You work hard to keep your business running, day in, day out. Operating or even starting a business — whether that business is small, large, has been around for a few months or a few years – takes grit. CCV Insurance matches that grit by working hard to find our Ontario clients the business insurance they need to stay on track — even if the unexpected strikes. Be it a lawsuit or property damage, we want you to be able to keep your doors open for as many years as possible.
CCV Insurance, one of Ontario’s largest independently owned brokers, has been serving its clients and hardworking business owners for over 40 years. We support our service and product offerings with an expert team of business insurance professionals, who have expertise, extensive training and knowledge that is used to customize solutions for our clients’ businesses.
It takes more than the traditional insurance services to adequately protect your business. That’s why CCV Insurance thinks beyond the typical offerings to respond to the perpetually shifting needs of our clients.
Start the process to protect your business by requesting a free commercial insurance quote with CCV Insurance.
Ontario Business Insurance: The Protection Your Company Needs
Your assets need financial protection. When you connect with CCV Insurance to ask us for business insurance, our Ontario brokers get to work finding a variety of policy options that contain comprehensive support to mitigate financial risks to your business. Ontario companies need to protect their assets, such as their property, vehicles, building and equipment. In addition, liability insurance is a critical coverage as it reduces risks arising from when claims are filed against your company. You may also want to include business interruption insurance, which covers your business in the event of a stall due to insurable hazards and for expenses like ongoing bills, rent and more.
Let’s break down comprehensive business insurance in Ontario just a little bit more.
Commercial Property Insurance for Ontario Businesses
Commercial property insurance protects your physical premises in Ontario (and beyond, if you have operations elsewhere). It protects your assets such as inventory, buildings and equipment. Property insurance offers a range of options depending on your insurer and your policy. Fortunately, our expert commercial insurance brokers can help customize a solution that works best for the unique needs of your company. Obviously, your business is far more than its bricks and mortar locations, but whether the space you work out of is a home office, a larger commercial space or a leased area, it’s where you make the magic happen. Replacing or repairing it entirely on your own could be detrimental without the proper insurance coverage in place.
Commercial property insurance can also include coverage for things like electronics, equipment and exterior fixtures (i.e., fencing, landscaping, outdoor signs). Enhanced coverage can cover hazards such as earthquakes and overland flooding.
Commercial General Liability Insurance for Ontario Businesses
Any Ontario company that interacts with clients will need commercial general liability insurance as part of their overall business insurance policy. This coverage helps protect your business against liability claims. Despite your passion and commitment, things can go wrong. Say you are a snow removal company, and you damage a customer’s car in the process of removing snow from their driveway. This could be grounds for a lawsuit, which many small businesses cannot recover from the costs of. Commercial general liability insurance provides protection for you and your business against claims of bodily injuries and property damage, as well as advertising injuries such as libel and slander.
Commercial general liability insurance is designed to cover the legal costs to defend your business against claims made in court, in addition to any necessary indemnity costs to cover damages and compensate the third parties that suffered financial loss or injuries.
Business Interruption Insurance for Ontario Businesses
This coverage goes hand-in-hand with a commercial property insurance policy and is designed to protect your business against any losses sustained because of a period of closure due to damages or destruction caused by an insurable loss. Say, for example, a fire burns down your business property and you are left without a physical premise or equipment to operate with. Business interruption insurance is designed to cover you during the period of closure for things like fixed operational costs, bills, rent money, employee wages and more. It can also cover you for your loss of income based on past months or years average revenue, as well as temporary relocation costs if you set up base somewhere else until your business is able to open its doors once more and resume operations.
Other Coverages to Consider
A comprehensive business insurance policy in Ontario wouldn’t be an extensive, all-encompassing business insurance policy without the fixings you needed to make it perfectly yours. Every business runs differently, which means that everyone’s coverage should be designed to fit their business and its needs.
As such, every business should be fit with its own unique types of insurance coverage. Beyond what was listed above (which are considered the “standard” insurance options for businesses in Ontario), you may want to speak with a CCV Insurance commercial insurance broker about additional coverages, such as:
- Equipment insurance and equipment breakdown insurance
- Cyber liability insurance
- Pollution liability insurance
- Professional liability insurance
- Directors and officers liability insurance
- Product recall insurance
- Product liability insurance
- Commercial automobile insurance
- Crime insurance
- Cargo insurance