Question 1

What is an independent insurance broker and how are they different from an agent?

Accepted Answer

An independent broker works for you — not for any single insurance company. A broker compares coverage and pricing across multiple insurers to find the right fit for your situation. An agent represents one company and can only offer that company's products.

Question 2

Does using a broker cost more than going directly to an insurer?

Accepted Answer

No. Brokers are compensated by the insurer through a commission already built into the premium — you do not pay extra for broker services.

Question 3

What insurance does my small business need in Canada?

Accepted Answer

Most businesses should consider commercial insurance because a single lawsuit, property loss, theft, accident or other unexpected event can create a significant financial liability. The right coverage depends on the business, its activities, assets and contracts.

Question 4

Do I need business insurance before I get my first customer?

Accepted Answer

It can be important to have appropriate coverage before operations begin because a loss or liability can occur immediately. Customers, landlords and contractors may also require proof of insurance before work starts.

Question 5

What happens if I operate my business without insurance?

Accepted Answer

Without applicable insurance, the business may have to pay covered-type losses from its own funds. It may also be unable to satisfy contractual, lease or financing requirements that call for insurance.

Question 6

What is an insurance exclusion?

Accepted Answer

An exclusion is a provision in an insurance policy that removes or restricts coverage for a specified loss, risk, person, property, activity or circumstance.

Question 7

What is a policy limit?

Accepted Answer

A policy limit is the maximum amount the insurer may pay for a covered loss or coverage section, subject to the policy wording. Limits may apply per occurrence, in aggregate or to specific coverages.

Question 8

What is a deductible and how does it affect my premium?

Accepted Answer

A deductible is the amount the insured is generally responsible for paying before the insurer pays an eligible covered loss. Higher deductibles typically reduce the premium.

Question 9

How much does business insurance cost in Canada?

Accepted Answer

The cost varies by industry, location, revenue, claims history, coverage, limits, deductibles and other risk factors. There is no standard price — a broker can provide a personalized quote.

Question 10

What factors affect the cost of commercial insurance?

Accepted Answer

Key factors include industry type, business size, revenue, location, property values, number of employees, vehicles, claims history, coverage limits, deductibles and the specific risks of the operation.

Question 11

Should I choose business insurance based on price alone?

Accepted Answer

No. Coverage, exclusions, limits, deductibles, insurer terms, service and price should all be considered. A lower premium with significant coverage gaps may not represent good value.

Question 12

What is a Certificate of Insurance (COI)?

Accepted Answer

A Certificate of Insurance (COI) is a document that provides evidence of insurance and summarizes key policy information. It is not a substitute for the full policy wording.

Question 13

What is an Additional Insured?

Accepted Answer

An Additional Insured is a person or organization added to a policy through an endorsement or other policy provision, giving them specified protection under the policy. The scope depends on the endorsement.

Question 14

What should I do if my business has an insurance claim?

Accepted Answer

Report the loss promptly according to your policy and insurer instructions, take reasonable steps to prevent further damage, document the loss and keep relevant receipts and records.

Question 15

What is the difference between a broker and an insurance company?

Accepted Answer

A broker is an intermediary who represents the client and can access multiple insurers. An insurance company underwrites and issues the policy and is responsible for paying covered claims.

Question 16

Does my home insurance cover my home-based business?

Accepted Answer

Generally no. Standard home insurance policies exclude or severely limit coverage for business activities, equipment and liability. A home-based business endorsement or separate commercial policy is typically needed.

Question 17

What is Super Visa insurance and who needs it?

Accepted Answer

Super Visa insurance is a Canadian government requirement for parents and grandparents visiting Canada on a Super Visa. It must provide a minimum of $100,000 in emergency medical coverage, be valid for at least one year from the date of entry, and be purchased from a Canadian insurance company.

Question 18

What is the difference between term and permanent life insurance?

Accepted Answer

Term life insurance provides coverage for a fixed period and pays a death benefit if you pass away during that term. Permanent life insurance provides lifelong coverage and builds cash value over time, making it suitable for estate planning and long-term financial goals.

Commercial & Business Insurance Across Canada

Protecting Families Across Canada

Who We Serve

A Hybrid Commercial Insurance Brokerage

In Person

Online & Video

Phone & Digital

Your Commercial Insurance Experts

Review Existing Policy or Quote New

Coverage for Individuals & Families

Coverage for Your Business

Life, Super Visa & Financial Protection

Commercial Insurance FAQs

What Our Clients Say

Ready to Get the Right Coverage?