Find The Best Business Insurance Red Deer
Here at Procom Insurance, our experienced Red Deer business insurance brokers are here to help you understand your insurance. We work with a variety of Red Deer business insurance companies in order to provide you competitive prices and choice of coverage. We can help you determine what you need for your Red Deer business. Insurance doesn’t have to be complicated, whether you’re insuring a small home-based company or a corporation expanding nationally or even internationally.
Our Red Deer commercial insurance brokers make it a priority to understand your business. We believe in building strong relationships so that we can be a trusted resource for you and your business. We’re here to advocate for you in the event of a claim and help with your day-to-day insurance needs.
The Red Deer Commercial Insurance Coverage You Need
No matter how big or small your Red Deer business, insurance is a necessity. We can help you determine what type of business insurance coverage you need. We’ll review the different types of Red Deer business insurance here:
Basic Red Deer Business Insurance
The most basic Red Deer commercial insurance includes property and liability coverage. The property portion of a policy covers your work-related property within your premises. The liability coverage is known as commercial general liability insurance. This covers you in the event you’re sued after a third party is injured or has their property damaged while on your business’ premises. For example, if someone slips and falls because of a puddle in your entranceway, your company could be held liable for their injuries. If that person sues you, your commercial general liability insurance may cover you.
This basic policy offers coverage for many industries and is the starting point for Red Deer business insurance.
Directors and Officers Insurance for Red Deer Executives
If you’re a business owner or hold an executive, director or officer position, you can be held liable for any wrongful acts you carry out in this role. This can include:
- Employee discrimination or wrongful dismissal
- Environmental damage
- Failure to disclose conflicts of interest
- Mixing personal and business assets
- Failure to act
- Financial losses
This type of coverage can be purchased by an individual or by a business in order to protect its employees or itself. Discuss your options with one of our Procom business insurance brokers.
Red Deer Professional Liability Insurance
If you’re a professional in Red Deer that offers advice or a service, you should have professional liability insurance. Clients and other third parties can sue you for financial loss as a result of your service or advice; even if it’s not true, you would still need to cover your legal costs. Commercial general liability insurance would NOT cover Red Deer professionals in this scenario.
Professional liability insurance offers peace of mind as it covers legal costs when a third party sues for financial loss due to a professional service or advice, or failure to provide that professional service or advice. This includes defense costs, settlements, and awards up to the policy limit.
Keep in mind that not all scenarios are covered, including intentional criminal acts. You will also be required to pay a deductible for each covered claim and your policy limit applies to the policy term, not per claim.
Discuss your options with a Red Deer business insurance broker or get a professional liability insurance quote right away.
Product Liability Insurance
If your company sells or supplies a product in Red Deer, product liability insurance is an important coverage to have for your business. This type of liability insurance offers coverage in the event your product causes property damage or bodily injury to a customer.
Product liability insurance should be discussed with an experienced commercial broker. They’ll be able to advise what your risk level is and if this coverage is necessary. At Procom, we’re also able to give you a competitive product liability insurance quote.
Cyber Liability Insurance
Cyber liability is an increasing risk for all businesses in Canada, including those in Red Deer. Cyber liability insurance provides protection in the event there is a security breach with your data, either digital or physical. This is incredibly important coverage for all Red Deer companies as we all store customer data electronically and are at risk for a privacy or data breach.
Talk to a Red Deer business insurance broker for more details and to understand the risk to your company.
Business Interruption Insurance
One of the most valuable coverages for Red Deer companies is business interruption insurance. This provides funds for lost income due to mandatory evacuation, insured loss, or similar covered event that forces your business operations to halt. This lost income can ensure your employees and bills are paid and can keep you afloat if you’re forced to close temporarily. Some policies also offer funds to relocate your business so you can resume operating more quickly.
Give us a call today for a business interruption insurance quote for your Red Deer business. A day or week or month of business interruption can be devastating for companies of any size; ensure you don’t have to stress with the proper Red Deer business insurance coverage.
Life & Benefits
Life insurance helps your family cover funeral costs and gives them peace of mind financially to recover if you pass away prematurely. There are several different types of life insurance policies for Red Deer residents. What you need will depend on your family’s lifestyle and financial situation.
Group benefits include group or employer-provided health care, disability, and life insurance. Offering private coverage is a huge incentive for employees or group members. We work with you to establish a plan that fits your company or group’s budget and needs.
Procom insurance offers a variety of life insurance and group benefits options. Give our experienced brokers a call today to find out more or get a free life and benefits insurance quote.
This type of insurance helps ensure you’re protected if you’re held personally liable in a claim or lawsuit. It provides additional coverage if your other liability insurance is exhausted (such as with your home or car insurance) and provides specialty coverage not included in other liability insurance products.
This coverage is best discussed with a knowledgeable Red Deer business insurance broker. At Procom, we can work with you to determine your insurance needs and find you competitive prices and coverage options for your umbrella liability.
Did you know that your home insurance won’t cover your business property or liability? Talk to one of our experienced brokers in order to determine if you need a home-based business endorsement on your home insurance policy or if a separate Red Deer commercial insurance policy is needed.
While this isn’t an exhaustive list of coverages, it gives a good overview of what’s available in Red Deer. Keep in mind that there are many specialized products for specific industries. What’s exactly needed to adequately protect your team and your business will depend on your industry, where you operate, how many people you employ, your revenue, and many other factors. That’s why discussing your Red Deer commercial insurance with an experienced Procom business insurance broker is key to your success.
Why do I need Insurance for My Red Deer Business?
No matter how large or small your business is, your business still faces risks! Whether you’re being held liable in a lawsuit or your company’s property is destroyed, insurance can help your business survive. Red Deer commercial insurance offers peace of mind and financial protection for a wide variety of events from physical damage to business interruption to liability claims.
We Take Care of the Insurance so You Can Get Back to Business.
Get a Red Deer business insurance quote by filling out the online form or call today to discuss your Red Deer commercial insurance needs – no obligation, just a discussion.