What if your insurance program was simple, predictable, and controllable?
Business insurance is getting more complicated. You need a dedicated expert proactively working for your business so you can enjoy best-in-class insurance coverage and pricing. The insurance experts at CMB are honest, accountable, and hardworking and will do whatever it takes to solve your business insurance problems.
Every small business needs the financial and legal protection that business insurance provides. This coverage protects you from costly losses that could put you out of business and provides peace of mind that the risks you face are being managed effectively.
The first step in choosing insurance coverage for your small business is considering the risks you face. Here are some common threats to small businesses that you’ll want to be protected from:
Property insurance protects a commercial building and its contents from losses such as fire and theft. It comes in many forms to suit your specific needs. A typical policy will provide the replacement cost value for your building and the actual cash value for your business property.
This invaluable coverage safeguards your business by covering operating expenses and lost income while the permanent business location is being repaired. This will allow you to maintain payroll and, if needed, reallocate current employees to help with the cleanup effort.
Protect your assets by carrying adequate Commercial General Liability (CGL) Insurance coverage. CGL policies provide coverage for claims of bodily injury or other physical injury, personal injury (libel or slander), advertising injury and property damage resulting from your products, premises, or operations.
Key Person Losses
Many small businesses are built around the talents and expertise of a few individuals. Suppose an employee crucial to the functioning of your business departs unexpectedly due to death or injury. Would day-to-day operations continue as usual, or would disorder and uncertainty ensue? Would you be able to maintain your current level of performance and current revenue stream? How would you cover the financial loss of the employee or pay for a temporary replacement during his or her recovery? Key Person Insurance can help you answer these questions with confidence. This coverage provides financial stability in times of stress and uncertainty, allowing you to keep your business moving forward without missing a beat.
If your business stores customer records electronically, it is crucial that you have robust security measures in place. In addition to taking preventative measures to reduce Internet-based exposures, specialized technology coverage, such as Cyber Liability Insurance, can help protect your business against damage from cyber-attacks, data breaches and other Internet-based exposures.
Why do I need Small Business Insurance?
- Protection for property, tool, supply and equipment losses due to fire, vandalism, theft and more
- Protection for equipment breakdowns
- Protection for liability losses due to injury or third-party property damage
- Protection for errors and omissions
- Protection for loss of income due to business interruption and more
- Protection for automobile losses due to accidents and vandalism
- Protection for cyber losses due to data loss, credit card breach and other digital threats
What types of coverage are available for your small business?
Small business insurance is a general term encompassing many unique insurance policy types that apply to a business. Each Alberta business requires a unique package of insurance products that address all of its particular coverage needs.
Some examples of the many types of business insurance are:
These various types of insurance cover anything from damage to your business premises resulting from a storm, to a claim made against you regarding advice you provided.
Most small businesses will at least require Commercial General Liability Insurance and Commercial Property Insurance.
How much does small business insurance cost?
The cost of business insurance varies greatly depending on factors such as:
- Size of business
- Claims History
- Number of employees
We will help you determine which coverage you need and find the best option.
Contact us today to learn more about the Alberta small business Insurance solution that’s right for you.
Read more about Small Business Insurance:
Business Insurance Products
Top 10 Threats to Small Businesses
The Importance of Updating your Property Insurance Values