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What is Business Insurance?

It’s generally a good idea to speak to a Licensed Insurance Professional that can help you define exactly what type of insurance and how much, you need. That’s where we come in; we can connect you with the right Professional and get you the coverage you need at the right price.

See Also:

Commercial General Liability
Errors & Omissions Insurance
Professional Liability
Malpractice Insurance
Business Interruption Insurance
Product Liability Insurance
Business Cyber Risk Insurance
Business Data Breach Coverage
Business Building Insurance
Office & Contents Insurance
Business Laptop & Equipment Coverage
Business Legal Protection Insurance
Commercial Auto Insurance

Business Insurance

It’s generally a good idea to speak to a Licensed Insurance Professional that can help you define exactly what type of insurance and how much, you need. That’s where we come in; we can connect you with the right Professional and get you the coverage you need at the right price.

Accidents do happen, outside of your control despite your best efforts. You need coverage in case your business customer suffers a loss or has an injury because of your business operations or products. No business owner or manager likes getting sued, despite how expensive lawsuits are these days the damage to your business’s reputation will also affect your bottom line.

Getting the right Business Insurance Coverage can be a daunting experience, whether you’re a veteran business owner or a new entrepreneur. We’re here to help you find the right coverage at the right price in the most convenient way possible.

 

Business Insurance Frequently Asked Questions

Business Insurance In Canada is usually purchased by all businesses big and small. Every business is exposed to a variety of risks even when your business is not doing anything intentionally wrong.

Do I Need Business Insurance?

Businesses big and small should buy Insurance whether your business operation is a retail store or a consulting agency. Coverages like Commercial General Liability insurance protect your business from a loss if it’s found legally liable for any bodily injuries or property damage. That’s why it’s so important to make sure you have the right type of coverage for your business depending on its operations.

How Much Do I Need?

It depends on the nature and size of your business; you may need more than the minimum level of coverage. By going online and using the CoverMarket Get A Quote app as well as speaking to a licensed Insurance Professional you can find out exactly how much coverage your business requires.

Is Business Insurance Required by Law?

Generally, Business Insurance is not compulsory under Canadian law, it is required by your client contracts, and most companies are required to have some level of business insurance by their regulator, association or governing body. It’s generally best to have some degree of business coverage even if your business isn’t required to have any coverage in case you a lawsuit occurs for injury or property damage.

Proof of Insurance Required?

At times you may be required to provide proof that your business has the required insurance coverage. This happens often when your business is contracting with a client or government organization. Generally this is quickly and easily handled by contacting your Insurance Broker and requesting a Certificate of Insurance.

How Do I Compare Quotes?

CoverMarket can run a business insurance quote comparison across a range of insurance companies in Canada and connect you with a Licensed Insurance Professional that can provide tailored advice to find the insurance policy that fits your business needs at an acceptable price.

Commercial General Liability Coverage Features

Typical Business Insurance coverages include:

  • Bodily injury to third parties
  • Property damage to third parties
  • Commercial General Liability
  • Errors & Omissions
  • Office Contents Coverage
  • Equipment & Technology Coverage
  • Products liability
  • Completed Operations
  • Tenants Legal Liability

This is just a short summary and can be tailored to your business needs by starting the quote process.

Big or small your business is at risk. Protect your business from lawsuits caused by accidents on your business premises or day to day operations and products.

Number of Legal Disputes Increasing

A survey of lawyers conducted by leading Canadian business Advisory firm GrantThornton on whether they expect a change in the volume of legal disputes in 2018:

“54% of lawyers expect the number of legal disputes in which they are involved to increase in the next year while only 11% of laywers predict a decline in litigation” – GrantThornton 2018 Litigation Survey Report

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