Commercial Auto - Will also depend on your radius of operation, type of cargo/product and all listed drivers. Local radius coverage should be about $2500-$3000 a year.Canuck55 wrote: ↑Jan 14th, 2016 12:36 pmI am looking onto starting up my own business (very preliminary stages; first time as well so I am learning as I go) and have a few questions regarding needed insurance. The business involves selling a consumer good direct to the public in the GTA via online channels. A local manufacturer will be making the product for me, but I will likely have to warehouse it (5000 sq. ft should be sufficient to start) and deliver it to customer's homes. The delivery of the product will require a 20ft box truck and I am wondering what kind of ballpark pricing commercial vehicle insurance will run (I have a clean driver's abstract, 43 yrs. old been driving since I was 16). What other kinds of insurance should I be considering? There will only be two employees to start, myself and my partner. I am just looking for ballpark figures at the moment to help with financial side of the business plan.
Business Liability- Depended on the product, amount of annual sales, and if you would sell any in USA- Basic liability usually costs under $1500 a year.
You can contact me again once you have more details ready. Good luck!
All posts on this forum are for information purpose only and can't replace your policy contract. Please contact your own broker, agent or company before acting on my suggestions. There is more to insurance than just price!