Zurich, Vero, Hollard, Allianz, AIG and others. The best insurer depends on your property type, construction, tenant occupation and risk profile. As brokers, we do the comparison work to find competitive and suitable cover for your property.

Review your policy annually at renewal, or whenever there are significant changes such as new tenants, renovations, extensions, changes in building use, or updated valuations. Building replacement costs increase over time – if your sum insured does not keep pace with construction cost inflation, you risk being underinsured at claim time. We recommend a professional building valuation every 3 to 5 years.