Easier Business Insurance Solutions: LMBF Commercial Insurance
Running a business exposes you to risks that you may not otherwise face in your ordinary day-to-day life. It’s just a fact of life: being a business owner is inherently risky. That doesn’t mean you need to sit back and hope nothing bad ever happens. Business insurance offers a wide range of protections for various types of commercial enterprises and organizations, protecting properties, equipment, commercial vehicles, unexpected interruptions, and liability. Because businesses exist in all sizes and scales, commercial insurance policies should never come as a “one-size-fits-all” type of deal. LMBF makes sure that every business gets unique covered tailored to its specific needs.
Commercial Lines Insurance - What it Covers
Property
Assuming your business operates out of a brick-and-mortar property, that building needs to be covered as well. Fire, hail, and wind are all prevalent risks to your business and its equipment. The same goes for any commercial vehicles your business may utilize. Commercial property insurance can cover your property and assets from a wide range of potential exposures.
Liability
Businesses face liability risks like no family or individual does, largely due to the fact that they deal with a large number of clients and other third parties on a daily basis. If a dissatisfied customer sued, you could be on the hook for some serious costs - whether or not their accusations were true or not. Your business insurance coverage offers liability protection.
Interruptions
Depending on your business insurance coverage options, your policy may include coverage for covered losses causing interruptions and can reimburse you for expenses such as payroll, loss of revenue, ongoing bills, rent, and so on. Business interruption insurance can ensure your business is able to reopen its doors following an unexpected loss.
- Commercial property
- Commercial liability
- Unexpected events
- Interruption
- Undocumented income
- Intentional damages
- Maintenance damages
- Flooding and earthquakes
Is business insurance in Canada mandatory?
Business insurance in Canada is only mandatory for some industries, whereas for others it is highly recommended. All businesses should carry insurance - even small businesses. Insurance for commercial enterprises is a small added cost next to what it could take to financially recover following a liability loss, devastating natural event, break-in, or other event causing loss. Simply put, commercial insurance is something many organizations cannot do without. In some cases, clients will refuse to work with businesses that cannot show proof of insurance, and some industries may be legally required to carry professional liability insurance.
Sectors We Serve Business insurance
Healthcare
- Occupational therapy
- General physicians
- Optometrists
- Physical therapists
- Psychiatrists
Our Commercial Insurance partners
Businesses work hard to get themselves off the ground and start generating success in the complex world of commercial enterprises. LMBF partners only with the best commercial insurance carriers to ensure that, when we help shop around for a business insurance quote, that you only ever receive options with coverage that matches your needs for a price that won’t break your budget. Whether you need small business insurance or any specialized option, we are confident that we can help you find a match from our partners.
