Ontario Businesses Need Commercial General Liability Insurance

Our business means the world to you. We get it. Hardworking Ontario business owners should have comprehensive commercial general liability insurance to fit their requirements and defend them against potential lawsuits. Commercial general liability insurance helps cover your Ontario business for the costs associated with defending yourself in a court of law. 

CCV Insurance’s commercial insurance brokers in Ontario can tailor a liability policy to protect your business against allegations of negligence resulting in bodily injury to third parties, or if your business operations, services or products incidentally or indirectly cause the property damage of others. CCV Insurance’s commercial insurance brokers are happy to provide you with the advice you need to protect your business adequately. 

While liability insurance in Ontario is not always mandatory, some contracts with lenders, landlords, clients or venues — or even the government — require you to carry commercial general liability insurance. Let’s get you the coverage you need for the best price. 

 

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What is Commercial General Liability Insurance in Ontario? 

Commercial general liability insurance in Ontario covers the cost of defending your business against lawsuits that arise as a result of your business operations, products, services, or the actions of employees causing third-party injuries or property damage.  

Commercial general liability insurance can provide Ontario businesses coverage for the following: 

• Medical payments 
• Damages 
• Legal fees 
• Settlements 
• Administrative fees 
• Judgements 

Commercial general liability insurance in Ontario will also typically cover costs if your business is sued for defamation of character or slander.  

Any Ontario business that deals with clients needs commercial general liability insurance, no matter what size. If you handle equipment, deal with customers or sell any kind of product, you have the potential for a liability lawsuit. Never risk the business that you have built so carefully. Contact CCV Insurance today to discuss the potential of acquiring general liability insurance in Ontario for your business. 

 

What Doesn’t Commercial General Liability Insurance Cover in Ontario? 

A commercial general liability insurance policy is designed to primarily protect a business against claims alleging property damage, bodily injury, advertising injury and even personal injury by a third-party. All insurance policies will have specific wordings that outline exactly what is covered and what is not, surmising the contract that exists between you and your insurance company. Note your responsibilities will be to not only pay your policy premium, but also to disclose the absolute truth about what information is needed. Anything that you fail to disclose or lie about will not be covered. 

Commercial general liability insurance in Ontario may also exclude the following: 

• Contractual liability 
• Physical damage to business-owned property * 
• Violation of statutes 
• Expected/intended damage 
• Professional liability 
• Liquor liability * 
• Employer’s liability * 
• Workers’ compensation * 

 

A lot of the things excluded by a commercial general liability insurance policy in Ontario may be covered by another policy, such as those marked with an asterisk (*). Discuss with a CCV Insurance commercial insurance broker in Ontario about acquiring a full, comprehensive insurance package to defend your business. 

 

How Much Commercial General Liability Insurance does my Ontario Business Need? 

It depends. Every business has very distinct needs, and the amount of liability insurance that your Ontario company needs largely depends on a few different factors. These include your revenue, how many employees you have, your typical business operations, your company’s location and where it operates and your industry. How likely is it that your business could expect a lawsuit, and how much that lawsuit could end up costing your business? Answering these questions will give you a more accurate assessment of your business’ needs. 

Once you’ve figured out roughly your likelihood of a lawsuit or have worked with a CCV Insurance broker to determine your odds, you will have coverage options to choose from. Depending on the provider, those options may be $2 million, $3 million and upwards of $5 million. If you are not sure how much you need, discuss your requirements with a CCV Insurance commercial general liability insurance broker today.  

 

What are Some General Liability Insurance Claims Examples in Ontario? 

Your business might be faced with a claim for any number of reasons. Commercial general liability insurance in Ontario may be able to cover claims scenarios such as: 

• Bodily injury: Someone coming to drop supplies off at your business trips over a stack of products and injures themselves. They sue you for their injuries. 
• Reputational harm: After an advertisement campaign launches for your business, a competitor alleges you have made harmful comments regarding their product and sues. 
• Property damage: While visiting a client’s home to complete a repair job, your employee accidentally drops their tool case and cracks the client’s floors. The client sues you for the costs to fix their hardwood floor. 

In such scenarios, your commercial general liability insurance in Ontario would likely cover you for the cost of repairs, damages and injuries so that you could get back to work without worrying about potentially irreparable financial losses to your business. 

How Much Does General Liability Insurance Cost in Ontario? 

The cost of commercial general liability insurance in Ontario varies immensely from business-to-business and industry-to-industry. Insurance companies consider several factors to determine the level of risk that a business presents; in general, the riskier a business is deemed — be it because of its industry, products or services, level of experience or claims history — the higher premium it will pay for commercial general liability insurance.  

One of our expert commercial general liability insurance brokers in Ontario can get a detailed price analysis for your business when you request a free quote. 

 

What Affects General Liability Insurance Rates in Ontario? 

Costs for commercial general liability insurance in Ontario vary immensely from one policyholder to the next. As noted above, an insurer will review several factors to calculate your business’ level of risk. These factors include: 

• Your business industry 
• Your business revenue 
• Your insurance options 
• Your insurance limits 
• What your business does or sells 
• Your business’ insurance history 
• Your business experience 
• Where your business is located 
• Where your business operates 
• How many employees your business has 

 

Each insurance company will weigh insurance rates differently. This is why working with CCV Insurance can make a difference. Our brokers can provide multiple quotes from different insurers, so you can get the most comprehensive protection for the best price. 

 

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Why CCV Insurance? 

You’re a hardworking business owner. We get it — and we know how much effort, time and money you’ve put into your company. Our goal at CCV Insurance is compassion. We want to preserve your hard work so that you can keep your business afloat for many years to come. Commercial general liability insurance in Ontario helps to protect your Ontario business and its bottom line against potential lawsuits. CCV Insurance can get you free, no-obligation commercial general liability insurance quotes to start the process. All you need to do is complete our quote request form and one of our brokers will contact you shortly. 

As careful as you might be with your business, things can happen. And they often happen unexpectedly. Getting the right insurance from someone who knows you — and our commercial insurance brokers will take the time to truly understand your Ontario business — is imperative to your operations and continued success.