As one of Canada’s most important cities, Calgary is an excellent place to live and operate a business. Despite the many great things about owning a business in Calgary, operating any business comes with risk and if you’re a business owner in Alberta’s largest city, then it might be wise to protect your business from harm. That’s where business liability insurance comes in. Liability insurance can help cover the costs of lawyers, lawsuits and claims brought against your company by third parties.
If you think business liability insurance might be the right move, ALIGNED can help. As a leading insurance brokerage across Canada, we are committed to finding quality insurance policies for all Calgary business owners that is custom built for their needs, budget and preferences. Whether your business runs out of Arbour Lake, Signal Hill, or downtown we can find an insurance solution for you!
What is business liability insurance?
Business liability insurance aims to protect the policyholder against all kinds of third-party liability issues. Business liability insurance generally falls into three categories: commercial general liability insurance, product liability insurance, and professional liability insurance. No matter which coverage(s) you choose, the purpose is to protect your business against financial losses associated with third-party lawsuits or claims. A customer accidentally injuring themselves while in your store could result in a lawsuit. Similarly, if a product you sell causes harm to a customer, they could try to sue you. Protect yourself against the unforeseen risks of running a Calgary business by choosing a comprehensive business liability insurance policy.
What does business liability insurance cover?
Business liability insurance provides coverage relating to third-party claims and lawsuits. It also covers the defence costs associated with responding to covered claims regardless of their merit. Some of the most common risks that business liability covers are claims relating to bodily injury and property damage. A list of business liability coverage types available to Calgary business owners is as follows:
- Commercial general liability insurance
- Product liability insurance
- Professional liability insurance
- Errors and omissions insurance
- Cyber liability insurance
- Directors and officers insurance
How much does business liability insurance cost?
Business liability insurance in Calgary ranges in price based on several factors. For example, insurance providers will typically take into account the size of your Calgary business, your insurance claims history, your annual revenue, the number of employees employed by your business, and the number of years in business when calculating your premium. Therefore, to find out how much business liability insurance will cost, contact ALIGNED today. We are pleased to offer free quotes to all Calgary businesses. Get in touch online or by phone and we can provide you with an accurate and competitive business liability insurance quote…sometimes in minutes!