To answer this, we spoke to Duliban Insurance Brokers Farm & Commercial Account Producer Josh Mashinter. Here’s what he had to say:
“There are a lot of reasons you should get insurance for your small business,” said Mashinter. “You want to protect your assets. Business owners – their livelihoods depend on their ability to maintain the business. If a loss were to occur and they could no longer operate that might mean they can’t put food on their table and do all of the things they would need money for.
It also means their employees might not be able to work or have an income. It’s really important as a business owner that you see the value in protecting your assets and making sure that there’s proper coverage in place.”
What Does Small Business Insurance Cover?
Here at Duliban Insurance Brokers, our coverage offerings are designed to fit the needs of nearly every type of small business in Ontario. Some of the coverages we offer include the following:
- Commercial Property: Whether you own or rent the property in which your business operates, you should provide insurance against any potential damage caused by natural disasters, water damage, or even theft.
- General Liability: This coverage protects your business in the event of a product failing, or an injury occurring as a result of business activities. This is where the majority of small business claims fall and where the majority of your coverage should be.
- Commercial Auto: This protects your company vehicles, the drivers, and your employees who are driving for business purposes.
- Professional Liability: If you make a mistake, such as offer bad advice, miss a deadline, or simply do a poor job, professional liability will cover the associated losses if the client chooses to sue. Professional liability coverage relates specifically to your services.
- Cyber Coverage: This coverage helps cover potential data breach costs.
- Crime Coverage: If an employee were to steal data or products, crime coverage would help mitigate any costs associated with this type of employee theft.
- Business Interruption: Sometimes an event occurs that interrupts your ability to conduct business. Business Interruption Insurance helps protect the business from financial loss during this time.
How You Can Get Started
If you have specific questions relating to Small Business Insurance, the Duliban Insurance Brokers team is here to help! Contact us today to find answers to your questions and to get a free quote based on your specific needs.