All Risks - Business Insurance Ontario
Types of products:
Business Insurance Ontario – The most common types of business insurance (commercial insurance) purchased by a company are:
- Standard commercial property & casualty (P&C) policies such as: Property, General Liability, Umbrella.
- Directors & Officers (D&O) or general partner liability.
The specific policyLegally binding contract effecting insurance or certificates thereof, including all clauses, riders, endorsements and renewals. terms and conditions will differ between insurers. However, even though the core insurance products are standard P&C coverages, most companies require:
- Specialty coverage(s) such as: Environmental Insurance; Accident & Health
- Management liability products such as: Employers Professional Liability (EPL).
Your All-Risks Insurance broker will look for an insurerThe company providing the insurance coverage. that offers a broad array of products in order to simplify the administration of what could be a complex insurance program.
Price
Price is important to anyone – personally or professionally. However, it is critical to understand that no matter which brokerage or insurerThe company providing the insurance coverage. you are working with, the specific variables and/or needs of your protection will influence the insurance premium or cost for the policyLegally binding contract effecting insurance or certificates thereof, including all clauses, riders, endorsements and renewals.. Factors such as: the liability limit for the policyLegally binding contract effecting insurance or certificates thereof, including all clauses, riders, endorsements and renewals., required coverage or deductible, where the insuredThe entity (individual or otherwise) whose risk of financial loss from an insured peril is protected by the insurance policy. property is located, and even specific characteristics of the property will influence overall policyLegally binding contract effecting insurance or certificates thereof, including all clauses, riders, endorsements and renewals. premium.
Service and Reputation
Working with a broker/brokerage with a solid reputation for service will be instrumental –especially in the midst of a claim (minor or severe). Often cited as a top consideration when selecting which insurance brokerage to work with is the reputation the brokerage has for efficient and friendly claims management.
Another telltale sign regarding customer satisfaction is a brokerage’s “ Retention Rates”. The percentage of policies that are renewed with a brokerage will send a clear message about their level and effectiveness of customer satisfaction. Customers stay longer when they are satisfied with the service they have received, whether it involves a claim or not. Your insurance broker can provide you with this information, before you decide which of their carriers you will opt to select for your insurance policy(ies).
If you are looking for a business insurance quote in Ontario, please contact us. We also have online business quoting options for commercial property and commercial auto available at all the All-Risks locations across Ontario.
