Who Really Needs Business Insurance?

Types of businesses

These days in the Ontario area there are a lot of individuals and small business owners that are running a business right out of the confines of their home. However, just because you have the ability to wear a housecoat and fuzzy slippers to work doesn’t mean that you aren’t considered a real business. With that being said, this means that you need to be insured just like any brick and mortar business. You should know that homeowner’s insurance does not protect you in the event of a business-related issue.

However, this is not the only type of business issue that needs to be protected with commercial general liability insurance. Below, you will learn about some of the types of businesses that need to make sure that they are covered by commercial insurance.

Medical Physicians

Doctors and surgeons are probably one of the most acclaimed professions that a person could medical professionalschoose to go into. Individuals turn to you when they are sick to seek out answers and advice. Just because you went to school for many years and have a lot of medical knowledge doesn’t mean that you know everything or you will not make occasional mistakes. It is possible that you could give someone the wrong advice, leading to further injuries or you could make a mistake causing the patient to end up deceased. Whatever the situation is, business insurance could protect your livelihood and prevent you from getting sued.

Delivery And Service Business

Whether you have employees that are using company vehicles to deliver goods or perform service delivery businesswork, you are going to need some type of auto insurance coverage. The open road can be a dangerous place and an accident could occur in the blink of an eye. Even if your employee is not the one at fault, the law requires insurance coverage. You could end up in hot water if you are not carrying the proper coverage. Anytime you have employees using company vehicles you need to at least have basic liability coverage.

Construction Industry

The Ontario area is booming with new construction opportunities. New buildings and businesses contractors workingare going up every day. This is prompting many individuals to get into the construction business. However, you need to know that as a construction business owner, there are a lot of risks that come along with this type of work. Not being able to finish a project on time could result in a lawsuit. This is why it is imperative for any construction business to carry proper insurance.

Lawyers

Law is a type of profession that has been around for ages and will continue to thrive. Just about lawyers talkingevery business or individual out there will need a lawyer at some point in time. Whether you are dealing with a divorce, a lawsuit, or a criminal charge, you will need the services of a lawyer. However, if you are looking to open your own law practice you are going to need several different insurance policies. For one, error and omission insurance will be an absolute must. You will be giving people advice on a daily basis and if you give them advice that results in financial losses, it is possible that they might try to sue you.

Get covered as quickly as possible, so you can protect your business from frivolous lawsuits from unsatisfied customers!

Brick And Mortar Business Owners

Anytime you have a brick and mortar business that is host to frequent customers you are going to need property and liability insurance. In the event that someone slips and falls in your store, they could try to sue you for medical expenses. If something falls off a shelf and hits a customer, it is possible that they could try to sue you for this, as well. However, with the proper type of coverage, this is something that you will not have to worry about, because you will be covered. Get the right insurance, so your company’s employees will know that their future is protected to the fullest. Roughly 40,000 workers are injured at work, due to slips and falls every year. The number is similar for consumers.

Product Manufacturing

If you are offering a product to the local public, you are going to need to make sure that you are covered with product liability insurance. In the event that your product harms or hurts a customer, your company’s business insurance policy will protect you in Ontario, Canada.