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Chestermere Commercial Insurance

Your business takes your time, effort, and money. Protecting your investment is crucial but commercial insurance can get complicated. That’s where Gold Key’s experienced Chestermere commercial insurance brokers can help. We can:

  • Find you the right coverage for your company’s needs.
  • Take care of price shopping to you get you the best commercial insurance rates in Chestermere without compromising your protection.
  • Explain your coverage and answer any of your questions.
  • Advise on risk management for your business.
  • Help you through the claims process.

Contact us today for a competitive Chestermere commercial insurance quote! Or you can keep reading to learn more about this protection.

Types of Commercial Insurance in Chestermere

Here are a few of the most common types of commercial insurance in Chestermere:

  • Commercial Property
  • Commercial General Liability
  • Professional Liability
  • Product Liability
  • Cyber Liability
  • Equipment Breakdown
  • Business Interruption
  • Commercial Vehicle

Depending on your industry and commercial insurance company in Chestermere, there is additional coverage available. Your broker can help you determine what your business needs.

What’s covered by commercial property insurance in Chestermere?

Commercial property insurance covers the physical assets of your Chestermere business. This can include:

  • Premises (if they’re owned by you)
  • Furniture
  • Tools and equipment
  • Materials
  • Electronics like computers, printers, et cetera
  • Inventory

These assets are covered from a variety of perils. The most common ones include:

  • Fire
  • Smoke
  • Explosion
  • Lightning
  • Hail
  • Wind
  • Vandalism
  • Theft
  • Sewer Backup*
  • Overland Water (Flooding)*
  • Employee Crime*

Those marked with an asterisk (*) usually require the purchase of add-on protection (known as an endorsement). Exactly what’s covered will depend on your individual policy and your commercial insurance company in Chestermere.

What’s covered by commercial general liability insurance in Chestermere?

Commercial general liability insurance helps protect Chestermere businesses if there is accidental injury or property damage caused to visitors to the premises. This protection helps cover associated legal expenses, including:

  • Defense costs
  • Judgement awards
  • Settlements

For example, if someone is in your Chestermere retail store and they slip and fall in an aisle. They could sue you for damages if they get hurt. This coverage could help cover the costs.

Professional Liability Insurance in Chestermere

Professional liability insurance helps protect any professional service or advice providers in Chestermere. If you’re sued for causing financial loss due to your service or advice or your failure to provide it, this coverage can help cover the legal expenses. This includes:

  • Defense costs
  • Judgement awards
  • Settlements

For example, if you’re a financial advisor, you could be sued by a client for causing them financial loss based on bad advice or negligence. This coverage could help protect you.

Product Liability Insurance in Chestermere

If your Chestermere business manufactures or sells products, product liability can help protect you if someone is accidentally injured or has their property damage as a result of using the product. This coverage helps cover associated legal expenses if you’re sued, including:

  • Defense costs
  • Judgement awards
  • Settlements

Cyber Liability Insurance in Chestermere

Cyber liability insurance protects Chestermere businesses if they suffer a cyberattack or data breach. This can include support for:

  • Notification expenses
  • Fines
  • Investigation and mitigation expenses
  • Legal expenses if you’re sued, including defense costs, judgement awards and settlements
  • Public relations expenses to help repair your company’s reputation
  • Business interruption

This protection is critical for all businesses, regardless of industry or size. Any business can be the target of a cyberattack and can be held responsible for failing to protect data and privacy.

Equipment Breakdown Coverage in Chestermere

Equipment breakdown insurance helps cover repairs or replacement of essential equipment after an electrical or mechanical breakdown. Equipment can include:

  • Computers
  • Telecommunications
  • Refrigeration units
  • Heating/ventilation systems
  • Point of sale devices
  • Manufacturing equipment
  • Boilers/pressure equipment
  • …and more

Talk to your broker if your business operations rely on functioning equipment. They’ll be able to advise if this coverage is necessary for your company.

Business Interruption Coverage in Chestermere

If your business is forced to close due to a mandatory evacuation or a covered claim, could it survive? Business interruption insurance helps your Chestermere business stay afloat during these difficult times by providing funds so that you can pay for the essentials.

Commercial Vehicle Insurance in Chestermere

If you have vehicles registered in your company’s name or use your personal vehicle for work purposes, you’ll need Chestermere commercial vehicle insurance.

Do I need commercial insurance in Chestermere?

If you run a business in Chestermere, you should have commercial insurance. This coverage can help protect you financially should an unexpected disaster strike. Plus, your personal insurance won’t cover anything relating to your business!

Depending on your industry, you may be contractually required to have certain types of insurance. Your Chestermere commercial insurance broker will be able to advise what you’ll need.

What type of commercial insurance do I need for my business in Chestermere?

The type of commercial insurance needed for a Chestermere business will depend on exactly what your business does. A retail store will have different insurance needs than a medical service provider or a manufacturer. One of Gold Key’s experienced commercial insurance brokers in Chestermere can help you determine what coverage you should have.

How much does commercial insurance cost in Chestermere?

The cost of commercial insurance in Chestermere varies depending on the individual company. Commercial insurance is very complex, and it is difficult to give an accurate average cost.

What affects Chestermere commercial insurance rates?

There are many factors that affect commercial insurance rates in Chestermere, including:

  • What your business does
  • Industry
  • Revenue
  • Number of employees
  • Where your business is located
  • The value and type of your company’s assets
  • Mitigation measures to protect your business
  • The claims and crime rate of your area
  • Insurance history
  • Insurance options including coverage, deductible and policy limits

There are many more industry-specific factors that will affect your commercial insurance rates, too. Talk to a Chestermere broker to learn more about how prices are calculated and how you can save money.

How to Get the Cheapest Commercial Insurance in Chestermere

Here’s how to get the best commercial insurance rates in Chestermere:

  1. Work with a commercial insurance broker in Chestermere. They can take care of the price shopping for you as well as advise on ways you can save money on your insurance premiums.
  2. Bundle your policies. You can often get a discount if you have multiple policies with the same insurer.
  3. Invest in mitigation and risk management. Devices and procedures that help prevent or mitigate damage can also save you on your insurance costs. Talk to a broker about available discounts.
  4. Raise your deductible. This is the amount you pay out of pocket when you have a claim. The higher the deductible, the lower your rates.

Insurance companies often reward reliable clients with lower rates – stay insured, pay on time, and only make a claim if it’s necessary.

How to Get a Commercial Insurance Quote in Chestermere

You can get a commercial insurance quote for a Chestermere business by:

  • Requesting a quote online
  • Giving us a call at 403-934-5959
  • Visit our office at 233 – 3rd Ave, Strathmore, AB

Our brokers will be happy to get you a quote or answer any questions you might have about commercial insurance in Chestermere.

Frequently Asked Questions About Commercial Insurance in Chestermere

Here are the answers to our most frequently asked questions about commercial insurance in Chestermere.

Do I need commercial insurance for a home-based business in Chestermere?

Yes, you need commercial insurance for a home-based business in Chestermere. Depending on the business, you can either get a separate commercial policy or purchase a home-based business add-on to your home policy.

Does my home insurance policy cover my business?

No, home insurance does not cover anything related to your business. For some home-based businesses, you can purchase a special add-on (known as an endorsement) which can provide some protection.

Does my car insurance policy cover my business?

No, car insurance does not cover anything relating to your business. If you use your personal vehicle for work purposes (other than commuting), you may need a commercial auto policy. This includes if you visit clients or transport work-related materials in your vehicle.

Do I need commercial auto insurance if I use my personal vehicle for work?

You will likely need a commercial auto policy if you use your personal vehicle for work or if it is registered in your company’s name.

Which commercial insurance company is the cheapest in Chestermere?

The cheapest commercial insurance company in Chestermere will change for each individual business as each insurer prices differently. Remember, cheaper doesn’t always mean better. You don’t want to compromise on protection.

Which Chestermere commercial insurance company is the best?

The best commercial insurance company in Chestermere will depend on your individual business. Our brokers will work hard to ensure you have the best coverage for the best price possible.

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