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Business Insurance (Business Insurance in Canada)

Vieira Insurance works with top commercial insurance providers to give business owners the insurance coverage they need to protect their business and assets.

We understand how important businesses are, and we have coverage options designed specifically to meet businesses demands.

Commercial General Liability Insurance

Commercial general liability insurance (CGL) protects your business against claims of bodily injury, property damage, and advertising injury. It covers the cost of defending lawsuits that could result in a judgment against you or your company. CGL also provides coverage for legal defense costs if an insured person has been sued by a third party and loses.

Why should you buy commercial general liability insurance? If you own or operate a business, you need to have commercial general liability insurance. Your policy will cover:

  • Bodily injuries caused by employees, contractors, customers, or others;
  • Property damage from accidents involving your products or equipment;
  • Legal expenses incurred as a result of a lawsuit or investigation; and
  • Advertising injury resulting from your use of another’s trademark, slogan, or another advertisement.

Contractors Insurance

Contractors insurance is a type of general liability insurance that protects the contractor and their employees from claims made by third parties. It also covers you as an owner or manager for any damages caused to your property, including damage to the work done on it. The policy will cover all types of construction projects, whether they are residential, commercial, or industrial in nature.

The most common contractor’s insurance policies include:

  • General Liability – This covers bodily injury and property damage resulting from the negligence of a contractor. It also includes claims for personal injuries, such as slip-and-fall accidents or other injuries caused by defective workmanship.
  • Property Damage – The policy covers physical damage to your property such as walls, floors, fixtures, furnishings, etc.
  • Liability Coverage – The policy covers bodily injury, personal injury, and property damage resulting from negligence. Liability coverage is required by law in all states.
  • Workers Compensation – This type of coverage protects you against claims made by employees for injuries that occur at work. Workers’ compensation does not cover any liability or property damage caused by the insured’s own acts or omissions.
  • Commercial Auto Insurance – This type of coverage provides protection if a vehicle owned by an insured person is involved in an accident while being used for business purposes.

Business Owners Policy (BOP) – A BOP is designed specifically for businesses. It can be purchased separately from general commercial insurance policies or it can be included with a general commercial policy.

Professional Liability Insurance

Professional liability insurance protects professionals from claims made against them for their work. This includes doctors, lawyers, accountants, and other professions that are regulated by government or professional bodies. It also covers the costs of defending these claims.

The key benefits of this insurance include:

  • Protection against legal action brought against you as a result of your work
  • Reduced stress levels when dealing with clients and colleagues
  • Peace of mind knowing that if something goes wrong at work, you will be covered to help pay any resulting financial loss

Builders Risk Insurance

Builders risk insurance helps you protect your business from the unexpected. It provides financial protection for a wide range of risks, including:

  • Losses caused by fire or other hazards
  • Damage to property and equipment
  • Theft of materials and supplies
  • Accidents at worksites
  • Legal liability claims against you

As a general rule, builders risk insurance covers losses that occur during construction activities, but not those that arise after completion. However, some policies also cover losses that can happen after the completion of the project. 

For example, if you have an office building that catches fire, it may be covered under the policy even though it’s already been completed.

If your home or commercial building suffers damage due to fire, windstorm, storm surge, vandalism, earthquake, falling objects, lightning, or any other cause, your builder’s risk insurer will pay for repairs up to the limit of coverage in your policy. 

The amount of money paid out depends on how much of the structure was damaged and whether the loss occurred before or after the completion of the project (known as “completed operations hazard”).

Building Owner Insurance

Building owner insurance (BOI) covers the building and its contents, including any improvements to the property. It also includes liability coverage for injuries or damage that may occur in your home or business. The policy will cover you if someone else causes an accident on your property. Any business with a physical location needs it. If you rent space in a commercial building or lease office equipment, BOI will protect you against losses caused by a covered event.

Commercial Auto Insurance

Commercial auto insurance, also called commercial vehicle insurance, is a type of automobile insurance that covers vehicles used for business purposes. 

These include trucks, vans, and other large vehicles like buses or tractor-trailers. 

The coverage offered by commercial auto insurance varies from place to place. In some cities, the policy will cover all types of vehicles while in others it may only cover certain types of vehicles. 

E&O Insurance

E&O insurance, or Errors and Omissions (E&O) insurance, is a type of professional liability coverage that protects professionals from lawsuits resulting from their negligence. It covers the costs associated with defending against such claims, including attorney fees, court costs, settlements, judgments, and other expenses. 

In addition to protecting you personally, it also helps protect your business by providing financial protection for any losses incurred as a result of an error made on behalf of your company.

Restaurant/Hospitality Insurance

Restaurant and Hospitality insurance protects your business against a wide range of risks. It can cover the cost of damage to equipment, loss or theft of stock, liability for injuries caused by customers, and more. It’s important that you have a policy in place as soon as possible after opening your restaurant because it will protect you from many common problems before they occur.

The hospitality industry has many unique challenges that are not shared with other industries. The most common risk faced by restaurants and bars is fire, which often results in significant financial losses. If you don’t have restaurant insurance, you could be liable for these costs if someone gets hurt on your premises.

You also need to consider the possibility of being sued for negligence. This is especially true if you allow minors to drink alcohol at your establishment. You may be held responsible for any injury sustained by them.

Office Insurance

Office insurance is a type of business insurance that protects your company from risks associated with the use and ownership of office equipment. It can also include coverage for other types of property, such as computers or furniture if they are used in an office environment.

It’s important to understand what type of coverage you need before purchasing this type of policy. This will help you make sure you get all the benefits you want and avoid unnecessary costs.

Why should you go with Vieira Insurance?

A simple and cost-effective method of purchasing company and commercial insurance.

We assist Canadian company owners in saving time and money by providing a variety of commercial insurance options at affordable premiums.

What does Commercial Insurance cover?

Commercial insurance is a type of insurance that protects the owner or operator of a business from financial loss. It covers risks associated with running your business, such as theft of inventory and equipment, fire damage to buildings, liability for injuries caused by employees while on duty, etc. The types of coverage available depending on the size and nature of your business.

Who needs Commercial Insurance?

If you are a business owner, then it is important to know that commercial insurance is not just for large companies. In fact, small businesses can also get commercial coverage through the same company as their homeowner’s policy.

What does Commercial Insurance not cover?

Business insurance covers incidents involving third parties but does not usually cover you or your employees. It doesn’t cover contractual liabilities, intentional criminal acts, a guarantee of costs, or estimates of costs you provide.

Frequently asked questions about Commercial Insurance

How much Commercial Insurance do I need?

The amount of commercial insurance you need depends on the type of business and its location. It also depends on how many employees your business has if it is a sole proprietorship or partnership, what kind of assets your business owns (for example, does it have inventory?), and whether your business is located in an area where there are high risks to property and/or people.

Does Commercial Insurance cover personal use?

Commercial insurance generally does not cover personal use. Therefore, you cannot replace home insurance coverage with business insurance. However, there are exceptions. If you run your business from home, consider protecting this space with business property coverage. If you use your car for business purposes, it might be covered under your commercial auto insurance policy. Home insurance usually doesn’t cover the physical assets associated with your business, such as stocks or inventory, or liability risks that occur in your homes. It can be confusing so we recommend talking to a broker to understand the limits and restrictions of your business liability insurance policy.

If you want to protect your home and business, you may want to keep them separate by insuring your assets with a business and home insurance policy.

Do I need Commercial Insurance if I work from home?

If you are a freelancer, self-employed, or an independent contractor, you may be wondering whether you need commercial insurance. The short answer is yes. In fact, it’s one of the most important things to consider when starting your own business.

Some personal home insurance policies may cover some personal items you need for work, but most often they won’t cover items used for work. If you lose your home or equipment that prevents you from doing your job, the loss of income won’t be covered by your home or business insurance.