Entrepreneurship & Small Business

Ask me anything about Business or Commercial Insurance!

Sr. Member
User avatar
Jan 8, 2009
830 posts
66 upvotes
GTA
NEMESIS_2008 wrote: Broker
May be they never did a bond or something. Like I said before, some documents and details are needed to setup a bond facility. Once done, you can get multiple bonds issued.
Insurance & Financial Advisor

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!
Newbie
May 19, 2013
16 posts
4 upvotes
Toronto
I run a moving business. My goal is to insure customers personal property during moving/handling process specifically damaged items, walls, floors and etc when it happens.
I have business liability and cargo insurance however my insurer claims that liability is only good when i was taken to court and cargo is for goods in transit. What is a good option for me to insure customer stuff and property in case we damage something.
Sr. Member
User avatar
Jan 8, 2009
830 posts
66 upvotes
GTA
aksanteg wrote: I run a moving business. My goal is to insure customers personal property during moving/handling process specifically damaged items, walls, floors and etc when it happens.
I have business liability and cargo insurance however my insurer claims that liability is only good when i was taken to court and cargo is for goods in transit. What is a good option for me to insure customer stuff and property in case we damage something.
Those are mostly small. You can look into DAS Legal expense that may cover third party claims that arise due to breach of contract, etc.
Insurance & Financial Advisor

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!
Sr. Member
Apr 1, 2009
669 posts
970 upvotes
Winnipeg
Insurance-Broker wrote: You should have at least liability for the business/operation.
Thanks for the response. Whate level of liability would you suggest for a business with no visitors? I am being quoted 2 mil for coverage. Declined from a couple of places due to sales to the US.
Jr. Member
Jun 12, 2017
158 posts
70 upvotes
I'm looking at opening my own personal training studio in the next 12 months. I was just wondering how much I should expect to pay in commercial insurance for a space that is 400-800 sq ft with about 10k worth of equipment in it. Could you point me to some required reading as well? Thank you for keeping this thread running. We appreciate it!
Sr. Member
User avatar
Jan 8, 2009
830 posts
66 upvotes
GTA
100 wrote: Thanks for the response. Whate level of liability would you suggest for a business with no visitors? I am being quoted 2 mil for coverage. Declined from a couple of places due to sales to the US.
2 Million is minimum. You should be able to find something or else send me the details and we can get it with the Lloyd's market
Insurance & Financial Advisor

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!
Sr. Member
User avatar
Jan 8, 2009
830 posts
66 upvotes
GTA
SauceLife wrote: I'm looking at opening my own personal training studio in the next 12 months. I was just wondering how much I should expect to pay in commercial insurance for a space that is 400-800 sq ft with about 10k worth of equipment in it. Could you point me to some required reading as well? Thank you for keeping this thread running. We appreciate it!
Basic liability for the space would be about a $1000 a year. Professional liability would be based on your business details.
Insurance & Financial Advisor

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!
Jr. Member
Jun 12, 2017
158 posts
70 upvotes
Insurance-Broker wrote: Basic liability for the space would be about a $1000 a year. Professional liability would be based on your business details.
Thank you for your reply.
Newbie
Nov 21, 2018
8 posts
Hi
I know this is an old thread, but am in need of liability insurance for my business that makes and supplies custom metal and wood sliding doors and hardware and restaurant tables and chairs. I work out of my home garage. I have been getting quotes of $150 month, but this seems high. Anyone know of a reliable insurance broker with reasonable prices in BC?
Deal Addict
Oct 7, 2008
2681 posts
1732 upvotes
Home
Is the OP still attending to this thread? Their last response was in 2017. Hopefully they are, very useful thread.
Fizz Mobile $ 4.80 USA CAN 45 GB
Sr. Member
User avatar
Jan 8, 2009
830 posts
66 upvotes
GTA
I RFD wrote: Is the OP still attending to this thread? Their last response was in 2017. Hopefully they are, very useful thread.
Thanks for bumping an old thread! Let's hope others can find it useful as well.
Insurance & Financial Advisor

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!
Newbie
Sep 19, 2017
16 posts
This is a great thread! I'm starting a small boutique selling local items (clothing, beauty products, etc). I'd like the minimum insurance - whatever I'll need for the landlord/lease. It will mostly be me working on the space. Any ideas where to start in BC? Thanks!
Sr. Member
User avatar
Jan 8, 2009
830 posts
66 upvotes
GTA
likestimelords wrote: This is a great thread! I'm starting a small boutique selling local items (clothing, beauty products, etc). I'd like the minimum insurance - whatever I'll need for the landlord/lease. It will mostly be me working on the space. Any ideas where to start in BC? Thanks!
Something like this should be no more than $1000 a year. Try checking a local broker in your area.
Insurance & Financial Advisor

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!
Deal Addict
Nov 14, 2006
3148 posts
1952 upvotes
GTA
@Insurance-Broker wife was thinking of working from home (hairstylist),would we need to let our home insurance know if we do this? if so what would be need to get? costs ?
Had a talk with them a while ago and they were stating no signs in front or around house and some strange things that you would want to do having a business like that in your local area.
Deal Addict
Oct 7, 2008
2681 posts
1732 upvotes
Home
How does a rental car company acquire and provide auto insurance (liability, comprehensive, collision) to their clients (the people who rent their cars)?.

Rental car companies usually allow the renter to "buy" daily insurance on the spot, ad-hoc. However, when I looked into commercial car insurance policies for rental vehicles owned by a car rental company, there is no such option, a rental car company owner can only purchase commercial auto insurance which covers the drivers/renters all the time, the driver/renter cannot opt-in or opt-out of it. This full time insurance option is obviously very expensive for the car rental company.
Fizz Mobile $ 4.80 USA CAN 45 GB
Sr. Member
User avatar
Jan 8, 2009
830 posts
66 upvotes
GTA
lilmikey wrote: @Insurance-Broker wife was thinking of working from home (hairstylist),would we need to let our home insurance know if we do this? if so what would be need to get? costs ?
Had a talk with them a while ago and they were stating no signs in front or around house and some strange things that you would want to do having a business like that in your local area.
I would get separate coverage for the business. You still need to mention to your personal insurance company that business in being run from the office. Cost should be $750-$1000 a year as a startup.
Insurance & Financial Advisor

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!
Sr. Member
User avatar
Jan 8, 2009
830 posts
66 upvotes
GTA
I RFD wrote: How does a rental car company acquire and provide auto insurance (liability, comprehensive, collision) to their clients (the people who rent their cars)?.

Rental car companies usually allow the renter to "buy" daily insurance on the spot, ad-hoc. However, when I looked into commercial car insurance policies for rental vehicles owned by a car rental company, there is no such option, a rental car company owner can only purchase commercial auto insurance which covers the drivers/renters all the time, the driver/renter cannot opt-in or opt-out of it. This full time insurance option is obviously very expensive for the car rental company.
It's similar to how Canada Post/Fedex can provide coverage to your parcel/shipment.
Insurance & Financial Advisor

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!
Deal Addict
Nov 14, 2006
3148 posts
1952 upvotes
GTA
Insurance-Broker wrote: I would get separate coverage for the business. You still need to mention to your personal insurance company that business in being run from the office. Cost should be $750-$1000 a year as a startup.

What would this coverage actually cover? someone falling in the home ?? confused as to why to pay that much and for what in all honesty
Deal Addict
Oct 7, 2008
2681 posts
1732 upvotes
Home
Insurance-Broker wrote:
It's similar to how Canada Post/Fedex can provide coverage to your parcel/shipment.
Sorry I don't follow since I'm not familiar with the insurance product used by parcel shipment companies. Perhaps I should be more clear, does the car rental company pay for an insurance product which provides full insurance coverage for every single renter that rents their car everytime the car is rented, regardless if the the renter opts in or out of buying daily car insurance in their rental agreement , or does the car rental company pay for an insurance product which only provides coverage to the renter based on/ contingent on whether the renter opts in or out of buying daily car insurance in their rental agreement ? I am asking as I'd like to know what type of insurance products are available to the owner of a car rental company. I am only aware of the former, which is very expensive. If the latter option did exist, I would suspect it would be cheaper. Thanks in advance.
Fizz Mobile $ 4.80 USA CAN 45 GB

Top

Thread Information

There is currently 1 user viewing this thread. (0 members and 1 guest)