In the Canada there are many types of Business Insurance. It was because of this diversity that the options available it can sometimes be confusing. So for the new businesses that do not have the staff or an existing company with a team of employees is very important to decide what level of insurance you should have and they suggested.
Here is a list of various types of business insurance you might consider.
Employers Liability Insurance – Employers' Liability (Compulsory Insurance) Act 1969 requires that covered employees against injury while doing their job – Required.
Motor vehicle insurance – Business liability insurance policy Most comprehensive or third party, fire and theft. By law you must, at least, insure liability for injury to others and damage to their property – Required. If you use a private vehicle for business use, make sure the relevant policies account for this.
Professional indemnity insurance – Depending on your industry specific profession must have insurance, these include; architects, accountants, lawyers, surveyors, insurance brokers and financial advisors.
Business travel insurance – Some employees traveling around the world. Close to delays, loss of life and injuries; equipment and money is recommended.
Fidelity guarantee – If you are concerned about the dishonest employee fidelity insurance cover against loss of cash or stock.
Key Man Insurance – Some businesses will cease to function properly without certain individuals. It's not uncommon to ensure directors and senior managers to the loss of revenue from death.
Points Insurance – Just like home insurance business where you have to be insured for the full cost of rebuilding.
Factory and business equipment – Same as contents insurance, you can ensure your business machinery or equipment.
