Business Insurance quote

For businesses in Canada, having the right insurance is essential to surviving and thriving in a world that is full of opportunity, but also full of risk. The right type and amount of insurance will provide some financial peace of mind to organizations navigating their way through the sometimes-complex world of business.

For example, in a society that is turning more and more often to the legal system to settle conflicts, insurance that protects an organization and its employees and/or volunteers from lawsuits (that is, liability insurance) is more important than ever.

What is business insurance?

Business insurance (or commercial insurance) is a contract between the business owner(s) and an insurance company, whereby the business policyholder(s) pays a set premium, and the insurance company agrees to pay for any related losses as outlined in the commercial insurance policy. Depending on the kind of business in question and where the business is located, different kinds of commercial insurance may be needed.

Business insurance 101:

The most common business insurance policies sought by business owners are the following: Commercial Property Insurance, General liability Insurance (CGL), Professional Liability Insurance, Accounts Receivable Insurance (AR), Crime Insurance coverage, and Errors and Omissions Insurance (E&O). What follows is a brief description of each: