Commercial Business Insurance in Edmonton
As a business owner in Edmonton, it’s important to understand the different types of commercial insurance available and how they can benefit your business.
Commercial insurance can protect your business’s finances and reputation. With the right coverage, you can safeguard your property, assets, and employees from a variety of risks and liabilities.
Access Insurance brokers work with you to tailor your commercial insurance policy, whatever industry you’re in – from commercial real estate and construction to the hospitality sector – you can choose the coverage that best suits your business.
With coverage for everything from property damage to liability claims, home and commercial insurance can give you peace of mind while keeping you focused on growing your business.
What Are the Main Types of Commercial Liability Insurance Offered by Access Insurance?
Access Insurance provides essential business insurance to Edmonton business owners. Below we cover the main types of insurance that we offer.
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Commercial Auto Insurance
When running a business in Edmonton that relies on vehicles, it’s crucial to consider buying commercial auto insurance. Auto insurance protects your business from financial loss involving your company’s vehicles. Commercial auto insurance can cover a variety of situations, such as liability for any damage or injury you cause to others, including collision coverage. With the help of a knowledgeable Access Insurance broker, you can choose the right coverage to fit the specific needs of your business.
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Commercial Property Insurance
Commercial property insurance is an essential protection for businesses to have. With the unpredictable nature of accidents, natural disasters, and unexpected damage, it’s crucial to have a policy in place that protects your commercial assets. This type of insurance provides protection against physical damage to buildings and equipment and provides liability coverage for accidents on your business’ premises. Commercial property insurance typically covers damage caused by fire, vandalism, water damage, and plumbing or electrical systems. In case of an insured loss, commercial property insurance can help your business recover by providing funds to repair or replace damaged property.
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Commercial General Liability (CGL) Insurance
Commercial general liability insurance provides coverage for third-party bodily injury and property damage. If someone is injured on your property, or if their property is damaged, this insurance will protect you from financial losses associated with lawsuits. This type of coverage is especially crucial for businesses that operate in industries where risks are high, such as construction or manufacturing. However, CGL insurance can help protect a business in any industry. CGL Insurance may also cover medical expenses due to someone being injured on your business’ premises. CGL insurance is in place to provide you with a sense of security whatever industry you work in. We are here to help you with the insurance process.
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Professional Liability Insurance
Professional liability insurance (PLI) also called errors and omissions insurance, is designed to protect businesses that offer professional services or advice. Insurance claims typically cover negligence or mistakes that you make that lead to customers suing your business. PLI covers a variety of different claims related to professional services provided by your business. Some of the most common areas of coverage include:
- Professional negligence: This covers claims made against your business due to alleged mistakes, errors, or omissions in the professional services you provide.
- Breach of contract: Claims arising from a breach of contract related to the professional services provided by your business.
- Misrepresentation: This covers claims related to any false or misleading information provided by your business in the course of professional services.
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Cyber Insurance
Cyber Insurance is specifically designed to protect businesses from damage caused by cyber threats, such as data breaches, system malfunctions, and theft of confidential information. This type of commercial insurance covers costs associated with the aftermath of a cyber-attack, including legal and regulatory fees, network restoration expenses, and public relations and crisis management. Investing in cyber insurance can provide businesses with confidence knowing they are protected in case of a cyber-attack or other online threat that happens more and more in the increasingly digital world.
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Get started today with the first step towards reliable insurance protection for your business. |
How to Choose a Commercial Insurance Policy
Choosing a commercial insurance policy for your business can often feel overwhelming. Here are some tips to help you make an informed decision:
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Identify and understand the risks your business could face.
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Have an insurance broker read your policy documents with you, including the terms and conditions.
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Work with a reputable insurance broker who can guide you through the complete process.
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Our expert commercial insurance brokers in Edmonton can help you figure out exactly what coverage your business needs. Access Insurance is dedicated to finding you the most comprehensive coverage and ideal insurance rates for your business. |
The Cost of Commercial Insurance in Edmonton
As a business owner, you don’t want to cut costs when it comes to protecting what you’ve worked so hard for. That’s why it’s essential to know what factors impact your insurance rate.
There are many factors that can affect your insurance rate, including:
Your location
Business size
Coverage limits
Deductible amount
Industry you work in
Business revenue
And More
Our brokers shop around for you and compare commercial insurance quotes from our insurer partners to get you the ideal coverage options and an affordable premium.
While you may be tempted to skimp on business insurance to save money, the potential financial loss from not having adequate coverage far outweighs the costs you pay now to protect your business.
Edmonton Commercial Insurance: FAQs
A CGL policy does not provide coverage for lawsuits involving intentional criminal actions, patent infringement or contractual liability. CGL insurance also does not cover lawsuits arising from professional services or advice that you would provide to your clients. The latter is covered by a professional liability insurance policy.
One of the most common mistakes a business owner can make when buying business insurance is to not have the right amount of insurance for your business. This means you’re either underinsured or overinsured. Speak to one of our brokers to ensure your coverage matches your needs.
It also helps to understand your insurance policy’s details – it’s critical to know what the fine print means and how it can affect your business when you go through the claims process. An experienced broker from Access Insurance can walk you through your insurance policy and turn the insurance jargon into language you understand.
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You’re just a few clicks away from securing your business’s financial future with commercial insurance from Access Insurance. |