Business & Commercial Insurance

The commercial insurance brokers at Spriggs Insurance Brokers Limited know how important it is for your business to have the right insurance coverage. They'll get to know your business needs so that they can provide an insurance package that maximizes your protection.

Insurance for Business Property and Earnings

You need to protect your assets and earnings in the event that a disaster or emergency destroys part or all of your business premises and assets. This could include:

Property Insurance – Property insurance will cover the property and buildings owned by your business in the event of damage due to things such as fire and other insured perils.

Contents Insurance – This covers assets that you store at your business premises. If you are leasing space for your business, the owner of the property probably has property insurance, but you are responsible for your own contents insurance. If you run your business out of your home, you will likely need separate contents insurance for your business assets.

Business Interruption Insurance – If you need to shut down your business temporarily due to a fire or other insured peril, business interruption insurance will cover your loss of earnings until you are back in business.

Vehicle Insurance – You will need to insure any vehicles that your business owns. If you use a personal vehicle for business purposes, be sure to advise your insurance company.

Liability Insurance

Mistakes happen. You, your employees, your equipment or your suppliers could be the cause of mistakes that ultimately end up hurting your customers, your employees, or other people who are involved in your business. To protect your business from being sued, or to limit your liability, you should consider these types of insurance:

General Liability – Covers injuries to clients or employees on your premises

Product Liability – Provides protection in the event that your products are defective or cause serious harm to those who use them

Professional Liability – Provides protection if you are sued by a client for errors, omissions or negligence while performing professional services

Spriggs Insurance Brokers Limited can provide coverage for, but not limited to, these categories of business:

• Hospitality restaurants and coffee shops
• Building owners’ risk for office, wholesale and apartment buildings
• Builders’ risks commercial and resident buildings
• Retail grocery, clothing and furniture stores, as well as barbers, beauty shops and bakeries
• Small manufacturers and service shops, small and mid-sized businesses such as machine shops, repair garages, printers and appliance repairs
• Contractors, landscapers and carpenters, building maintenance services, renovation contractors, heating, refrigeration and electrical contractors, window, door and floor installers, and painters

A number of our insurance company partners provide business insurance packages to simplify choices for a specific business type.

As a full service independent insurance broker, we proudly represent a variety of commercial markets, as well as an array of specialty markets, enabling us to cover almost any risk.

Contractor’s 10 Do-It-Yourself Tips to Help You Better Protect Your Business

1. It’s in the details. Maintain a detailed current equipment inventory, including condition or recent overhaul. This will assist in identifying and proving ownership should you incur damage to equipment from water or fire, or if equipment is stolen and/or recovered. Keep a backup copy of the list offsite.

2. Identify your equipment. Mark and identify your equipment’s PIN and/or serial number in two locations, one visible and the second hidden; record the locations of these numbers. Apply non-removable warning labels to equipment, indicating its identification status. Make your equipment unique by attaching your company logo or painting it your company colours. This will ensure easy identification.

3. Track it: recovery recommendations. Install a GPS or an anti-theft system in your larger and more expensive equipment. An effective recover system will notify you of equipment status 24 hours a day, 7 days a week. This proactive approach will alert you to potential risks early so you are able to take appropriate measures.

4. Lock it up. Lock all the cabs on mobile equipment and remove all keys. Have equipment keys rekeyed so that one key does not fit all. Install ignition inhibiting systems, wheel locks or another immobilizer. Provide onsite secure storage for equipment that is not being removed daily. Taking these extra steps will decrease the chance of theft.

5. Make it bright. Increase site lighting during the hours of darkness. This will work as a deterrent against theft and vandalism crimes.

6. Minimize excess. When assigning tools and equipment and ordering material, work on an as-needed basis. Implement a documented check-in/out system for all tools and equipment and follow up frequently. Ensure critical material is not stored on the job site. This will result in saved time and money.

7. Coordinate your defense. Implement a Preventative Maintenance Program. This is critical to effective asset management. Create inspection tasks designed to detect impending failures or needed part replacements. Your Preventative Maintenance Program is the first line of defense against unplanned downtime and equipment failures.

8. Proactively maintain equipment. Reduce equipment breakdown, failure and fire by establishing a documented scheduled maintenance program. Advance notice of the equipment’s condition will permit efficient organization of repair processes when they least affect productivity.

9. Make it safe and secure. Have a site safety plan in place. Install easy-to-read signage restricting access; use barriers to limit access; set up security fencing that encompasses the construction site; depending on the size of the project, request increased law enforcement patrols, and where necessary employ private security patrols. Mitigate costs by sharing with surrounding businesses. This will reduce the chances of injury to bot employees and the public and will guarantee optimal site effectiveness.

10. Limit your liability. Make sure you’re not responsible for an incident that was not your fault. Only do business with contractors and subcontractors who are insured, and verify coverage through insurance certificates. Set minimum standards for coverage and limits that you feel comfortable with. Speak to your Independent Insurance Broker to find out how to enhance your existing insurance policy and get the coverage you need.

To contact one of our brokers to discuss your commercial insurance needs, kindly complete the form below.