Edmonton Small Business Insurance

Alberta’s capital city can be a great place to do business and Edmonton’s small businesses contribute to a vibrant local community. It’s also a place with many natural hazards – flooding, tornadoes and heavy snow have impacted businesses in recent years. Luckily, insuring your small business can offer financial protection against such unexpected disasters. That’s where A-WIN Insurance comes in.  

Once we understand your business, we advise you on the insurance protection you should have as well as find you competitive prices from a variety of insurance companies. We’re independent, which means we work for you – not the insurer.  

Contact us today to discuss your insurance needs or to request a quote for Edmonton small business insurance. You can also read on to learn more about this type of coverage.  

Types of Insurance for Small Business Insurance in Edmonton 

There are many different types of insurance available for small businesses in Edmonton. While your business will probably not require all of them, it’s good to understand what’s offered: 

  • Commercial Property – Helps replace your company’s property and rebuild owned structures if they’re damaged or destroyed by an insured peril such as fire.  
  • Commercial General Liability – Helps cover costs related to a third party getting injured or having their property damaged to due negligent acts by your company or employees (such as if someone slips and falls walking into your store’s entrance).  
  • Professional Liability or Errors & Omissions – Helps cover costs related to a third party suing for financial loss due to your professional service or advice or failure to provide that service or advice (for example, your project runs vastly over budget).  
  • Cyber Coverage – Helps cover costs associated with a cyberattack or data breach.  
  • Crime Coverage – Helps cover costs relating to certain types of crime such as forgery.  
  • Commercial Vehicle – Covers required third party liability, direct compensation for property damage and accident benefits coverage for company-owned vehicles and can be extended to include comprehensive, collision and other protection.  

Of course, this isn’t every type of insurance available. Some insurers offer specialized protection or custom insurance solutions for certain industries as well. Your broker will determine which coverages your company requires and find the best insurer to meet those needs.  

 

The Cost of Edmonton Small Business Insurance 

The cost of small business insurance in Edmonton will vary greatly depending on the following factors: 

  • Your industry. 
  • Your business operations. 
  • Where your business is located. 
  • Where your business operates (locally, provincially, nationally, internationally). 
  • Your annual revenue.  
  • The number of employees. 
  • If you have company vehicles. 
  • If you own or rent your commercial property.
  • The estimated cost of replacing your company’s property. 
  • Mitigation measures such as alarm systems, fire suppression systems, and sump pumps. 
  • Your insurance and claims history. 
  • The insurance options including coverages, deductibles and limits.

Additional elements will affect small business insurance rates depending on the type of insurance coverage you choose.  

Why Choose A-WIN Insurance as Your Small Business Insurance Broker in Edmonton 

There are many reasons to choose A-WIN Insurance for your small business, including: 

  • Decades of small business insurance experience. 
  • Independent insurance advice.
  • Exceptional customer service.
  • Access to many different commercial insurance companies. 
  • Competitive pricing and coverage.  
  • Claims support. 
  • Ability to manage your insurance at your convenience through our app and web portal. 

Our Edmonton Commercial branch also specializes in small business insurance with over 20 years of experience in the industry.

We also ensure many different types of small businesses in Edmonton, including health and wellness businesses.

Contact us today to discuss your options or to get an insurance quote for your small business in Edmonton. 

 

Frequently Asked Questions About Small Business Insurance in Edmonton 

Here are the answers to our most frequently asked questions about small business insurance in Edmonton.  

The cost of insurance for your small business in Edmonton will vary widely depending on your industry, business operations, annual revenue, and many other factors. It’s important to get a quote from multiple insurers to compare coverage and pricing – we can help with that.  

Our job as your broker is to help you choose the right coverage for your small business. We’ll ask you questions about your business and its operations then make recommendations for which types of coverage you should have. We’ll also get you quotes and explain the difference in coverage and prices. Cheapest is not always the best option – it’s important to balance price with protection.  

The type of insurance you need for your Edmonton small business will depend on your industry, business operations, number of employees, and other factors. We recommend coverages based on your company’s needs.  

A good starting place for all businesses is commercial general liability insurance and commercial property insurance. If you offer a professional service or advice, you should also carry professional liability insurance, also known as errors and omissions insurance.  

Depending on your business, you may be required to carry insurance: 

  • By your lender, if you have a lien on any company property. 
  • By a contract.  
  • By your industry’s governing body.  
  • By law, if your company owns/operates any vehicles as they’re required to have third-party liability and accident benefits coverage. 

There are other considerations when it comes to carrying insurance, too: 

  • Clients may prefer to work with insured businesses. 
  • Insurance helps your company survive the financial impact of a lawsuit or unexpected disaster.  

We recommend Edmonton’s small businesses insure themselves to minimize the financial consequences of unexpected events or mistakes and to meet any contractual requirements. If you’re not sure what you need, your broker can help you understand your company’s insurance requirements. 

There are a few ways to lower your small business insurance rates in Edmonton: 

  • Invest in mitigation measures. 
  • Develop risk management plans and procedures.  
  • Raise your deductible (this does mean you’ll pay more if you have a claim). 
  • Compare quotes from different insurers – we can help with this! 
  • Allow for a soft credit check, as some insurers will offer a discount. 
  • Pay annually, if possible, as monthly payments can have a slight surcharge. 
  • Review your insurance at least once a year. 

Your broker may be able to provide additional advice based on your individual policy. 

You can request a quote online, email Murray at [email protected] or give us a call at 780.435.3632.