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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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 going to 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:
- Visit us at zensurance.com.
- 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 a few other questions to fill out.
- 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), How many years of business you’ve been in operation, 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:
- Use the chat feature on our website;
- Send us an email at info@zensurance.com; or
- 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 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:
- Commercial General Liability (CGL)
- Directors’ and Officers’ Liability
- Professional Liability (also known as Errors and Omissions)
Read about 4 examples where insurance saved a Startup
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 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.
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 our customers friends say about us
Our customers ❤ us, and so will you!
Learn why thousands of Canadian small businesses trust us with their insurance needs.
Zensurance has been the easiest company I’ve ever received insurance from. Simple, painless and responsive, look no further than Zensurance for your company’s insurance needs.
The Zensurance team was responsive, professional, and knowledgeable. Zensurance knew exactly what we were asking for after a few minutes on the phone. I would highly recommend them for liability insurance especially if you’re not sure what you need to protect your business.
Ready To Start? Let’s Get a Quote!
Getting an insurance quote shouldn’t be complicated!
At Zensurance we simplify the process of getting insurance so that you get the coverage you need, quick and easy!
Our friendly support team is always ready to answer questions, we’re just a click or a phone call away.
