What Small Businesses Need to Know About Commercial Insurance In Ontario

When it comes to auto insurance, small businesses need to know a few things. First, they need to understand what commercial insurance is and what it covers. Second, they need to know the different types of coverage that are available. Finally, they need to make sure they are getting the right type of commercial vehicle insurance for their business.

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Commercial insurance is designed to protect small businesses from accidents and liability claims. It can cover things like car accidents, property damage, and workers' compensation. Different types of coverage can be important for different businesses. For example, property damage coverage can help protect businesses from damage to their property caused by an accident. Workers' compensation coverage can help businesses pay for medical expenses and lost wages if someone is injured on the job.

Small businesses should always speak with an insurance agent about what type of coverage is best for their business. An agent can help identify any gaps in coverage and recommend the most appropriate policy for your business.

It is also important for small businesses to understand their deductible. This refers to the amount of money that the business must pay out of pocket before insurance will start working. Small business should determine their deductible based on the value of their assets and the potential liability that they may face.

Lastly, small businesses should make sure that they have proper auto insurance documentation in case of an accident. This includes copies of all policies, certificates of insurance, and proof of ownership.