The Importance of Commercial Insurance for Your Alberta Business

Entrepreneurism is about risk, calculated risk, sweat equity risks, and the risk of stepping outside the norm and taking a risk in yourself. To mitigate these risks, commercial insurance is one of the most important investments you can make when starting a new company. The team at TSG Insurance understand that your commercial ventures need as much protection as your personal ones, and offer business policies that provide protection for a broad variety of perils and exposures your commercial venture faces in your day to day operations.

Good commercial insurance will protect your company from severe financial loss and can be the difference between going under and staying afloat in the case of damages or a lawsuit. TSG Insurance’s thoroughly educated and experienced professionals can help you and provide protection with commercial insurance for any of the following:
•    Damage to your building and contents;
•    Theft of your assets from fraud, crime, or employee dishonesty;
•    Third party losses for which you are held legally liable;
•    Third party and physical damage losses caused by the operation of vehicles owned, leased, or operated by you and your employees; and
•    Business income replacement due to losses caused by an insured peril; as well as
•    Surety, contract, and miscellaneous bonds.

Commercial insurance is crucial for small businesses, it protects you from commonly experienced losses and the risk of going out of business. The three main types of commercial insurance are liability insurance, property insurance, and workers’ compensation insurance:
•    Liability insurance protects you from damages that your company inflicts on any third parties including the cost of personal injury or property damage lawsuits and injuries customers incur at your place of business.
•    Property insurance covers damages to property within your place of business, such as fire or flood damage.
•    Workers’ compensation insurance protects you in case employees are injured on the job, and prevents employees from filing negligence lawsuits against you for any injuries they sustain during work.

Key considerations in any business as any entrepreneur will tell you are the relationships you develop over your life and the life of your business. The relationship that you build with an insurance agent is extremely valuable so it’s best to work with an insurance agent who has extensive experience in commercial coverage to help you in this critical decision making process.

It is your responsibility to make an informed choice on the insurance that is best for your business, so open communication with the agent is important. TSG Insurance’s educated and experienced professional agents:
•    Discuss specific losses that are common within your industry and present a proposal for coverage options based on your business;
•    Ensure you ask questions about anything that you are unclear about including terms, conditions, or specialized information;
•    Are available when a commercial claim arises so that it can be investigated as soon as possible; and
•    Advise you as your insurance needs change as your business grows and new risk exposures arise.

Commercial Insurance
At TSG Insurance, we customize our policies in many different ways to meet your business’s exact needs because we understand that your business is not like any other business out there, and that it requires an entirely unique policy to cover it. If you have questions about commercial insurance for your business, or any of our other services, contact TSG Insurance at 1-800-830-9423 today in Bassano, Brooks, Calgary, Edmonton, or Medicine Hat to receive a free quote.