Which type of loss is NOT typically covered in a basic commercial property policy?

Intentional acts of damage by the owner are not typically covered in a basic commercial property policy. Insurance policies generally operate on the principle of indemnity, which means they aim to restore the insured to their pre-loss condition without allowing them to profit from the loss. When the owner intentionally damages their own property, it contradicts this principle. Insurers often include provisions that explicitly exclude coverage for losses resulting from intentional acts, as such acts are deemed fraudulent and contrary to the spirit of the insurance contract.

On the other hand, theft, vandalism, and water damage from broken pipes can be covered under certain circumstances in a commercial property policy. Coverage for theft might be limited and subject to specific conditions, vandalism is generally included, especially if it occurs after hours, and water damage from broken pipes is typically a legitimate cause for a claim, provided that proper maintenance and procedures were followed prior to the incident.