If you run a business in Ontario, Canada, you’re going to need small business insurance. Most people understand that getting insurance is not always easy. You are definitely going to need to jump over a few hurdles. Nevertheless, getting insurance isn’t a complete nightmare. In fact, it is going to be fairly simple as long as you know how to move forward.
Within this comprehensive 5 step guide, you’re going to find the steps that you’ll need to follow to get the insurance that you need to fully protect your business.
1. Learn About Your Options
First and foremost, you need to take the time to learn a great deal more about your options. When you begin researching business insurance, you will discover that your options are plentiful. Would you purchase anything without reading reviews or learning more about the product in question? The answer is no and you should treat business insurance the same way. Before moving forward, you need to do as much research as possible. Find out what insurance coverages are available to you.
Learn about the limits that may be imposed. You won’t need to spend too long doing research. Twenty or forty minutes will make a big difference in the long run. If you do not do enough research, there is a good chance that you’re not going to get all of the coverages that you need to fully protect your business. Or, you might fail to get the right limits. Suffice to say, it is highly recommended that you do your research. Alternatively, you can speak with the professionals at ProfessionalsCoverage.
They’ll guide you in the right direction.
2. Learn More About Your Business’ Needs
There is no doubt that each and every Ontario business is different. The specific needs of your business will depend on various factors, including your industry and business size. After you’ve learned a little more about your commercial insurance options, you should determine which ones you actually need. Most Ontario businesses will need at least general liability insurance. If you own property that your customers visit on a regular basis, you may also need property insurance. A BOP or business owners policy can help.
Do not follow what other companies in your industry have done. While you may share some similarities with them, there is a possibility that your insurance requirements are going to differ. Therefore, you really need to figure out precisely what your business needs to be shielded from any and all potential problems that could arise in the future.
3. Acquiring Quotes
After you’ve taken the time to figure out what types of business insurance your company needs, you’re going to need to find out how much you’ll be required to pay. The good news is that this will be much easier than you could ever imagine. In fact, it won’t be too difficult at all. You should be able to follow several paths to acquire the information that you need. If you work with ProfessionalsCoverage, you’ll be able to get a quote within a matter of minutes and you have several options at your disposal.
First and foremost, you could use the form on our website. Just fill it out and hit submit. After a few minutes, you should get the small business insurance quote that you requested. You can also contact us by phone. Or, you can email us directly. Either way, the insurance experts at ProfessionalsCoverage will provide you with the information that you’re after as quickly and conveniently as humanly possible.
4. Check It Again before Purchasing
Once you’ve gotten everything sorted out, you’ll want to go ahead and check out your policy options once again. Review your information make sure that everything is accurate. If something is out of the ordinary or a coverage option has not been added, you should make changes accordingly. Remember that you might not be able to change the policy again until you’re ready to renew it. However, some policies such as workers compensation coverage can be altered at any time. With that being said, you should take your time and doublecheck everything. This will greatly decrease the likelihood that you’ll make an error along the way.
After you’ve reviewed your policy and have made your first payment, ProfessionalsCoverage will work diligently to help you acquire your proof of insurance as quickly as possible.
5. Renewal – Make sure you review
Most policies, especially project based E&O insurance policies also known as professional liability insurance are going to last for a term of one year. Therefore, you’ll need to renew your small business insurance policy each year. This might seem like a hassle, but you can use it to your benefit. Once a year has passed, you should go ahead and review your policy once again. After all, there is a chance that your business situation has changed over the course of the year. Make the necessary changes before renewing your policy.
Figuring out how much you’re going to be required to pay will be easier than you could ever imagine. Just get in touch with us at ProfessionalsCoverage.
Get started today by getting a quote online or over the phone
