Whether you own a small or large business, securing the proper insurance is essential to keeping your assets safe. It protects you from lawsuits, damage to your property, and losses due to acts of nature. However, before making a decision, you should understand how this insurance protects you and your business.

It Protects Against Liability (CGL)

Having Business Insurance in St. John’s, Newfoundland, will protect your business against lawsuits, whether you have a physical location or are an online business. Litigation can be costly, but with the right coverage, you can minimize your risk and keep your assets safe. There are a variety of coverage options, so be sure to choose the right one for your needs.

Being involved in a lawsuit can be very expensive. These lawsuits are usually filed due to slips and falls, and can become quite costly and create headaches for business owners and managers. Fortunately, most general liability policies include coverage for these lawsuits.

Slander, privacy invasion, intellectual property infringement or false advertising are other types of liability lawsuits that may potentially arise, and having St. John’s Business Insurance (Liability/CGL) will prevent your business from losing revenue. Legal fees and indemnification costs would be covered in the event of a claim against your business.

It Protects Against Property Damage

Property insurance protects against damage to your business property, equipment, and signage. 

Replacement Cost Coverage: The policy covers the actual cost of repairs to your property and building, also covering the cost of replacement for a high-valued property. You must ensure your home’s insurance value is accurate; if you are considering renovations, speak with your trusted business insurance provider.

Actual Cash Value: This type of coverage will pay your claim based on the cost of buying a replacement of similar condition—with depreciation factored into the cost.

Business Insurance for St. John’s and Newfoundland businesses is vital, regardless of size or industry. It will protect your company against unexpected costs, such as damage to a building or car, and can also cover the cost of lawsuits or other liabilities. 

Business Interruption Insurance

Business interruption insurance is a great way to protect your business from loss of income. This policy replaces lost profits and protects your business from lawsuits that may arise from property damage or bodily injury.

Additionally if you a building owner and rent to other may choose to insure your rental income. 

Newfoundland Commercial Insurance

When you work with Crosbie Job Insurance, you’re working with a long-standing Newfoundland Insurance company that’s been serving the area since 1850! Records indicate that our founders, the Job Brothers, worked with the Royal Liverpool Insurance Company in 1851 before the company was purchased later in 1985.

One incident has the potential to ruin a business if the owner has yet to secure commercial insurance. Steeped in Newfoundland history and dedicated to insurance with strength, integrity, and experience means that your company is protected by the best. Get the commercial insurance you deserve today: get a free St. John’s Business Insurance quote or call us at 1-800-563-7788.