Waterloo Business Insurance Explained
Business insurance is a term for all types of insurance that provide protection from risks associated with operating a business. Business insurance is also often called commercial lines insurance and both term are used to make a distinction between them and personal lines insurance, which cover personal risks like potential liability from owning a home or driving a car.
Waterloo Business Insurance Products Available Through ALIGNED Insurance Are:
- Commercial General Liability
- Property Insurance
- Directors & Officers(D&O) / Board Insurance
- Professional Liability / Errors & Omissions(E&O) Insurance
- Employment Practices Liability Insurance
- Crime/Fidelity Insurance
- Cyber Liability Insurance
- Machinery Breakdown Insurance
- Fiduciary Liability Insurance
- Kidnap & Ransom Insurance
- Drone Insurance
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There are a number of ways to determine what type of business insurance your organizations needs including:How Do We Determine What Type Of Waterloo Business Insurance We Need?
- Review contractual obligations to determine the type(s) and limit(s) required by others for you to carry/evidence.
- Conduct risk assessment to determine types of risks that your business faces based on its operations, legal environment, industry geography etc.
- Speak to peers and competitors in your industry to determine what type of insurance they are buying and why.
- Connect with a professional insurance broker who specializes exclusively in business insurance to discuss your operations.
Commercial General Liability (CGL) insurance is the most commonly purchased type of insurance by far. A commercial general liability policy is issued to all types of business organizations to protect them against liability claims for bodily injury (BI) and property damage (PD) arising out of premises, operations, products, and completed operations; and advertising and personal injury (PI) liability. The CGL policy was introduced in 1986 and replaced the “comprehensive” general liability policy. Given the many types of coverage provided by the commercial general liability policy and the frequency of bodily injury claims most businesses that are operating purchase this coverage. What Type Of Waterloo Business Insurance Is Most Common?
Commercial Property Insurance is also a popular type of business insurance and provides coverage if physical assets are damaged or destroyed by numerous types of losses including fire, floods etc.
How Do I Buy Waterloo Business Insurance?
Waterloo Business Insurance is best purchased through a local, licensed and experienced insurance broker who will help you and your organization assess your needs, secure options and provide recommendations on what options are best for your organization.
ALIGNED Insurance Advocates specialize exclusively in business insurance and are experienced and skilled in risk identification. They also are experts in securing the best options available from insurance companies on your behalf.
To learn more about ALIGNED, our commitment to providing insurance expertise and the best insurance products or solutions, talk to one of our advocates today. We can help you secure the best products, services and solutions for your business.
Contact ALIGNED Insurance today for more resources on business continuity for small businesses and how our products and services we can help you & your organization through your most trying times.
We’re ALIGNED Across Canada 100% Canadian owned, ALIGNED is a premiere insurance brokerage that serves small, medium and large organizations. ALIGNED’s offices in Toronto, Calgary and Vancouver are supported by a national operations centre in Cambridge, Ontario. As one of Canada’s fastest growing insurance brokerages, we invite you to learn more about us and connect @ALIGNEDonRisk, on Facebook or LinkedIn.
