Small Business Insurance Quote – Get ALIGNED With More Options
Risk happens when you least expect it. And if you lead an SME (small to medium enterprise) you are well aware that risk comes in small, medium as well as large sizes. With the Government of Canada reporting that, “in all industries, at least 70 percent of the workforce is employed by small and medium-sized businesses”1 finding small business insurance coverage that matches the size, scale and unique risks of your operations is of utmost importance.
Small Business Insurance – When The Worst Case Happens
Small (1-99 employees) to medium (100-499 employees) sized enterprises (SME) drive the Canadian economy. However, many small business owners do not have a plan in place for a worst-case scenario. A recent survey of Alberta-based small enterprises highlights this surprising gap. Canadian Underwriter reports that, “One in five said they have a formal plan and an additional 27% said they had an informal plan. Four per cent did not know while the remaining 49% said they did not have one.”2
Imagine that a neighbouring retail property is being renovated. After a deluge of rain, one of the property’s exterior wall starts to bulge outward and city officials order an immediate work shutdown. If your small business is next door, you could suddenly find your operations halted until the construction problem is rectified. Thankfully, business interruption coverage is available for just this type of worst case scenario. IBC explains, “Business interruption insurance is usually an optional add-on to your existing business property insurance policy that would cover your earnings during the period of a shutdown. For example, a retail store owner whose business has suffered fire damage would collect the income they would have expected to generate from doing business during the repairs and shutdown.”3
Small Business Insurance Quote – What To Consider
Whether it is your property, liability or directors risks, there are many things to consider when assessing your small business insurance needs. Some of the insurance coverages that are most relevant to small business include:
- Accounts Receivable
- Business Interruption
- Commercial General Liability
- Commercial Property
- Directors & Officers
- Employee Theft
- Employment Practices Liability
- Umbrella Liability
We understand the complex risks that your small business faces. From assessing your liability exposures, reviewing losses to providing risk management info to calculating the current value of your property, we’re here to help.
Talk to us about your small business insurance needs. Wherever you are located, we can help you get a small business insurance quote that delivers more value and options to your Canadian business.
|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.|
Sources: 1 Government of Canada: Innovation, Science and Economic Development Canada
2 Canadian Underwriter “49% of Alberta SMEs surveyed do not have business continuity plan: ATB Financial”
3 IBC.ca Business Insurance and You