Commercial Insurance
Whether you’re thinking about starting a new business, are a new business owner, or have been operating a business for years, investing in commercial insurance is crucial for your company’s financial stability. Managing a business is challenging enough without the added stress of potential financial losses from unexpected events. Commercial insurance safeguards you from common risks like property damage, business interruptions, theft, liability, and employee injuries. This ongoing investment can be one of the most vital decisions you make for the longevity and security of your business.
It is important to note that if you use any vehicles for your business operations, you should consider whether you need Commercial Auto Insurance. If you or your employees are involved in an accident while using a vehicle for business purposes, your personal auto insurance policy likely won’t cover the damages, as most policies exclude business use.. Learn more about Commercial Auto Insurance.
Who needs Commercial Insurance?
If you own a company, manage employees, or offer professional services, you need protection against potential lawsuits or damages arising from your business operations. Here are some examples of the types of businesses we insure:
- Electricians, plumbers, landscapers…
- Aestheticians, makeup artists, hair stylists…
- Yoga and dance instructors
- Retail shops and boutiques
- Event planners
- Cleaning and janitorial companies
- Marketing and finance professionals
- Manufacturing
- Coffee shops and bakeries
- Property managers
- Realtors and interior decorators
TYPES OF COVERAGE
Commercial Property Insurance
If you use an office, workspace, storage area, or physical storefront… (read more)
You need to make sure your investment is protected. This policy offers a wide range of coverage for your property and physical assets such as buildings and their contents, equipment and inventory, and even property in transit. In addition, it provides you with business interruption coverage.
Commercial General Liability Insurance
It can take just one accident or claim to put you out of business… (read more)
This insurance offers your business protection against claims, including bodily injury and property damage to third parties arising from your premises, products, and completed operations. It also safeguards you against advertising liability and personal injury to third parties. Prevent an accident from taking away everything you have worked so hard to achieve.
Cyber Liability Insurance
Don’t risk losing customer data, incurring massive fines, or losing your investment…(read more)
This type of policy protects your business in the event of a data breach. If a customer’s personal information is lost, exposed, or stolen by a hacker or other criminal, this policy shields you from liability. It also helps you recover by covering remediation expenses and business interruption losses, enabling you to get back to business swiftly.
Products Liability
As a manufacturer… (read more)
As a manufacturer or vendor of goods, you are held responsible for the products you make and sell to the public. In cases where injury or damage results from the use of your product, your business may be liable for compensation. Our coverage protects your business against claims for bodily injury or property damage.
Professional Liability – Malpractice
If you are a health services or personal-care professional… (read more)
You need to find the right business insurance to protect against claims arising from the delivery of your specific services. Since general liability insurance policies do not offer the protection you need, it makes sense to look into Professional Liability coverage.
Directors and Officers Liability
You have a duty to exercise due diligence in overseeing the management of the organization you serve…(read more)
You are required to act in good faith and in the best interest of the organization. This policy shields against claims for economic damage resulting from alleged errors or omissions in professional duties or failure to provide services, including coverage for libel, slander, and breach of contract. We specialize in identifying industry-specific risks and potential financial losses, ensuring your business remains protected.
Errors and Omissions Liability Insurance
You need protection against financial responsibilities stemming from errors or omissions…(read more)
Professional liability insurance protects businesses or individuals in private practice from client claims alleging inadequate work or negligence. Your business could be held liable if a client alleges that an error or omission, whether by you or an employee, resulted in financial harm. Errors and Omissions Liability Insurance provides coverage for legal expenses and settlement amounts as outlined in the policy.
Realty Insurance
This type of businesses need protection to safeguard against risks that may come from owning or renting property, including loss of rental income due to property damage.
Who Needs Realty Insurance?
If you own a commercial building in Ontario, it should be insured. In fact, any mortgage lender will require you to insure it. And if you rent a building for business, its contents should be insured and you must think about liability issues. The following business people should consider Realty Insurance:
Anyone who owns or rents commercial property
Landlords
People who own or rent offices for business
Retail business owners
Student housing owners
Standard Property Management Insurance Coverage
When it comes to Realty Insurance, everyone’s needs are different. The sort of coverage you require depends on the type of business you own, its operating budget, and many other factors. That’s why it’s important to discuss your needs with an experienced commercial insurance specialist. That said, most companies should consider these options:
- Building and Property Insurance – covers fire, theft, vandalism, storm damage, and other acts of nature. It usually protects your building, fencing, outdoor signs, and may protect landscaping.
- Building Contents Insurance – can cover product inventory and equipment, tools, office equipment, and supplies.
- General Liability Insurance – protects you from damages and lawsuits arising from people injured on your premises.
Anyone who owns or rents commercial property
Landlords
People who own or rent offices for business
Retail business owners
Student housing owners