Small Business Insurance Ontario

Get reliable small business insurance coverage tailored for you by BrokerLink.

Many people dream of starting their own business and being their own boss. If you’ve finally accomplished that goal, it’s important to protect everything you’ve achieved. Running a small business in Ontario is exciting, but it also comes with risks. That’s why small business liability insurance is so important. Simply put, it protects your business from financial loss if someone makes a claim against you for things like property damage, bodily injury, or professional mistakes.

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What is small business insurance in Ontario?

At BrokerLink, we know that owning a small business in Ontario is more than just a job. It’s your passion, your livelihood, and often a dream you’ve worked hard to build. That’s why small business insurance is designed to protect everything you've invested in from unexpected risks that could cause financial setbacks.

Every Ontario business is different, so your coverage should match your specific needs. Whether you're running a café in Toronto, a landscaping service in Ottawa, or a tech startup in Waterloo, we can tailor coverage to suit your operations. This could include general liability, professional liability, business interruption, and more. Additional coverages might include:

Protection for tools, equipment, or inventory that gets stolen or damaged.
Coverage for lawsuits related to injuries or property damage that occur on your premises.
Compensation for lost income if you’re forced to temporarily close due to a covered event.
Cyber liability insurance if your business handles sensitive customer data online.

The right small business insurance policy creates a safety net, so you can focus on doing what you do best, while we help protect what matters most. Contact BrokerLink today for a free small business insurance quote.

Who we help

Many different professionals and entrepreneurs across Ontario can benefit from having small business insurance. No matter the size or type of your operation, the right coverage helps protect you from the risks that come with running a business.

Professionals who commonly need small business insurance in Ontario include:

Retail store owners
Freelancers and consultants
Real estate agents and brokers
IT and tech service providers
Event planners and caterers
Pet groomers and dog walkers
Restaurant and café operators
Photographers and videographers
Independent contractors and tradespeople
Cleaning and janitorial service owners
Beauty professionals (e.g., hair stylists, estheticians)
Health and wellness professionals (e.g., massage therapists, personal trainers)

Why small business insurance is important in Ontario

According to Statistics Canada, almost 98% of businesses in Canada are classified as small businesses. Yet, 40% of these small business owners answered that they don’t have insurance in a recent TD Insurance survey, which means many of them are leaving themselves open to serious risk.

Small business owners in Ontario face a wide range of business risks. Whether it’s property damage, theft, customer injuries, or even cyber threats, these challenges can have serious financial consequences if you're not properly protected. In fact, according to the Insurance Bureau of Canada, insured losses to commercial properties in Canada in 2024 totalled over $1.7 billion, marking the second-highest annual total in Canadian history.

This is where small business insurance comes in. It helps cover costs associated with unexpected events so that your business can stay on track, even when things don’t go as planned. From a burst pipe in your storefront to a lawsuit over a service dispute to sudden flash flooding from a powerful Ontario storm, having the right liability coverage means you won’t be left dealing with these situations alone.

Types of coverages

If you’re running a small business in Canada, chances are you’ll need business insurance. Exactly what kind and whether it's legally required depends on the type of business you operate. While the government of Ontario says business insurance isn't mandatory, some industries have specific insurance requirements, such as professional liability insurance for medical professionals or general liability insurance for contractors.

Business insurance is a very broad term. There are many different types of business insurance and coverage options, and your broker will help you determine what you need. Here are a few types of small business insurance you may want to consider for your Ontario business:

Commercial general liability coverage is a type of commercial insurance that all business owners should consider, regardless of their business size or the industry in which they operate. Essentially, it helps business owners with liability claims of personal injury or damage to a third party resulting from their business. This type of coverage may be mandatory in Ontario, depending on your business type.

Professional liability insurance (also known as errors and omissions or malpractice insurance) protects you if a client claims your service, or something you didn’t do, caused them financial harm. It’s there to help cover legal costs if things don’t go as planned and someone decides to hold you responsible. It covers things like errors, omissions, negligence, and misrepresentation in your professional services.

You may be required to carry this type of coverage in Ontario if you're a medical professional, lawyer, or accountant.

If your business uses a vehicle to conduct daily business operations, you'll need to purchase commercial auto insurance, as your personal car insurance policy will not cover business use. With this coverage, all business vehicles will be protected, as well as any liabilities that could result from an accident that occurs during the time your vehicle is being used for business purposes.

Insuring business vehicles is similar to how a standard car insurance policy works. However, this protection can also extend to any employees who may operate your vehicles.

If your business creates a physical product, you may want product liability insurance. This provides coverage that helps protect against third-party claims alleging property damage or bodily injury resulting from products you create, distribute, or sell on your own.

Every business is susceptible to cyberattacks, even a small business. Many insurance companies offer cyber liability insurance that will cover the costs of a lawsuit that might stem from a cyberattack on your business.

If you own a brick-and-mortar location for your business, you'll want commercial property insurance. Commercial property coverage protects the physical structure of businesses and your business contents from insured perils, such as smoke and fire damage, vandalism, theft, water damage, and weather-related losses, such as storm damage.

With business interruption coverage, you can receive compensation for lost revenue in the event an insured peril damages your business and needs to close for a specific amount of time. This often comes included with commercial property insurance, but you can also get it separately.

You may be required to carry this type of coverage in Ontario if you're a medical professional, lawyer, or accountant.

Insuring business vehicles is similar to how a standard car insurance policy works. However, this protection can also extend to any employees who may operate your vehicles.

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Why choose BrokerLink for your commercial insurance needs?

Discover what sets BrokerLink apart. Our commitment to personalized service, expert advice, and comprehensive coverage options ensures you get the best protection tailored to your needs.

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Factors that may affect the cost of small business insurance in Ontario

According to a new Canadian Federation of Independent Business (CFIB) report, more than two-thirds (68%) of small businesses in Canada now list insurance costs as one of their biggest concerns. But how much does it actually cost?

The truth is that it varies from business to business. Every insurance company looks at risk a little differently, so your premium will depend on a few key details about your business. Here are some of the factors insurance companies may consider when determining your small business insurance premiums in Ontario:

The location of your business

If you’re situated in a large urban centre like Toronto or Ottawa, you’re likely to face higher premiums due to increased foot traffic, theft or vandalism risks, and broader legal exposure. Also, areas prone to severe weather events attract higher rates. In fact, the Insurance Bureau of Canada (IBC) reported that 2024 was the most expensive year in nearly a decade for weather-related commercial property losses, with insured damages topping $1.7 billion. Flash flooding in the GTA and Southern Ontario ranked fourth in total losses nationwide.

The type of business and industry

Businesses in industries with higher injury rates, stricter regulations, or greater potential for costly claims often see higher premiums. For example, a construction company with heavy equipment, on-site hazards, and large contracts will typically pay more than a home-based marketing agency.

The size and scope of your business

Are you a one-person powerhouse or leading a growing crew? The size of your business also affects what you’ll pay for insurance. More staff, more gear, and more revenue all mean there’s more at stake, so your coverage needs (and costs) usually go up to match them.

Your business assets

Do you own commercial property, business vehicles, staging gear, signage, or inspection tools? The more property or tools you are insuring (and the higher their replacement cost), the more it will cost to insure them.

Your claims history

Claim-free businesses are more attractive to insurance providers and often enjoy lower rates, whereas businesses that file frequent claims, even minor ones, signal higher risk and commonly face higher premiums.

The coverages, limits, and deductibles you choose

A basic policy might include property, general liability, and maybe commercial auto insurance. But when you add additional coverage, like cyber liability or product liability, or increase your coverage limits, it will usually increase your premium (though it also gives you greater protection when you need it most). You can offset some of that cost by choosing a higher deductible, but remember that this also means paying more out of pocket if you need to make a claim. To find out how much small business insurance would cost you, contact BrokerLink today.

Contact BrokerLink today for your small business insurance needs

Are you ready to work with the small business insurance experts from BrokerLink? For business insurance you can count on, call, email, or visit us in person at any one of our locations throughout Ontario. No matter how you choose to get in touch, a BrokerLink insurance advisor will be happy to assist you. We also encourage you to take advantage of our free online quote tool, which can provide you with a competitive quote online in minutes.

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Small Business Insurance Ontario

What is small business insurance in Ontario?

Who we help

Who needs small business insurance in Ontario?

Why small business insurance is important in Ontario

Types of coverages

Commercial general liability insurance

Professional liability insurance

Commercial auto insurance

Product liability insurance

Cyber liability insurance

Commercial property insurance

Business interruption insurance

Commercial general liability insurance

Professional liability insurance

Commercial auto insurance

Product liability insurance

Cyber liability insurance

Commercial property insurance

Business interruption insurance

Why choose BrokerLink for your commercial insurance needs?

Our reviews

Greg Silver

Andy Rohansingh

Ian Roome

Clara Furlano

Joyce Kivuyo-Kisamo

Terry Mason

Sandi G

DANI L

Anne Langevin

Peter Ayo

Chris Gelowitz

Digital Evolution

renee king

Andrea Case

Dan Hayes

Rana Najar

Mark Houston

Katherine Bedea

Jessie hansra

Ifedapo Adeniyi

David Ford

Michelle Hawgood

Trevor Hildebrand

Morgan Adekeye

Tyler Frisby

Steven Melowsky

Steve Payne

Matt & Sav Weetman

Brooklyn Seweryn

Craig Gillis

Cheryl Trush

Jinene Shinnicks

Geoff Aiken

Tony Hynes

Christine Fedrau

amanda

Lori Coffey

Our numbers speak for themselves

Factors that may affect the cost of small business insurance in Ontario

The location of your business

The type of business and industry

The size and scope of your business

Your business assets

Your claims history

The coverages, limits, and deductibles you choose

Contact BrokerLink today for your small business insurance needs

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