Did you know slips or falls are the most common kind of workplace injury in Canada? Protect your business by having the best coverage for your business. If you would like to learn about protection options, keep reading.
This guide will teach you business protection options and when to pursue specific types.
Check out the tips below.
You Should Get General Liability Insurance
General liability insurance protects your company from personal injury claims or property damage. The coverage will cover their medical costs if someone slips and falls into your store.
Most small business owners will get a general liability insurance policy. This policy protects your business from claims of property damage or bodily injury. The policy will usually include product liability insurance.
Professional Liability Insurance
Professional liability insurance covers claims related to a mistake in professional services.
In the event your accounting business makes a mistake, you could end up getting sued. Professional liability insurance is going to help cover some of these legal costs. Invest in this coverage and help save costs.
What About Business Income Coverage?
Business income coverage will replace any lost income you have from property damage. This kind of damage will also include damage from theft, storms, or fires.
Commercial Property Insurance
If you own or rent an office or equipment, you’ll want to get commercial property insurance. Commercial property insurance is going to help cover the leased or owned items.
Insurance will cover costs if someone breaks into your business and steals something.
Workers Compensation Insurance
If your worker gets hurt while working, they can have their wages covered. Workers’ compensation insurance benefits workers if they get hurt or sick.
The insurance will help cover treatment costs.
What About Commercial Auto Insurance?
Auto insurance will cover your business in the event of property damage or bodily injury claims an employee makes. If your employee uses a company-owned vehicle and gets into an accident, they will make a claim.
Make sure you invest in this insurance if you have a company vehicle.
Choose an Excellent Insurance Broker
You should spend time comparing quotes for insurance policies.
Pick a few different companies, and ask for an estimate. You should also see if you could speak to previous clients. This way, you can ensure you’re working with a reputable insurance broker.
Before you pick anyone, find out if they will provide a bundle of insurance policies for your business.
Get the Right Business Protection
You should seek out adequate business protection in the form of insurance. Make sure you have appropriate insurance for your business.
So you can protect yourself and your workers. Look into getting auto insurance if you have a commercial vehicle.
You might want to get product liability insurance, as well.
Need more helpful business tips to prevent legal issues? Check out our legal and business sections on the blog today.