How To Get Insurance For A Small Business In Canada?

How To Get Insurance For A Small Business In Canada?

The answer to the question, how to get insurance for a small business in Canada, is more complicated than it sounds because the insurance industry is a highly profitable industry and there are numerous organizations trying to tell people how to get insurance for a small business in Canada for their sole benefit, some of which are just selling your information to others.  Unfortunately, many of these “telling” organizations are truly just trying to sell you something under the promise that they will make things simple, easy and/or cheap.  They also want you to be believe that insurance is a commodity and that all insurance for a small business in Canada is the same.  They do this because they don’t want you to look into the details which will ultimately reveal dramatic differences between small business insurance products and, that like all things in life….you get what you pay for.  Unfortunately, insurance for a small business in Canada isn’t something that is or should be simple, easy, cheap or commoditized, because every small business and every person behind it is different. Those differences and nuance are what makes you and your business unique and are what ultimately needs to be understood and built into the type of small business insurance product(s) you are recommended, quoted and secured.

So What Would ALIGNED Recommend If Asked How To Get Insurance For A Small Business In Canada?

There are a number of ways to get insurance for a small business in Canada, but over 98% of organizations still choose to work with a Canadian business insurance broker because they recognize that they need experience and expertise. However, it’s important to note that not all insurance brokers and brokerages are the same and below are some of the factors that differentiate one brokerage from another to help you decide which brokerage is best for you:

  • What is the brokerage’s position on transparency and disclosure around compensation?
  • What services other than placing insurance does the brokerage offer its clients?
  • What level of service guarantees does the brokerage offer?
  • What percentage of their book of business is commercial vs. personal lines?  Fact: the typical insurance brokerage is 60-70% personal lines.
  • What is the brokerages claims reporting and support procedures and is it 24/7?
  • What is the brokerages operating hours and do they fit your schedule or preferences?
  • Who owns the brokerage?  The typical brokerage is owned in whole or in part by an insurance company.
  • What are the workloads of the front line staff and are their caps to ensure quality or service?
  • Does the brokerage have “Producers” who’s sole job is to just sell insurance?
  • What are the brokerages policies and procedures to ensure quality and consistency of service?
  • What are the staff training and education standards the brokerage has in place and how are they enforced?
  • What is the brokerages corporate social responsibility program?
  • Does the brokerage offer electronic issuance of commercial policy documentation?

The expert commercial insurance brokers at ALIGNED Insurance believe that Canadian business owners deserve a different and better experience and proudly share how they deliver that here. Built upon core values and a spirit of helping others ALIGNED is the brokerage of choice across Canada to business of all sizes.

To Discuss How To Get Insurance For A Small Business In Canada Or To Get Insurance For A Small Business In Canada Connect With One Of Our Many Licensed 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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