1.General Liability Insurance: Even if your business is home-based, you will need liability insurance. It will protect the damage which your employees or products may inflict.
2.Property Insurance: If you have personal business property (e.g. premises), which includes office equipment, computers, etc., consider purchasing a business insurance to protect you from fire, any kind of vandalism, theft or other potential crimes.
3.BOP (Business owner’s policy):This business insurance covers everything you might need: business interruption insurance, vehicle coverage, property insurance, and crime insurance. Usually, business owners save on BOP because they can alter what is included there based on their needs.
4.Auto Insurance: Commercial auto insurance can protect your company’s vehicles carrying products, equipment or employees. With this type of business insurance you insure your work cars, vans or trucks from damage and collisions.
5.Compensation for a Worker: It provides insurance to employees injured at the job place and during the working time. Compensation insurance provides medical benefits and wage replacement to those who were injured at work. In exchange the employees promise not to sue the employer for the incident.
6.Professional Liability Insurance or Errors and Omissions Insurance:This business insurance provides defence and damages for any failure or wrong rendering of professional services. Liability policy does not provide such protection, so do not confuse them.
7.Officers and Directors Insurance: It protects the mentioned workers against their actions which can affect profitability of the company. If directors or officers of the company find themselves in a legal situation, this most popular type of business insurance in Toronto will cover costs or damages which the company lost as a result of a lawsuit.
8.Homeowner’s Insurance: This is one of the most important insurances that you will need. It can protect not only against damage to the home as a building in general but also against any damage to items inside the house. Also, this type may protect you from accidents that might happen at home or take place due to your own unsafe actions.
9.Life Insurance: Life insurance protects individuals against death. If you get a life insurance, your family will get a certain amount of money after your death. You pay a lot in exchange for the payment of benefits to the beneficiary. This type of insurance provides you composure with the thoughts that your loved ones will not be burdened financially after your death.
10.Personal Umbrella Insurance:This is an additional coverage for you, on top of all insurances that you already have. Personal umbrella insurance is an extension to the insurance policy that you have already purchased and which covers beyond the regular policy. This type of insurance will cover different kinds of claims, for example, homeowner’s or auto insurance. Generally, it is used only when you are not sure about the liability on other policies and your increments start from $1 million.
Jonas Peterson operates as a reviewer for a number of Internet content networks (consisting of businesses similar to GUTHRIE – life insurance brokers), who covers a mix of business and personal insurance topics and matters alike. A restless vagabond of online community and an influencer in anything noteworthy for the business and personal insurance.
Guthrie Insurance Brokers Ltd
505 Consumers Rd