Insurance for your office or small business provides you with clarity and protection for both your personal life and business life. Unfortunately, many small business owners (especially those with startup businesses) often overlook commercial insurance, as they feel it is an expense or luxury best suited for well-established businesses.

Every business is unique and, therefore, requires a customized insurance plan to support its environment, employees and budget. Ensure the well-being of your business by exploring your options. Commercial insurance is not only important; it is necessary and vital to the livelihood of your business.

There are several options of insurance coverage for your small business. Lets take a look at some essential insurance coverage.

Professional Liability Insurance is a form of liability insurance that aims to protect companies and individuals from claims arising from the delivery of your professional advice and service. This type of insurance protects you and your business from covering the full cost of defending against a negligence claim made by a client and of damages awarded in such a civil lawsuit.

General Liability Insurance provides financial aid to bear costs arising from bodily injury, property damage or personal injury on your business premises, or from any other activities arising from your operations where injuries to customers, employees, vendors or visitors has occurred.

Business Owner’s Policy (BOP) is a unique type of commercial insurance specifically designed for small businesses. BOP often combines business interruption insurance, property insurance, vehicle insurance, liability insurance and crime insurance. Customized to fit your company’s needs, BOP’s approach to providing bundle services typically offers a reduced premium and is more cost effective than other policies.

Accidents and claims can arise in mere seconds. Unfortunately, dealing with the cost of damages can not only take up much of your time, but also turn into a financial disaster. Any small business in Toronto or around the Greater Toronto Area that regularly offers advice or services to the general public is at risk of being sued. Whether it’s an accusation of giving out inaccurate information, withholding important details, or one of many other potential claims, actions and lawsuits can and often do take place.

Your business is your livelihood. Insurance coverage for your small business is a standard precaution to control, mitigate and avoid any risks, while ultimately protecting your business’s reputation and financial standing.