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What Does Business Insurance Cover?

Business insurance is an umbrella term that includes many types of insurance businesses can have that protects them from unforeseen events that may happen during the routine operation of their business. 

Having the right insurance can protect you from losses, and also covers the cost of repairs or helps you navigate legal fees should the worst happen.

What Type of Business Insurance Do You Need?

The right answer is your business is unique and requires a unique policy and structure. That is why it’s imperative to have an expert review your incredibly specific needs. Business insurance can protect your business assets from theft, damage, liability, and more. No matter the type of business you run or how many employees you have, insurance is an important aspect of operating a successful business.

Sutherland offers several types of coverage, including:

  • Commercial General Liability & Property: safeguard the financial stability of your business against a range of risks and liabilities, including natural disasters, bodily injury, or property damage.
  • Cyber Insurance: preventative coverage to make sure your business can respond effectively and appropriately should you fall victim to a Cyber attack.
  • Contractors Insurance:insurance policies designed to protect contractors against various risks and liabilities associated with their construction or contracting business.
  • E-Commerce Insurance: from dropshipping to Etsy stores, e-commerce liability insurance protects businesses doing business online.
  • Office Insurance: cover the risks and potential damages associated with running an office.
  • Absentee Landlord Insurance: if you own a rental property but live in another city, protect your income source from disasters, lawsuits, and income loss.
  • Errors & Omissions Insurance: for businesses involved in giving advice or guidance, shield yourself from financial repercussions stemming from advice provided to clients or shareholders.
  • Director's & Officers Insurance: help your business navigate the complexities of corporate governance and leadership transitions with confidence.
  • Manufacturing Insurance: cost-effective packages tailored for manufacturing industries, covering property, equipment, business interruption, and more.
  • Warehouse Insurance: customized solutions for diverse warehousing risks all over North America, ensuring optimal coverage and pricing.
  • Student Housing Program: comprehensive coverage for property, liability, and tenant-related risks, supporting up to 10 students per residence.
  • Fleet Insurance: ranging from small to large commercial vehicle fleets with substantial liability coverage, rental loss protection, and flexible policy additions.

How Much Does Business Insurance Cost?

Every policy is different, whether you’re a small business in Guelph or have locations throughout Ontario. The cost of your insurance depends on:

  • Your industry
  • Location of your business
  • Insurance claims history
  • Years in business
  • Number of employees
  • Annual revenue
  • Coverage limits

To get an accurate quote, it's crucial to speak with one of our qualified brokers to understand your needs. They can:

  • Identify gaps in your coverage
  • Help you understand the complexities of business insurance
  • Offer tailored insurance options that suit your needs

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Other Business Insurance Types We Offer

  • Agri-Business Insurance
  • Aviation Insurance
  • Bonding
  • Business Automobile Insurance
  • Employee Group Home & Automobile Insurance Programs
  • Marine Insurance
  • Non-Profit Housing
  • Transportation & Trucking
View industries we've insured

Frequently Asked Questions

Is insurance required to run a business in Canada? 

There is no law mandating business insurance in Canada, except for commercial vehicles. However, depending on your industry, business insurance coverage may be required by certain stakeholders or partners prior to doing business with you.

Who needs business insurance?

Whether you’re a local business owner or the head of a large corporation, business insurance protects you against unforeseen events. Common types of business insurance products protect you from incidents such as cyber attacks, theft, liability claims, or even natural disasters.

What about small business insurance?

The team at Sutherland Insurance are experts in business insurance in Ontario, whether you’re a large corporation or a small business in our hometown of Guelph. We can find a policy that fits your needs and ensure the cost of small business insurance fits your budget.

Do I need business insurance if I work from home?

For sole proprietors or small business owners who work from home, business insurance is highly recommended. Running a business from your home may void your home insurance under certain circumstances, so it’s best to make sure both your home and business are covered.