5 Types of insurance that can protect your business
If you’re planning on starting a new business, protecting yourself against exposed risks and unforeseen accidents with the right commercial insurance coverage is just as important as your everyday home and auto insurance. At Millennium Insurance, we’re committed to providing excellent commercial services in the case of damages, theft or legal action for small to large business in the provinces of Alberta, British Columbia, and Saskatchewan. Here are some types of coverage that you should consider when investing in commercial insurance with us.
- Property insurance. Just as you should have home insurance to protect your house and personal property, protecting your large business assets and investments such as the buildings you own, the tools and equipment you operate your business with, and finally your contents and furniture you may have, commercial property insurance will give you a peace of mind in protecting those assets in the event of unforeseen accidents.
- General liability insurance. By being in business you may expose yourself to various forms of risk and liability that otherwise may not exist. Commercial general liability is intended to protect your business against a loss if you’ve been found negligent and legally liable for bodily injuries and property damages suffered by a third party that was the result of your products and/or services your business engages in. In addition, we know businesses can be mobile and our commercial general liability will extend to provide coverage for both you and your employees for operations both on and off your business premise as well.
- Professional liability insurance. This insures your business against negligence arising from your professional services that may result in bodily injury, property damage or financial loss to a third party. Some examples of operations are consulting, surveying, and inspection work just to name a few. These unexpected errors may result in costly losses that would otherwise be excluded from your commercial general liability policy.
- Business interruption insurance. This type of insurance protects your business income, extra expense and intends to recover your business back to its feet as quickly as possible in case business is disrupted due to unforeseen catastrophic events, such as a fire or natural disaster. Additionally, business interruption insurance also provides coverage for any standing charges that may continue to occur when your business has been shut down due to an insured peril.
- Commercial Vehicle Insurance. If you’re using any vehicles in connection with your business in Alberta, you’ll need to have the proper commercial insurance coverage in place. Our commercial automobile policies cover small business from general contractors to sizable large commercial fleets with various coverages for third party liability up to $5M.
Millennium Insurance: your first choice for commercial insurance
If you’d like to know more about insuring your business, get in touch with our experts at Millennium Insurance. We’re proud to offer home, auto and commercial insurance to meet all your insurance needs. To find out more about what we offer in terms of home, auto and commercial insurance in Calgary, Edmonton, Leduc and other towns across the province, contact us today.