What is the best way to describe your business?
Find out more about insurance for each business / job category. Many of them have unique insurance needs and requirements.
- Contractor Jobs
- Builder: Owner and General Contractor
- Health Professional
- Home-based Business
- Other Business
What’s the difference between Business Insurance and Commercial Insurance?
Business insurance and commercial insurance are terms that mean the same thing – a collection of business insurance types that are required to operate your company. Business or commercial insurance relates to various insurance types that are explained in details below. Insurancelly can help you to get a business insurance quote tailored to your particular business.
How do I Determine what Insurance I Need for my Business?
Regulatory: You are not allowed to perform a job unless you have specific insurance. An example of such insurance is malpractice coverage, which is also called medical liability insurance for health care professionals.
Contractual: Many jobs are available only for contractors that can provide a confirmation of professional liability and without this coverage you would not be considered a contractor for a particular job (e.g. by condominium corporations).
Tools and equipment: Depending on the tools you need to work in your business area, you might need to consider protection through commercial property insurance, especially if there are significant costs or risk of loss associated with these tools.
Need to drive / transport items: If your business relies on driving e.g. to visit your clients, deliver orders, complete contracting jobs on-site or transport items, you need to think about commercial auto insurance.
Ownership of a commercial building: If you operate a property that is part of your business, e.g. a manufacturing facility, you need to think about commercial building insurance to protect it against numerous risks.
Employees: Having employees comes with a number of requirements and one of them is the need to offer an industry-comparable benefits package that can include such coverages as life, disability, critical illness, health benefits, drug insurance.
Revenues: Your revenue are considered as well when you look for an insurance policy. The higher they are, the higher the risk exposure if something goes wrong – from equipment damage to a customer liability claim.
Risk: No two businesses are the same – the riskier is your business, the higher are your insurance premiums.
Other: There are dozens of other factors that impact your insurance choices – years in business, number of employees, location, assets owned, type of business, history of claims etc.
What’s the Best way to get the Right Coverage at the Right Price?
Getting a business insurance quote from an insurance agent means that you are able to get only one insurance quote without comparing it across the market. Choosing to work with an insurance broker, on the contrary, offers access to the insurance policies of several providers.
Business insurance brokers that Insurancelly partners with offer access to more than 15 insurance providers, such as: Gore Mutual, Intact Insurance, Coachman Insurance, Wawanesa Insurance, Travelers, Economical, Royal & SunAlliance, Aviva Insurance, Totten Group, AM Fredericks, Encon, Evolution, Creechurch, Special Risk Insurance Managers, Guarantee Company of North America.
Fill in the short form below to connect with an experienced business / commercial insurance broker to get more information or a business insurance quote customized to your needs.