Commercial insurance is a must for business owners. No matter how small your business is, it’s still vital to have some form of protection through commercial insurance. You don’t want to lose sleep worrying about the “what ifs” in your business.

When buying commercial insurance in Burnaby, read the terms of the policy carefully to understand what is covered and what is not. It’s not uncommon for people to harbor misconceptions about the coverage of their commercial insurance in Burnaby.

Standard commercial insurance in Burnaby has broad coverage. It typically protects a business from damages brought about by fire and explosions. If a pipe in the building burst and caused damage to your commercial property, the insurance company can cover the costs of repair or replacement. Theft and vandalism are also included in the basic coverage.

You would also want to understand what is not included in your standard commercial insurances in Burnaby to know what add-ons to include. Typically, insurance companies will not include losses brought about by natural disasters such as floods and earthquakes in your premium. You need to have separate insurance for that or talk to your insurance provider about getting this as an add-on.

If you have customers who leave their belongings in your commercial space and their belongings end up getting lost or damaged, it will most likely not be covered by the insurance policy as well.

Intentional acts of fraud against your company will not be included in the commercial insurance in Burnaby as well. However, you might be able to ask your company if you can get a bond to protect yourself against fraudulent acts.

Do you have a company driver? Get separate auto insurance for your company cars. If the driver gets in an accident, you won’t be able to get compensation from the business insurance. However, in some cases, insurance companies can include coverage for riders. You just need to customize your coverage to ensure that you are getting everything that you need for your business.

It can be hard to choose the right type of commercial insurance for your needs. On top of that, you also need to consider what coverage you should add. You can go to insurance brokers such as AMC Insurance. They can help understand your business more and connect you to the right commercial insurance providers that will give you the coverage that you are looking for.

For more details about Car Insurance in New Westminster please visit our website: amcinsurance.ca