How Much Is Commercial Liability Insurance In Canada?
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Whether it is for a contract, lease, condition of financing etc. business owners want to know how much is commercial liability insurance in Canada? Thankfully the commercial liability insurance experts at ALIGNED Insurance can help answer this question quick and easily for you. Technically the answer to “how much is commercial liability insurance in Canada?” is “that depends” on a number of factors that are taken in to consideration by actuaries and underwriters at the top Canadian insurance companies ALIGNED Insurance does business with. There is a base line cost of $350-$750 (depending on the insurer) + fees and applicable taxes for an insurer to issue a commercial liability insurance policy in Canada as for every insurance policy they issue insurers need to set aside capital reserves to ensure they have sufficient capital to pay losses arising from that or any other policy they issue. Once the baseline is established insurers use actuarial science, data and market intelligence and strategy to determine pricing for various types of companies who need/want commercial liability insurance in Canada.
Main Factors Insurers Use To Calculate How Much Is Commercial Liability Insurance In Canada?
- Projected annual revenue of the organization
- Split in sales between geographies like Canada, the US and the rest of the world
- What are the operations of the insured i.e. product sales, services offered, physical labour etc.
- How many empoylees
- Contractual relationships with customers and/or suppliers
- How much insurance is desired
- How much experience do the key people in the organization have
- Has the organization had any claims in the past
- How long has the organization been operating
To Find Out How Much Is Commercial Liability Insurance In Canada? Or To Get A Commercial Liability Insurance Quote in Canada Connect With One Of Our Canadian Business Insurance Brokers Today at 1-866-287-0448
|ALIGNED Across Canada 100% Canadian owned, ALIGNED is a premiere insurance brokerage that serves more than 1,400 clients across the country. ALIGNED’s offices in Toronto, Calgary and Vancouver are supported by a national operations centre in Cambridge, Ontario. Uniquely within the industry, ALIGNED creates, negotiates and delivers the best business insurance and risk management strategies/solutions to organizations like yours.|
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