Business Insurance Brokers Oakville

Protect Your Business With the Right Commercial Insurance

As a business owner, ensuring your company is protected with business insurance is a smart move. Obtaining business insurance can protect you from losses to your business caused by accidents or unforeseen circumstances. Whatever the business size, Morison Insurance can help by providing multiple insurance quotes to help find you the best insurance coverages for your business.

At Morison Insurance, we want to give you the peace of mind that your business is protected. We understand that every business is unique, so we spend the time searching for the correct type of business insurance to suit your company. With access to over a dozen insurance providers in Ontario, our insurance brokers will compare quotes to find you the best coverage at a competitive rate.

Affordable Business Insurance in Oakville

We can find the best coverage tailored to your company’s needs with access to various online business insurance providers. We can also help you by providing a business insurance bundle that insures your automobiles, technology machinery and other assets. Our experienced Oakville business insurance brokers have been providing the businesses of Oakville and all of Ontario with affordable business insurance for many years and can provide you with the following:

• Business insurance quotes within minutes
• Competitive business insurance coverage
• Tailored business insurance bundles

What is Oakville Business Insurance?

Business insurance in Oakville—and everywhere else in Ontario—is an essential part of a successful plan for any business. It’s a package of insurance coverages that are uniquely designed to offer business owners protection from major financial setbacks if their business suffers losses from property damage, destruction or theft and also in the event that the business is litigated against for allegedly causing injury or property damage by various means.

Having the right commercial insurance in Oakville is essential to the success of your business because, at some point, every business is exposed to unexpected costs for liability reasons or to replace and restore property following a catastrophic event such as a fire. At the same time, most business owners don’t have hundreds of thousands or even millions of dollars available for a “rainy day.” They can’t cover those costs themselves without immense financial strain. When you have the best business insurance coverage in place to address all the perils your particular business is most likely to encounter, you can avoid paying those expenses out of pocket because your insurance company will provide compensation so you can recover your losses and get your business operating again as soon as possible.

Who Should Have Business Insurance in Oakville?

Regardless of the type of commercial enterprise, every business owner needs the financial protection of the right business insurance. Oakville businesses don’t all need the exact same types of insurance options. Still, they all need a robust commercial insurance package that addresses their specific insurance needs, from accountants and dentists to plumbers and landscapers.

What Are the Coverage Options for Commercial Insurance in Oakville?

As mentioned above, only some types of coverage are necessary for some business insurance packages in Oakville. However, most businesses need a few coverages, such as commercial general liability and commercial property insurance. Here are some of the varieties of Oakville business insurance coverage that may be right for your business and your commercial insurance policy.

Professional Liability Insurance

If you are a professional who provides services, designs solutions, gives professional advice, or advocates for the needs of others, you need professional liability as part of your business insurance in Oakville. That includes medical professionals, consultants, designers, engineers and many others. Also known as Errors and Omissions insurance, this type of coverage offers insurance compensation for costs such as legal mediation, attorney fees, court fees and settlements should you have legal action brought against you for reasons such as errors, professional negligence, bad advice, failure to deliver services, missed deadlines, acts of misconduct and more.

Commercial General Liability (CGL)

Commercial General Liability is a very common type of business insurance in Oakville because it applies to almost every type of business. It applies to the expenses incurred if you or your employee are sued for allegedly causing third-party bodily injury or third-party property damage. While you may think that’s unlikely to happen at your business, it’s far more common than you may think. A typical example of a commercial general liability claim is that someone enters your business and slips or trips, injuring themselves. They could then choose to bring legal action against your business to recoup medical expenses and other compensatory damages for causing bodily injury.

Commercial Property Insurance

No matter how cautious and meticulous you are, there’s always the potential for your commercial property and physical assets to be damaged in a fire, flood or natural disaster, by vandalism or theft, and by dozens of other potential perils. You need that physical space, along with the equipment and items contained inside, to offer your services or products, so if it’s damaged or destroyed, you can’t afford the cost of restoration on your own, you’ll be forced to close up shop for good. Commercial property insurance prevents that from happening by providing you with funds, up to the coverage limits listed on your policy, for expenses such as building restoration, replacing lost or destroyed items and much more, giving you the ability to get back on your feet as quickly as possible after a disaster.

Business Interruption Coverage

Suppose your commercial property, equipment or other items are damaged, destroyed or stolen. In that case, your commercial property coverage provides the funds necessary to get it back to normal—but projects like building restoration after a fire or replacing specialized equipment don’t happen overnight. While the recovery process is underway, you still have expenses you must deal with, such as lease payments, employee wages, rental costs for a temporary location and much more. Still, you may be unable to bring in any income, or at least not as much as usual. That’s why business interruption insurance solutions are so necessary. Business interruption insurance reimburses you for certain costs related to disrupting your standard business practices while you’re working to get your property back to its normal business operations.

Legal Expenses Coverage

Have you ever wished you could get some quick legal advice on a business matter or have a legal professional look over a document to ensure there aren’t any significant loopholes? Those are two of the services you can expect when you include legal expenses insurance with your business insurance in Oakville. It allows you to call a hotline for legal advice and access other minor legal services without needing to file an insurance claim, so you can get the assistance you need without impacting your insurance claims history.

Cyber Liability Insurance

This type of optional liability coverage should be more popular, given how frequently businesses of all sizes and descriptions need it. Cyber liability insurance applies to situations in which you suffer financial losses due to a cyber attack, which could be caused by hacking, phishing, social engineering and more. Many business owners, especially those with small businesses, assume they don’t need cyber liability because they don’t have anything cybercriminals are interested in, but that is probably not true. Suppose you conduct any business online, including payment transfers or storing sensitive information. In that case, you are vulnerable to a cyber attack that could result in litigation and all the costs that come along with it. Cyber liability coverage provides you with the funds to deal with those costs when a cyber attack hits you.

Other Types of Oakville Business Insurance

• Commercial Auto Insurance
• Fleet Insurance
• Surety Bond Insurance
• Product Liability Insurance
• Farm Insurance
• Directors and Officers Insurance
• Environmental or Pollution Liability Insurance
• Equipment Breakdown Insurance
• Party Alcohol Liability Insurance

How Much Does Business Insurance in Oakville Cost?

It’s only possible to offer an exact estimate by knowing a lot more about your unique business insurance needs because so many factors influence the cost of insurance premiums. The cost of Oakville business insurance varies widely based on a wide range of factors, such as:

• Types of coverage
• Coverage limits
• Type of business
• Years of experience
• Number of employees
• Insurance claims history
• Location of business

That said, you can generally expect it to start at around $1000 and go up for a standard package with the recommended liability coverage limit of at least $2 million.

Where to Get an Oakville Business Insurance Quote?

If you need competitive business insurance in Oakville and you need it fast, rely on Morison Insurance. Our experienced Oakville insurance brokers can help get you the coverage options you need. At Morison Insurance, we work for you—not for the insurance companies. Your best interests are our top priority, and we’ll work tirelessly to ensure you get the right business insurance. Oakville business owners, call us at 1-800-463-8074 for a free quote today!