Business Insurance Ontario

Business Leaders

need partners who think

Two-Steps Ahead

Every business owner needs an insurance broker who leaves nothing to chance, wants to save you money – and is willing to share the unvarnished truth.

Which business are you?

Our Business Defender Program will save you on the front end – or the back end.

We came to the conclusion years ago that blind-spots are a lot more costly than flippantly shaving a few dollars off the bottom line. For business owners paying premiums less than, or more than 10k per year – our ‘business defender mindset’ has your back from the moment we meet. The only difference is the depth of the dive.

We Make Your Business
More Appealing to Insurers.

1. We review common insurer pain points.

2. We leverage our risk prevention expertise.

3. We strategically package your submission for a quote.

Schedule a Consultation

You Evaluate Your Options

Your risk exposure as a business, your comfort level and the cost of various coverage options are essentially the three variables that need to be properly balanced. Once you’ve got all the relevant information and facts – you simply need to decide which path is best for you. Something you’ve likely been doing as a business for years.

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Business Insurance Articles

Common Commercial Insurance Categories

Real Estate Developer

Retail Enterprise

Contractor

Manufacturing

Garage Repair Shop

Professional Services

Medical Services

Lawyers & Law Firms

Fleet & Commercial Auto

Wholesaler / Distributor

Landlord / Rented Dwellings

Food & Beverage

Commercial Insurance FAQs & Facts

Business insurance can be confusing, and there are many moving parts. The type of insurance and the amount largely depends on the nature of the work you do, where you are located, what you offer, your staff, revenue, and many other factors.

For your convenience, here are some of the most frequently asked questions and facts about business insurance in Ontario.

Small businesses in Ontario may pay between the ranges of $500-$1,000 but costs will vary immensely depending on the nature of the work you do, your risk exposure, physical location, years of experience, insurance history, revenue, and more. This is typically with a basic CGL policy of a $2,000,000 limit.

With any business, although especially start-ups and small businesses that may not have large budgets to begin with, keeping costs low can be a priority. Many insurance companies will advertise the “lowest possible rates” for business insurance, but that can’t always be a good thing. Yes, saving money is good, but insurance is not a place where you want to cut corners. This can come back to bite you later.

Cheap business insurance can mean you will have less coverage, less security, less support from your brokers, and rates can always rise in the future. This is only the bottom line – after a year or so, your rates may start to go up if there is increased risk and high usage.

It depends. Business insurance is designed to cover different businesses and can come with different options to secure you, your employees, and your assets. It will need to take into account the kind of work you do or the product that you offer, how long you have been in business, your physical location (if any) and your employees.

Commercial insurance can mean a lot of things, especially as no one business is the same as another. Commercial business insurance is known for a number of basic items, but it can be expanded or altered entirely to cover the specifics of a certain commercial operation.

Are you wondering, “Do I need business insurance in Ontario?” and you are the owner of a business – small, large, or just starting up – the answer is: yes. While insurance for business owners is not always necessary, it can be depending on the industry that you operate within, and even if not it is highly recommended to protect yourself, your business, employees, physical location, and more.

Commercial insurance for your business may include –

“Business liability insurance” is a broad term that is used to encapsulate more defined policies which offer financial protection for business owners and corporations against any legal expenses that may come of third-party liability claims. Due to the costly nature of these claims, many businesses cannot afford to spring back from any subsequent losses.

Business liability insurance may include your general CGL or Commercial General Liability Insurance, which covers expenses pertaining to claims that may come of alleged third-party bodily injury or property damage (slips and falls, as an example.)

It also may refer to professional liability insurance, which is specific to businesses that offer professional services. It insures against claims of alleged negligence or errors/failure to perform a promised task.

If your business operates out of a physical location, property insurance can cover your physical business structure as well as any commercial equipment, contents, inventory, appliances, and more from natural disasters, falling objects, theft, and vandalism. Depending on your provider and your location it may not cover certain events such as earthquakes or floods.

Business interruption can be integral for many businesses that run out of a physical location and is especially helpful for retail businesses, manufacturers, etc. This insurance compensates businesses for ongoing wages following an insured event that disallows normal course of businesses, such as loss of income, employee wages, bills, rent, and more.

If your businesses sells a product or operates as a manufacturer, product liability insurance can come in clutch if your business finds itself facing a lawsuit due to the malfunction or breakage of a product it produces. Lawsuits can be hugely expense – which is why many businesses need liability insurance designed to the nature of what they do to spring back from a loss.

Professional businesses may require professional liability insurance, and delivery services may benefit from commercial vehicle or fleet insurance. It all depends on the work you do! Ask your friendly local business insurance brokers about the specifics for your business.