Professional Liability (Errors & Omissions) Insurance
This coverage protects your business from legal action stemming from alleged or actual errors or omissions in your professional services or advice.
Commercial Auto Insurance
This coverage is designed specifically for vehicles used for commercial purposes, whether transporting employees, tools, clients, or products, safeguarding your business from financial liabilities arising from accidents involving your commercial vehicles.
Commercial Property Insurance
This coverage protects your offices, storage units, and other business premises from unforeseen perils such as fire, theft, and natural disasters and ensures that your business can recover swiftly and continue operations in the face of unexpected property damage.
Cyber insurance coverage protects your businesses from enduring losses resulting from cyber attacks or data breaches.
Product Liability Insurance
If you manufacture or sell products, this coverage is necessary for protection against product-related liability claims.
Commercial General Liability Insurance
Liability claims arising from injuries or property damage related to your business operations can pose a daunting load on your business. Commercial general liability covers legal fees and awards or settlements.
While auto insurance is the only mandatory insurance in Canada, other forms of insurance may become necessary depending on specific circumstances. For instance, landlords often require tenants to obtain tenants’ insurance before renting their property.
Premiums are regular payments made to your insurance provider in order to keep insurance active, while deductibles are the amounts you pay out of pocket before insurance kicks in. Premiums are typically higher for policies with lower deductibles and vice versa.
When looking for insurance, it’s of course natural to seek affordable rates. However, opting for the cheapest insurance policy may not be the wisest choice, as it could indicate inadequate coverage. Instead, consider strategies like avoiding minor claims, raising your deductible, or combining multiple policies to lower your insurance premium while maintaining adequate protection.