Liability Insurance Canada | How to get coverage for your business
When you are starting or running a business you have a lot to take care of and knowing who you can trust and where to go to get the products, services & advice you need can be the difference between success and failure.
If you are asking the question how do I get liability insurance for my business in Canada then you came to the right place and you don’t need to look any further! ALIGNED Insurance is a business insurance brokerage that exclusively specializes in commercial insurance.
Our team of expert business insurance professionals will explain and take care of everything so you don’t have to ask how I get liability insurance for my business in Canada anymore.
So…how do I get business liability insurance in Canada?
Many places are trying to “sell” you liability insurance, but who, where and how much liability insurance you purchase are important decisions and shouldn’t be made lightly.
Below are the steps that we encourage all business owners to consider when purchasing liability insurance.
ONE. Educate yourself on the product.
Many different types of liability insurance cover very different things. Make sure you are getting the product you want and need. Liability insurance products include:
- Commercial General Liability
- Professional Liability
- Directors and Officers Liability Insurance
- and many more…
TWO. Consider who you are buying business liability insurance Canada from.
Who is distributing the product and do they have the experience, expertise post-purchase support/service etc. that fits your needs and preferences. As well, what is the insurance company you are getting coverage from and what is their reputation, product quality, financial stability etc.
THREE. Find out what information is needed to get liability insurance for your business.
Depending on the industry, geography, products, services etc you offer the information needed to get liability insurance for your business in Canada can differ dramatically.
FOUR. Get options. And ask for recommendations.
Insurance brokers like ALIGNED Insurance are fiercely independent and do the shopping around for you. We approach some of the 65+ top Canadian insurers we do business with to find you the best value and options. And last but not least, get a recommendation from an insurance professional that knows your business, industry and the product being presented.
We are about much more than just business insurance…
Since day one at ALIGNED Insurance, we’ve taken pride in delivering a different insurance experience to Canadian businesses.
Our focus on providing essential insurance insights here on our website, through our e-newsletter ALIGNMENT Matters and our social media channels will always be a cornerstone of our business.
And here’s some more about us…
We are 100% Canadian-owned. And we’re proud to be a premier insurance brokerage that currently serves more than 1,600 clients across this country. First and foremost, we believe that aligning insurance experts to business needs is one of the most important things an insurance broker can do to support their clients.
We are proud to support businesses across Canada. In addition to a national operations centre in Cambridge, Ontario, we have offices in Toronto, Ontario; Calgary, Alberta and Vancouver, BC.
We are in growth mode, most recently acquiring Precept Insurance & Risk Management. Three well-established brokerage firms (with roots going back to 1912) came together in 1998 to found Precept.
We are proud to align with our past, present and future as business insurance brokers in Canada.
What is liability insurance?
Liability insurance is a category of commercial insurance designed to protect businesses from third-party liability issues. Some of the most common types of third-party liability claims are bodily injury and property damage. Meanwhile, examples of commercial liability insurance include general liability insurance, product liability insurance, professional liability insurance, and cyber liability insurance.
Does my small business need liability insurance?
Liability insurance can be useful for businesses of all sizes. No matter what size or industry your business is in, a lot can go wrong. For example, if a customer claims that the lip balm you sold them caused a severe allergic reaction, they could sue you for bodily injury. With liability insurance, your insurer can help pay for both court costs and medical expenses.
Is liability insurance required by law?
No, liability insurance is not a legal requirement for businesses. That said, landlords, stakeholders, customers, and clients can make liability insurance a stipulation of doing business with you. Therefore, we strongly recommend that all businesses purchase liability insurance. This way, you will be protected from third-party property damage, bodily injury, or financial loss due to your business operations.
Why is liability insurance important?
Lawsuits are expensive. Depending on the size of your business, one lawsuit could be all it takes to cause financial ruin or bankruptcy. But with commercial general liability insurance, your insurance company will help cover the costs should your business be sued. Specifically, your liability policy may help pay for defence costs, settlement costs, as well as the cost of any applicable medical expenses and property damage repairs.
How can I purchase liability insurance?
Contact ALIGNED Insurance to find the right liability coverage for your business. As commercial insurance experts, we can help you find comprehensive and affordable liability insurance in no time. Get in touch by phone or email or click here for a free quote.
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