Business Insurance in Canada: Compare Coverage and Get a Quote on Clearly Rate

Builders Risk Insurance in Canada

Mon, 01 Jan 0001 00:00:00 +0000

What is builders risk insurance?

Builders risk insurance, also called course of construction (COC) insurance, is property insurance for a building while it’s being built or renovated. It pays to repair or replace the structure and the materials that go into it after a covered loss, such as a fire, theft or water damage.

Business Interruption Insurance in Canada

Mon, 01 Jan 0001 00:00:00 +0000

What is business interruption insurance?

Business interruption insurance, also called business income insurance or loss of income insurance, replaces income your business loses and pays for expenses that continue while you can’t operate normally because of a covered loss, such as a fire. It’s usually added to a commercial property policy, not bought on its own.

Commercial General Liability Insurance in Canada

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What is commercial general liability insurance?

Commercial general liability insurance, often shortened to CGL and also called general liability insurance, pays when someone outside your business claims that it caused them bodily injury or damaged their property. It typically covers your legal costs to defend the claim, and any damages a court orders you to pay, up to your policy limit.

Commercial Property Insurance in Canada

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What is commercial property insurance?

Commercial property insurance, also called business property insurance, pays to repair or replace the physical assets of your business when they’re lost or damaged by a covered event, such as a fire, theft, vandalism or a storm. Depending on your situation, it can cover the building you own, the equipment and contents inside it, your inventory, and the improvements you’ve made to a space you rent.

Cyber Insurance in Canada

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What is cyber insurance?

Cyber insurance, also called cyber liability insurance, pays the costs of responding to and recovering from a cyberattack, a data breach or an online scam, and of claims that follow. It’s a separate policy because property and liability policies usually don’t respond to these losses.

Directors and Officers Insurance in Canada

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What is directors and officers insurance?

Directors and officers (D&O) insurance pays the cost of defending, and any settlement of, a claim that the people running a company made a wrongful decision in managing it. It’s built to protect their personal assets as well as, on some policies, the company itself.

Professional Liability Insurance in Canada

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What is professional liability insurance?

Professional liability insurance, also called errors and omissions (E&O) insurance, pays when a client claims that your advice, design or service cost them money. It responds to claims about the quality of your work, not to injury or damage to property.