Small Business Insurance in Ontario

What Insurance Cover Do You Need As a Small Business Owner?

To ensure that you are adequately covered across all areas of your business, you should consider all of the following types of insurance as part of your tailored small business policy:

Physical Assets

Protecting your physical assets is vital for your business and your peace of mind. Include the following cover:

• Fire, flood and storm cover.
• Theft cover
• Motor cover
• Business interruption cover
• Public liability cover
• Email and internet insurance
• Credit insurance

Human Capital

• Key person insurance: If you should lose a key member of staff with specialized skills that are vital to your business, you may suffer a serious setback as you search for a replacement. Key person insurance compensates you for any interim cash flow losses, as well as providing funding to find and train a replacement.
• Employees’ insurance covers both the company and staff against injuries that might occur in the workplace.
• Travel insurance: Some sort of travel insurance is essential if employees are required to travel frequently as part of their job.

Conducting regular maintenance on your infrastructure and regularly checking and upgrading your security systems are essential steps to take to minimize your risk and keep your premiums at a reasonable level. Implementing risk reduction measures will show the insurance company that you are serious about your business and will enable you to negotiate good premiums.

For more information about small business insurance in Ontario, contact Zippo Insurance.