The majority of insurance companies provide very little coverage with respect to business property on a homeowners, condo or tenants policy. Generally what is offered is limited to $2,000 to $5,000 and while on your premises only. This means there is no coverage for contents in transit, in your vehicle and where you work.
Commercial General Liability has four insuring agreements:
- Bodily Injury / Property Damage
- Personal Injury / Advertising Injury
- Medical Payments
- Tenants Legal Liability
Here are some Examples:
- If a courier or postman slip and falls at your residence while delivering a business parcel or mail. Any medical payments required as a result of his injury are covered.
- If you damage the flooring at a patients home from dropping your instruments or accidentally break an item of high value.
- Should your advertising in a brochure or on your website make certain promises and you fail to deliver on those promises or should you damage someones personal reputation if you lose their file and its contents are exposed to the general public.
- Should you lease commercial space from a landlord – your tenants legal liability will cover damage to the leased premises from an insured peril.
- Professional Liability Insurance for law suits arriving from negligence or errors in the treatment of your patients, many extensions included.
- Commercial Auto Coverage – your vehicle should be classed as a commercial vehicle if you are carrying tools and instruments used in connection with your work in your vehicle – most commercial rated vehicles enjoy lower premiums then personal use vehicles.
H. MacDonald Insurance and INTACT are pleased to offer a discounted group insurance program for CAFCN Members.
The Commercial Property Certificate will provide a blanket limit of $15,000 of coverage for your instruments, computers, smart phones and stock. This protection is in place whether the insured property is at home, in your vehicle and anywhere you work.
- BASIC CERTIFICATE: Annual premium of $500 covers contents of every description up to $15,000 (Coverage for your instruments, and business equipment at Home, in your vehicle and anywhere you work) Higher limits available Commercial General Liability $2,000,000 with 4 insuring agreements: Bodily Injury and Property Damage, Advertising Injury, Personal Injury and Tenants Legal Liability
- PLUS CERTIFICATE: Annual premium of $750 Adds: Business Interruption, Equipment Breakdown, Cyber Extension Endorsement and many additional perils
- ENCON GROUP INC: Professional Liability Insurance (Errors & Omissions) $2,000,000 Annual premium of $130 ( Revenues under $10,000) Annual premium of $260 for revenue over $10,000 Policy is customized with many extensions specific to your profession.
- INDIVIDUAL QUOTES FOR YOUR VEHICLE- including a multi policy discount with INTACT when combined with the basic or plus certificate, available in Ontario, Nova Scotia, New Brunswick and Alberta
I am here for you and I can tailor a package to look after all of your insurance needs and can provide savings from 30% to 50%.