Question 1

Is my business covered by insurance if we experience a flood?

Accepted Answer

Many commercial insurance policies can cover damage to your business as a result of overland flooding. It’s important to speak to your BrokerLink broker to understand how your deductible and any limits can impact exactly how much would be covered. You broker can provide options to ensure you have the right level of coverage in place.

Question 2

Is my business covered by insurance if a fire causes an interruption?

Accepted Answer

In the event of a fire or other incident that results in you having to halt or cease operations, business interruption insurance can help cover the costs of lost revenue and additional expenses associated with being temporarily shut down, including employee wages. If you don’t already have one, creating a risk management plan can be useful to refer to during an unexpected event.

Question 3

Does business insurance cover a product or service that causes injury, illness or death?

Accepted Answer

Every business owner should carry general liability insurance for protection against bodily injury and property damage to others. Depending on the nature of your business, as an added form of coverage, you can add product and completed operations liability to your policy. This coverage extension can provide further protection from customer claims made against your products and services after the sale. Talk to your BrokerLink advisor to determine whether this coverage extension is right for your business.

Question 4

What type of liability insurance does my business need?

Accepted Answer

We highly recommend that most business consider getting general business liability insurance, which will cover common types of insurance claims, though there are also five additional types of liability coverage available:

Employer Liability
Employment Practices Liability
Employee Benefits Liability
Directors and Officers (D&O) / Management Liability
Legal Expenses Liability

To learn more about these additional business liability options, read our business liability coverage blog post.

Question 5

Am I covered if I operate my business out of my home?

Accepted Answer

Depending on the nature of your home-based business there are two coverage options available to you. A home business extension can be added to your current home insurance policy to offer protection for home-based businesses that have low risks and where customers do not visit the premises.

For larger-scale operations, with expensive business property, and which could be at a higher risk of a liability claim, a commercial insurance policy is required. To learn more, read our home-based business insurance blog post.

Question 6

Does BrokerLink offer customized coverage tailored to my businesses specific industry?

Accepted Answer

At BrokerLink, we recognize that each industry has exposures to unique risks. You should never buy a one-size-fits-all insurance package off of the shelf. In order to ensure your business’ insurance needs are properly met, we have brokers that have commercial insurance expertise in the following areas:

Healthcare services
Construction
Transportation
Oil and gas
Hospitality
Real estate and property management
Manufacturing

These are just a few of the industries we can create customized insurance solutions for. Speak with your BrokerLink broker today to learn more about industry-specific insurance coverage.

Your insurance coverage should be as unique as your business. As many businesses have unique coverage to meet different needs, these answers provide a general overview on important details and options that apply to multiple industries. For a customized review of your business insurance needs, we recommend speaking with a BrokerLink commercial insurance broker.

Question 7

Am I covered if I lend my vehicle to my neighbour or friend?

Accepted Answer

Yes. When you lend your car, you lend your insurance too. In the event of a loss or incident your policy will cover any damage. However, if you are deemed at fault in the incident, your policy premium could be affected by the claim for up to six years.

Question 8

Am I covered by my policy for a rental car?

Accepted Answer

Yes. In most cases your current auto policy will automatically extend accident benefits and third party liability coverage to a rental car. Physical damage to the rental vehicle can also be covered if you have the same coverage on your current auto policy. To learn more, check out these details of rental vehicle coverage.

Question 9

Am I covered if I hit an animal on the highway?

Accepted Answer

Yes – if your auto policy includes comprehensive coverage. Comprehensive auto coverage provides additional protection for your vehicle including break-ins, flood and water damage, fire and falling objects. Comprehensive coverage is not mandatory to include in your insurance, however if you are driving a leased or financed vehicle you may be required to purchase it.

Question 10

Does my home insurance cover if someone slips on my front sidewalk?

Accepted Answer

Yes. Your homeowner’s policy covers you for incidents of liability in-and- around your property subject to the bylaws of your city. You can be proactive by properly removing snow and ice on your property.

Question 11

Does my home insurance cover if someone steals my luggage while I'm on vacation?

Accepted Answer

Yes. Your homeowner’s policy covers your possessions anywhere in the world for insurable losses.

Question 12

Does my home insurance cover if I renovate my home?

Accepted Answer

No, your policy does not automatically cover work being done to your home. You should speak to an insurance broker prior to beginning any home renovations to ensure your insurance provider covers your renovations and to inquire if you require any special coverage.

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FAQs

Is my business covered by insurance if we experience a flood?

Is my business covered by insurance if a fire causes an interruption?

Does business insurance cover a product or service that causes injury, illness or death?

What type of liability insurance does my business need?

Am I covered if I operate my business out of my home?

Does BrokerLink offer customized coverage tailored to my businesses specific industry?

Am I covered if I lend my vehicle to my neighbour or friend?

Am I covered by my policy for a rental car?

Am I covered if I hit an animal on the highway?

Does my home insurance cover if someone slips on my front sidewalk?

Does my home insurance cover if someone steals my luggage while I'm on vacation?

Does my home insurance cover if I renovate my home?

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FAQs

Is my business covered by insurance if we experience a flood?

Is my business covered by insurance if a fire causes an interruption?

Does business insurance cover a product or service that causes injury, illness or death?

What type of liability insurance does my business need?

Am I covered if I operate my business out of my home?

Does BrokerLink offer customized coverage tailored to my businesses specific industry?

Am I covered if I lend my vehicle to my neighbour or friend?

Am I covered by my policy for a rental car?

Am I covered if I hit an animal on the highway?

Does my home insurance cover if someone slips on my front sidewalk?

Does my home insurance cover if someone steals my luggage while I'm on vacation?

Does my home insurance cover if I renovate my home?