How to Choose a Good Commercial Insurance Plan for Your Business

 

Most new business owners are cautious with their expenses—and rightly so. However, there’s one expense you don’t want to cheap out on: your commercial insurance. In this post, we’ll provide the critical information you need to choose a good commercial insurance plan. After reading this post, you’ll be one step closer to choosing a plan that provides the protection you need, so you can keep your business thriving even in the midst of a crisis. 

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Will Auto Supply Chain Issues Affect My Insurance Claims?

white vehicle in mechanic shop; auto supply chain issues

 

We’ve all heard the news about supply chain issues. But if you haven’t, here’s a one sentence summary: it’s a mess. And that also applies to auto supply chain issues. Canadians are experiencing record-high pricing for new and used vehicles and car repairs. 

So what does that mean for your insurance? Could your claim or even premium be affected? 

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Most Commonly Stolen Cars Canada

When buying a new vehicle, you may want to think about what cars are most commonly stolen in Canada. The most commonly stolen cars in Canada change regularly as trends and security risks change. The reason you may want to know what the most commonly stolen cars in Canada are before buying your next vehicle is so that you can reduce your risk, and potentially reduce your insurance costs. The annual list of the top 10 stolen vehicles in Canada is published by the Insurance Bureau of Canada to highlight vehicles that are most at risk.  This year, newer SUVs dominate the list. 

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Do I Need Business Interruption Insurance? What Does Business Interruption Insurance Cover?

There are many different coverages in commercial insurance and business interruption insurance is one coverage that can often be overlooked. What is business interruption insurance? What does business interruption insurance cover? Do you actually need business interruption insurance, or is it something you can just forego? The short answer is you need business interruption insurance! In the event of a direct damage insurance claim that results in your business not being able to operate, business interruption insurance provides coverage for loss of income and associated expenses incurred to resume operations.

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What Does Commercial Property Insurance Cover?

Understanding your commercial property insurance can be tricky, and you may find yourself asking what does commercial property insurance really cover? Commercial property insurance can be modified to fit your needs, every policy is different. It’s important to know the basics of commercial property insurance, so you can determine what your needs are and what changes you need to make to give you peace of mind. 

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