What Insurance Coverages Do You Need?
If you work in the service business in Ontario, talk to our Huronia small business insurance brokers about service industry insurance coverage. Call 1-866-955-8386 and let us take care of you while you take care of your clients.
Whether your small business is in photography, cutting hair, tree trimming, pet grooming, gutter cleaning, lawn care, or cleaning services, service industry insurance will help protect you, your equipment, and your employees.
As a service provider, most likely you consult with clients in your office or you work off site. You may even use equipment unique to your industry. Our Huronia Insurance brokers can help you identify potential losses and show you how to prevent them. We can help you understand what insurance coverages you should consider and customize your service business insurance to meet your specific needs.
The following offers a brief overview of the different types of insurance coverages that a small service business like yours should consider including business equipment insurance, liability insurance, and errors and omissions insurance.
Service Business Equipment Insurance
Specialized equipment is necessary for many small businesses in the service industry. If your equipment is stolen, vandalized, or happens to break down and you are unable to service your clients, will you be covered? Your service business equipment insurance policy will help cover the repair or replacement costs of your equipment.
You may also want to consider cyber insurance coverage if your business relies on specialized software or other online tools that may be vulnerable to cybercrime. Ask us about business interruption insurance to cover your costs if you are forced to temporarily close your business due to unforeseen perils such as fire.
Small Business Liability Insurance
As a service industry provider it is critically important that you protect yourself against any client legal action for injuries caused by you, your services, or the equipment used in your service. We recommend all risk contractor liability insurance coverage that may or may not include the following:
- General Liability Insurance— Provides you with insurance coverage in the event that someone is injured while at your place of business.
- Product Liability Insurance— Provides you with insurance protection in the event that someone is injured while using one of your products that might have been defective.
- Professional Liability Insurance— This is errors and omissions insurance to protect you in the event that a client or customer should accuse you of negligence.
- Cyber Liability Insurance— This insurance coverage protects your business in the event of a theft or electronic security breach that results in a lawsuit because of the loss of sensitive data or private data that has been compromised.
Other Insurances to Consider
As a service provider, if you were to sustain a critical illness or a disabling injury, or if you were to lose one of your key personnel, the loss of income could be devastating to your family and small business. The following is a brief overview of other types of insurance coverages you might want to consider to protect your livelihood and your business:
- Life insurance— If you run a sole proprietorship, life insurance is a good idea to help protect your family and your livelihood.
- Mortgage Protection Insurance – If you have a mortgage, mortgage protection insurance will cover your mortgage payments should be become disabled or deceased.
- Disability insurance— Should an injury or illness prevent you from providing for your family, disability insurance will protect your income during that period when you are unable to work.
- Critical illness insurance— It’s a good idea to consider critical illness insurance since it will pay you a lump sum benefit if you were ever afflicted with a critical illness.
- Partnership insurance – If you have a business partner and they became deceased, this insurance coverage will provide the capital you need to buy their shares so you can keep your business operating. This is also referred to as “buy-sell” insurance.
About Huronia Insurance
Heading into our third decade of service, Huronia Insurance Group services the small business insurance needs of clients throughout southern Ontario, from Barrie to the Greater Toronto area.
Over the years Huronia has developed excellent working relationships with many of Canada’s top Commercial Insurance Companies. We can help your small business get the right service business insurance coverage to meet your specific needs.
For more information about our insurance company or to speak with one of our Ontario business insurance brokers, please fill out our online contact form, send us an email, or call us toll free at 1-866-955-8386.
We look forward to serving you!
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