Business Insurance2019-09-09T12:37:24-04:00

Business Insurance

According to Economic Development Canada, “all Canadian businesses take some risks, but taking too many risks or failing to protect yourself does not make good business sense”. This is why having Business Insurance is so important

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Consultant Insurance

Hi, I’m Trevor from Zensurance and I’d like to briefly explain business insurance for Canadian business owners.

We’ll quickly review what business insurance is, what it covers and how much it could cost.

Many business owners wonder: Why do I even need business insurance?

Well, running a business is hard work, really hard work, it’s an investment of your time it’s an investment of your money and your passion. It only makes sense to protect those investments with business insurance. Think about it, your livelihood and the livelihood of your employees could depend on being insured or not. When you think about it from that angle, the premium you pay starts to feel very small when compared to the stress of potentially having to start everything all over again on your own.

With that out of the way, let’s move on to what exactly is business insurance.
Well, business insurance is really just an umbrella term that refers to the whole bundle of insurance policies that apply to a business. It can include things like commercial property insurance, commercial general liability insurance, errors and omissions insurance, and so on. When you insure your business in Canada, you really start off with commercial general liability insurance and you build coverages on top of that.

Commercial general liability insurance is the most basic type of insurance and it really covers your business against
claims of injury or property damage to third parties.

People always ask: How much am I gonna have to pay for business insurance?

That’s a great question and there’s a number of things that the insurance companies will look at when determining your premium. Things like the size of your business, the revenue from your prior year, what industry you’re working in and any years of experience you’ve had running similar type businesses. There’s a number of other things that they may use to determine premium as well.

To find out how much insurance would cost for your business, it’s very simple and you can even do it online. Here’s what you’ll need to do:

  1. Visit us at zensurance.com
  2. Click on get a quote, and simply start to type out the name of the industry you work in. If you’re not able to find an industry, simply type out “other”, click “Next” and you’ll be presented with few other
    questions to fill out.
  3. Some of the other questions you’ll be asked to fill out
    would include things like: How much you made last year, What’s your projected revenue is for this year (don’t worry, an estimate is fine)
  4. How many years of business you’ve been in operation
  5. How many people you employ and so on…

And that’s it! Based on your industry we’re going to recommend the best policy for you and you’ll get a great price estimate. In case additional information is required, one of our talented insurance brokers will be in touch with you to clarify any questions.

It’s that easy and it’s that simple!

If you have any more questions on business insurance in Canada, we have several ways to help you:

  1. Use the chat feature on our website
  2. Send us an email at info@zensurance.com or
  3. Call our customer care number at 1 888 654 6030

What is Business Insurance?

Business insurance protects business owners from losses due to unforeseen events that may occur during normal business operation such as property damage, errors or injuries. There are many types of insurance for businesses that protect them according to their industry, size and revenue. Some of these types include general liability insurance, errors and omissions insurance or directors & officers liability insurance.

What does Consultant Insurance cover?

What does Business Insurance cover?

While it’s not an insurance type per se, it is usually used as an umbrella term to refer to commercial general liability insurance and all other insurance sub-types.

Explore the following insurance policies for specific coverage information:

Read about 4 examples where insurance saved a Startup

What is the cost of Consultant Insurance?

Who needs Business Insurance?

Regardless of your business type, owning insurance is critical for the long term survival of any business. Cover the financial costs associated with unforeseen events such as damage caused to 3rd parties, accusations of professional negligence or defective products.

What is the cost of Consultant Insurance?

What is the cost of Business Insurance?

The cost of an insurance policy varies according to factors such as:

  • Industry
  • Level of experience in the industry
  • Revenue

It also depends on the nature of your work and the size of your particular business.

Get a free insurance quote right here.

Getting insured is quick and easy!

If insurance for your small business is what you need, request a free quote now

Which Small Businesses Require Insurance?

Regardless of the type of business you own, having insurance is critical for almost any business including:

  • Accountants

  • Accounting Firm

  • Actuaries

  • Advertising

  • Aerial and ground based Photographers / Videographers

  • Alternative Energy

  • Architects & Engineers

  • Appraisers

  • Bookkeepers

  • Broadcasters

  • Building Designers (Bill 124)

  • Business Consultant

  • Chiropodists

  • Civil engineers

  • Collection Agencies

  • Consultants

  • Chiropractors

  • Design Firms

  • Directors and Officers

  • Employment Agencies/Recruiters

  • Engineers

  • Environmental Engineers

  • Energy Audits & Assessments

  • Financial Advisors

  • Financial Planners

  • Foreign Legal Consultants

  • Holistic Professional

  • Hotel Consultant

  • Home Inspectors

  • Human Resources (HR) Consultant

  • Immigration Consultants

  • Information Technology & Computer Consultants

  • Interior Designers

  • IT Contractor

  • IT Specialist/Technician/Programmer

  • Independent Contractor

  • Product Designers

  • Professionals Liability

  • Lawyer’s Excess Professional Liability

  • Management Consultants

  • Medical Related

  • Medical Professionals (Malpractice Insurance)

  • Medical Students (Malpractice Insurance)

  • Multimedia designers

  • Mortgage Brokers

  • Naturopaths

  • Occupational Health and Safety Consultants

  • Quality Control Consultants

  • Placement Agencies

  • Podiatrists

  • Process Servers

  • Private Investigators

  • Project Managers

  • Property Managers

  • Paralegals

  • Publishers and Printers

  • Recruitment and Employment Agency

  • Recruitment Consultants

  • Safety Engineers

  • Service Organizations

  • Solar & Wind Farm Engineers & Consultants

  • Staffing Agencies

  • Structural Engineers

  • Sub Contractor

  • Surveyors

  • Therapist Professionals

  • Training Providers/Trainers

  • Travel Agencies

  • Travel Agents, Tour operators

  • Web-Site Designers

  • Web Developers

  • Workplace Engineers & Consultants

Frequently Asked Questions about Insurance for Small Businesses

What does business insurance cover?2019-05-10T12:46:29-04:00

The most basic type of business insurance known as a commercial general liability (CGL) covers two main areas: 3rd party personal injury and property damage. This basically means that if as a result of your normal business operation someone gets hurt or something is damaged, your business insurance can help cover the costs. On top of this, if you have unique protection needs, you can add a wide range of optional coverages such as cyber liability, errors & omissions or medical malpractice just to name a few.

How much does business insurance cost?2019-05-10T12:45:52-04:00

Most small businesses pay anywhere from $500 to $5,000 per year for business insurance.  The wide range in cost is explained by the wide diversity of business types and risk factors of specific trades or industries. Other factors that affect your business insurance cost are the amount of coverage, previous experience in the industry or insurance claims made in the past. The easiest and fastest way to know how much your policy could cost is to get a business insurance quote here.

How much business insurance do I need?2019-05-10T12:30:42-04:00

Canadian entrepreneurs often ask how much business coverage they should get. 1 million or 2 million? The answer as with many things insurance is: It depends. As your business coverage goes up so does your premium. If you can absorb the cost, the general advice is to get as much coverage as you can afford. Many business owners who have to file a claim and went for the cheapest option often wish they had gotten broader coverage. Evaluate the potential risks your business is exposed to and your budget.

Do I need business insurance if I work from home?2019-05-10T12:31:16-04:00

The short answer is YES. While some personal home insurance policies could cover some personal items you use for work such as a laptop, a printer, a monitor or some tools, many times there are exclusions in your home policy that don’t cover home business items. In case of damage to your home or loss of equipment that prevents you from working, the loss of income will not be covered by your home insurance.

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