Commercial General Liability Insurance Red Deer
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Comprehensive Business Insurance Solutions in Red Deer with EasyCover
Your business, whether small or large, is your livelihood. You want to grow, maintain, and protect it. We can take care of the protection part. Businesses face a lot of risks that threaten their sustainability, like third-party lawsuits and unexpected events.
With business insurance coverage, you can worry less about the effects of these threats and focus more on keeping your business up and running.
EasyCover Insurance specializes in providing different types of commercial insurance. Let us guide you through the process of getting commercial general liability insurance in Red Deer. Learn more about business insurance and start protecting your business in Red Deer now!
Why Is General Liability Insurance in Red Deer is Important for Your Business?
Under Common Law, businesses in the majority of Canada owe the public duty of care. which means they should take care not to impose any harm of any kind to others. If someone claims that your business caused harm, you might be subject to a lawsuit. Not all businesses have the resources to pay the legal fees or medical expenses to cover the damage.
We understand that this could happen to any business, even if the business owner did nothing wrong. That’s why we help you with business insurance that can cover all the expenses, protecting your business from financial loss.
Protect your business today. Call now for a free quote on Commercial general liability insurance from Easy Cover Insurance!
What Does Business Insurance in Red Deer Cover?
Bodily Injury
Accidents happen. Anything that results in body injury to another person, even if they slipped and fell on wet floors, can lead to a bodily injury claim. Customers, vendors, employees, delivery and maintenance personnel, and anyone who visits your business can file this claim. Bodily Injury coverage covers medical expenses, lost wages, or more.
Property Damage
If your business causes damage to any property inside or outside your premises, you might get sued. For example, if an employee damages a client’s property, the client can file a lawsuit. This coverage will pay for the legal fees in that case.
Product Liability Insurance
This coverage protects you against claims made relating to your product. For example, if you sell a faulty machine that injures a client or damages their property, they can take legal action. This coverage also includes service providers, so if you provide landscaping services, for example, damage ensued could lead to a lawsuit.
Personal and Advertising Injury Liability
This coverage protects you if a client or customer accuses you of inflicting non-physical damage upon them. Examples include accusations of slander, libel, false arrest, malicious prosecution, wrongful eviction, violation of privacy rights, copyright infringement, or any non-physical harm or damage.
Tenant’s Legal Liability
Another type of business insurance coverage, Tenant’s legal liability insurance is also known as tenant insurance. Many landlords require you to have this if you operate your business on their property through leasing. This coverage can protect you in case you cause accidental damage to the rented unit.
Get the coverage you need for your business. Call now and get a free quote on Commercial general liability insurance in Red Deer from Easy Cover Insurance!
Red Deer Commercial General Liability Quote
What Other Insurance Coverage Does Your Business Need in Red Deer?
Data breach/cyber risk Insurance
Cyber liability insurance is becoming more and more essential with the increasing rate of cyber-attacks. This coverage covers the expenses in case of computer hacks, data breaches and other cyber risks. There are many types of cyber liability insurance.
Professional Liability Insurance
This is known as errors and omissions insurance coverage (E&O). If a customer or client claims that you’ve given bad advice, leading to losing money, professional liability insurance in Red Deer can help you recover financially.
Equipment breakdown insurance
This insurance pays for replacing your equipment or machinery, if they fail or get damaged by electricity.
Commercial auto insurance
You may require this insurance if you or your employees operate vehicles for business purposes. If the number of business vehicles is five or more, you may need fleet insurance.
Directors and Officers Liability Insurance
D&O liability insurance will help you If your business has a board of directors, this insurance protects from personal financial liability claims related to decisions made by the board.
Employment Practices liability insurance
If one of your employees files a lawsuit against your business for harassment, discrimination, or wrongful termination, this insurance pays legal fees and covers potential damage.
What Is Not Covered by CGL Insurance in Red Deer?
Your business insurance policy doesn’t include lawsuits stemming from:
- Intentional criminal acts
- Patent infringement
- Contractual liability
Call now to get a free business insurance quote in Red Deer! Our knowledgeable CGL insurance brokers can help you find the best CGL policy and get adequate insurance.
How Much Does Business Insurance Cost in Red Deer?
CGL Insurance Quotes in Red Deer vary depending on a few factors. If you opt for a basic policy with a 2M limit for your small business, you will pay $450 per year approximately. Factors that determine the cost of CGL include:
- Industry: Some industries are riskier than others. A marketing company is less likely to file a claim than a construction company.
- Business size: A big company with lots of employees and a big income is riskier to cover than a small business.
- Location: Some locations are more prone to theft, natural disasters, and accidents.
- Claims History: Insurance companies consider companies with a long history of claims to be more likely to file more future claims.
How to Get Cheaper Red Deer Commercial General Liability Insurance?
- Implement risk management strategies – Risk assessment and management may help you avoid the probability of filing a claim. Consider the types of risks that could happen to your business and find ways to prevent them.
- Shop around for different quotes – Don’t settle for the first quotation you’re offered. Compare different insurance providers and choose the one that fits your budget and needs.
- Get expert help – Consult the EasyCover expert brokers. They will help you find the best deal in no time.
- Make fewer claims – Only make claims when you have to. For example, if you can pay to fix property damage out of your pocket, you could avoid making a claim to the insurance company.
Ensure your projects are covered. Call now to get a free quote for Commercial general liability insurance with Easy Cover Insurance
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How to Avoid Making a Business Insurance Claim
Making a business insurance claim can sometimes be necessary to save your business operations. Here are some tips to avoid needing to make frequent business insurance claims.
- Adhering to safety regulations in your industry and using the right equipment can reduce the likeability of an accident.
- Train employees on your business standards and brand image. This way you avoid being liable for them providing bad advice or false advertisements. Also, instruct employees not to post negative information about another brand or business, as this might result in a slander and libel lawsuit.
- Handle client equipment with care to avoid damaging it. Moreover, to avoid unnecessary claims, document the state of the item before working on it.
CGL Insurance in Red Deer FAQs
It’s not mandatory to get commercial insurance coverage. However, commercial insurance policies protect red deer business owners against lawsuits and claims that can leave the business short on money.
There are several key differences between a CGL policy and a professional liability policy.
A CGL policy will protect your business from claims submitted for bodily injury or property damage, while professional liability insurance protects you financially against claims for errors and omissions from providing advice and other professional services to clients.
This insurance covers personal injury claims if your client falls on your equipment, for example. If you are a personal trainer and one of your clients sustains injuries while exercising under your guidance and sues you, you will need to pay legal fees. A professional liability insurance policy gives you this protection. Check out our blog on determining if your business needs professional liability insurance.
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The amount of coverage needed differs from one business to another. Generally, consider purchasing as much as you can afford to get more protection for your business. Many factors can help you decide which insurance coverage options to include, like the size of your business and level of risk exposure.
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