Commercial Insurance
What You Need to Know About Commercial Insurance in Ontario
Our commercial insurance policies can help protect your business against internal and external threats, property damage and liability. It will also protect you in the event of any claims or lawsuits filed against you or your business.
At James Campbell Insurance, our brokers dedicate time to get to know their clients and their stories. We want to understand your business inside and out and once we do, we can help you find commercial insurance and small business insurance that can best serve your needs.
commercial Insurance to cover your business
The Importance of Commercial Insurance Coverage
Commercial insurance is designed to protect you from the things you cannot predict during your day-to-day operations, including third-party property damage, errors or bodily injuries.
Most businesses require commercial or business insurance, but the level of insurance coverage you need will vary depending on the type of business you operate. Your business exposure to certain risks can be quite significant and commercial insurance should be put into place to help ensure the protection of your business against any unforeseen events.
Our commercial insurance policies will help protect you against any losses to your commercial property. This includes your buildings, stock and equipment. With property coverage, your business will also face internal and external risks, plus liability.
What businesses need commercial insurance?
Any small to large sized business will need some level of insurance coverage. At James Campbell Insurance, we insure every type of business and tailor your coverage to the specific industry you are in.
There are all kinds of insurance available for business owners, but the right type of coverage for you will depend on many factors, including your industry, size and revenue.
The common types of business insurance include:
Commercial General Liability Insurance
Commercial general liability insurance, or CGL insurance, will protect you if your company is found at fault for injuring someone or damaging someone else’s property due to negligent acts. These include negligent acts on your company’s property, negligent acts done while conducting business off of your business property, if a third-party is injured while using your product or if one of your employees damages a client’s property.
If any of these situations occur to your company and you are sued, commercial general liability insurance will help cover your legal expenses. This will include defense costs and any damages you are legally obligated to pay. CGL insurance is made to protect your business’ finances and is an essential coverage for any business.
Errors and Omissions Insurance
Errors and omissions insurance, also known as professional liability insurance, gives your business financial protection for claims that allege negligence or failure to deliver your services as promised.
For example, if you are an architectural or engineering firm, or an IT professional, or conduct business in some other advisory field, an individual can claim that you have caused them financial losses not covered by the standard general liability policy. Errors and omissions insurance will protect you in these instances.
Commercial Property Insurance
It doesn’t matter whether you rent or own your business space, commercial property insurance will give you financial coverage for physical loss or damage to your property. Your business property can face similar risks that your home does, such as fire and water damage or theft. It can also be exposed to less tangible threats like employee theft, equipment malfunctions, lost profits and business disruption expenses.
Commercial property insurance gives you coverage for all of this.
Some more specific examples that we offer include:
Farm Insurance
Working in agriculture and owning a farm is a great responsibility that comes with its fair share of risks. Many farmers experience crop or livestock loss, and the type of farm you operate, as well as what you grow or raise on your farm, will help determine what level of farm insurance is right for you.
Cyber Insurance
Cybersecurity is a growing concern for all businesses. Cyber insurance is designed to protect you against these cyber exposures through add-ons to your commercial policy or through a standalone cyber policy.
Why Choose James Campbell Insurance as Your Commercial Insurance Solutions?
At James Campbell, we put you first. Our clients are our top priority and the backbone behind everything we do.
We can help provide you with protection from insuring your first car, your first home or business, or even protecting you during your retirement travels. Whatever you need coverage for, we’ve got your back. We will make sure that you are ready to live a life free of stress or worry so you can focus on life’s important moments each and every day.
James Campbell Insurance Brokers have been taking care of our members for over 40 years. This is why we are able to make insurance easy by offering you the right solutions at the right times. Our solutions are tailored to fit your individual needs, no matter what they may be.
Types of Business
Owners Insurance
- Commercial Property Insurance
- Commercial General Liability Insurance
- Business Interruption Insurance
- Equipment Breakdown Insurance
- Product Liability Insurance
- Errors & Omissions Insurance
- Cyber Insurance
FAQs
If you are interested in lowering your insurance premium, speak with your insurance broker about the following:
- Increasing your deductible (your share of the cost of a claim). By increasing the amount of the deductible you are willing to pay, you will decrease your premium;
- Dropping your collision coverage on an older car;
- Bundling your car and home insurance with other types of insurance with the same insurance provider;
- Buying a car with a lower-cost insurance rating.
For an Auto Insurance quote, your driver’s license number, insurance history and driving records are important factors in getting an accurate quote. For a Home Insurance quote, details on the home, such as year built, square footage, style of home and updates on the roof, electrical, heating, and plumbing are all important factors in determining the premium. Additional factors, such as acreage, swimming pools and ponds all play a role in determining the coverage you will need along with the premium.
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