Commercial Insurance Barrie, ON
Commercial Insurance Barrie
As a business owner in Barrie, Ontario, it is essential to protect your business against losses, damages, and lawsuits. After all, all businesses face risks, such as injuries, lawsuits, property damage and theft.
Plus, let’s not forget that you need a plan for unexpected events. With commercial insurance, you can financially protect your business from many of these common risks.
With over 20 years of experience, the leading insurance specialists at Bevan Insurance have the knowledge and skills to provide you with high-quality insurance solutions you can trust.
We recognize that every business is different, which is why we are committed to collaborating with business owners to build an insurance portfolio that fits their unique needs.
As an independent insurance brokerage, Bevan Insurance’s insurance specialists can offer unbiased guidance and exclusive access to many leading insurance company policies.
Business owners can rest easy knowing their needs and interests are being taken care of.
Get a free quote in Barrie, Ontario, with Bevan Insurance today!
What is commercial insurance?
Also known as business insurance, commercial insurance works to financially protect everything that matters most. It can help ensure your business stays open and maintains operations no matter what is thrown your way.
There are two main types of commercial insurance:
- Commercial liability insurance: protects your business in the event of a lawsuit and helps cover the associated costs.
- Commercial property insurance: helps cover the costs associated with property damage or theft.
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Business interruption: should you have to close your business for an unknown amount of time, this coverage helps to offset any ongoing costs.
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Commercial auto: personal insurance will not cover you or an employee using a vehicle for work-related purposes. Therefore, businesses require commercial auto insurance for any vehicle used for work.
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General liability: protects your business by covering legal fees and medical expenses in the event you are found legally liable for bodily injury, property damage or slander, defamation or advertising injury.
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Property insurance: protects commercial properties against losses and damages (e.g., fire, natural disasters, vandalism, theft or equipment malfunctions)
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Professional liability (E&O): covers the cost of all legal fees should you be accused of:
– inaccurate appraisals
– breaches of contracts
– defective product designs
– delivery delays
– typographic errors
– advice or information that is incorrect
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Workers’ compensation: covers medical costs and lost wages for your employees due to work-related injuries or illnesses.
Why is commercial insurance important?
Whether you are a small business owner, the CEO of a large company, or even a freelancer, every business in Barrie can benefit from commercial insurance. As running a business comes with all sorts of variables, it is crucial to protect yourself and your business.
Should your business encounter a third-party lawsuit or get broken into without insurance, you will have to pay out of pocket for these expenses. This can lead to financial hardship for not only your business but yourself. It can even put you at risk of losing your business altogether. Therefore, having a comprehensive insurance plan in place is not only a good idea, but it is also good business.
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What are the benefits of commercial insurance?
Minimizing financial losses
Without business insurance, you could be required to pay for legal fees, repairs, replacement costs or medical costs for various situations. Any of these could put your business in a bad position if you cannot afford to pay.
Protection from liability claims
Without proper insurance coverage, you will be on the hook for any legal fees in case of a lawsuit. General and professional liability coverages will help to cover the legal fees and associated costs.
You could face a lawsuit if:
- A customer injures themselves at your business
- A customer experiences financial damage due to errors in a service you provided
Protection from the unexpected
Should a natural disaster or an “Act of God” render your business inoperable while being repaired, business interruption coverage can help replace your lost income. This will help to cover ongoing bills such as rent, payroll or loans. Also, commercial property coverage will help cover the cost of damage and repairs.
Protecting your employees
With workers’ compensation, your employees are protected should they become ill or injured from their job. This coverage helps cover medical care and replace some of their lost wages. It also provides financial benefits to a deceased employee’s family.
Increasing business credibility
When you show you have commercial insurance, clients and customers will feel more confident in your business. This increases your credibility as a business because customers know their work is protected.
A comprehensive commercial insurance policy will help alleviate any long-term effects of loss to maintain your business reputation and continuity with your customers. Your policy can help you get back on your feet in the event of unexpected perils. Therefore, as a business owner, commercial insurance is a viable solution to protect your assets and interests. Knowing you are protected during your day-to-day operations also provides peace of mind.
How do I get commercial insurance in Barrie?
If you want to purchase commercial insurance in Barrie, Ontario, contact an insurance company or an insurance agent, such as one of our experienced insurance specialists at Bevan Insurance.
Our team is prepared to help you find the best coverage to fit your needs. As an independent insurance brokerage, the team at Bevan Insurance has access to numerous leading insurance policies, enabling you to choose the coverage that best fits your requirements and expectations. As we have no affiliation with any specific insurance firm, our brokerage can assist you by providing impartial guidance to ensure that you are comprehensively protected.
To learn more about how the professional brokerage team at Bevan Insurance can protect you, get a free insurance quote with us online today before speaking to one of our team members for further information. We look forward to connecting with you!