Commercial

Commercial insurance protects organizations and businesses against financial losses.  Whatever the size of your business, it takes time, energy and money to run it successfully. It is important to protect yourself. 

Some of the most significant reasons you want to carry commercial business insurance is to protect your property, yourself, and your income. 

  • Protect your property:  Your property consists of equipment, computer systems, tools, stock, machinery, and buildings. Property used in your business can be insured using a variety of insurance coverage options. There are packages available which can be tailored to meet the needs of many different types of businesses and service organizations.
  • Protect yourself and your business:  It is important to protect yourself from legal liabilities and to have legal assistance and defense in the event of a lawsuit.
  • Protect your income:  Business interruption insurance will replace your income and protect your ongoing expenses during the rebuilding process after a loss.

If you have a home based business, your home insurance does not cover losses to property or liability.  Commercial insurance may be required. Please contact us for more information.

Additional Coverages

Talk to your broker about the following additional coverages which can be added to your property and liability policies.  Additional coverages available include:

Business Interruption

Business Interruption is a type of insurance that covers the loss of income that a business could suffer after a disaster.

Business Interruption policies can provide the following types of coverage:

  • Profits. Profits that would have been earned (based on prior months' financial statements).
  • Fixed Costs. Operating expenses and other costs still being incurred by the property (based on historical costs).
  • Temporary Location. Some policies cover the extra expenses for moving to, and operating from, a temporary location.
  • Training Cost. Business Interruption (BI) policy essentially covers the cost of providing training to the operators of the machinery replaced by the insurer following the insured events.
  • Extra Expenses. Reimbursement for reasonable expenses (beyond the fixed costs) that allow the business to continue operation while the property is being repaired.
  • Civil Authority Ingress / Egress. Government-mandated closure of business premises that directly causes loss of revenue. Examples include forced business closures because of government-issued curfews or street closures related to a covered event.

Builder's Risk/Installation coverage

Builder's Risk & Installation Insurance is a type of property insurance which provides coverage for damage to buildings while they are under construction or renovation.  This type of policy provides coverage that protects a person’s or organization’s insurable interest in materials, fixtures, and/or equipment being used in the construction or renovation of a building or structure should those items sustain physical loss or damage from a covered cause. 

Voluntary Fire Fighting

Voluntary Fire Fighting provides coverage for fire department charges, where a fire department is called because of a fire in or on the insured premises or at a location you are working.   We recommend that you check with your City, Town, or R.M. to see if there is charge for this service and purchase insurance accordingly.  

Crime

Crime Insurance manages the loss exposures resulting from criminal acts such as robbery, burglary, and other forms of theft.  Commercial crime insurance covers money, securities, and other property against a variety of criminal acts, such as employee theft, robbery, forgery, extortion, and computer fraud.

Equipment Breakdown – Boiler and Machinery

Equipment Breakdown insurance, sometimes referred to as boiler and machinery insurance, covers the costly physical and financial damage that can result from an equipment breakdown. This is critical coverage for any business or institution because standard commercial property insurance forms typically exclude the losses that equipment breakdown insurance is designed to cover, such as:

  • Mechanical breakdown
  • Electrical arcing
  • Artificially generated electrical currents
  • Centrifugal force
  • Bulging, cracking or collapse of pressure vessels

Equipment breakdown coverage insures a variety of equipment types such as:

  • Air conditioning and refrigeration
  • Electrical equipment
  • Computers and telecommunications
  • Business equipment
  • Production machinery
  • Computer-controlled machines
  • Security systems
  • Retail “point of-sale” systems
  • Ventilation systems
  • Generators
  • Elevators and escalators
  • Boilers
  • Hot water heaters
  • Motors and pumps
  • Engines

Additional Policies

North Battleford Agencies offers a wide variety of polices in addition to your general property and liability policies.  Additional types of polices include:

Bonding

A bond is a guarantee of performance made by one person or entity for another. Its basic function is to eliminate risk to the person to whom the promise of performance is made, as well as to fulfill contractual obligations.  Commercial bonds are also sometimes used to reinforce laws such as licenses and permit regulations.  There are several types of bonds. Our Commercial specialists are eager to tailor a policy to meet all your bonding needs.  

Professional Liability - Errors and Omissions

We offer professional liability insurance that covers you in case a customer claims they experienced a financial loss due to a professional mistake, omission, or act of negligence. Talk to one of our Commercial specialists to see whether Errors and Omissions Insurance would help ensure the stability and success of your business.

Directors and Officers

We offer Professional Liability insurance that covers Directors and Officers who may be held personally liable for misuse of funds, misappropriation of  funds, knowledge of illegal or improper acts, making improper loans, fraudulent acts, and transactions or decisions which are not authorized by the bylaws of the corporation. A general liability policy for a business will not typically extend to provide such coverage as it tends to be limited to property damage or bodily injury caused to others. Talk to one of our Commercial specialists to see whether Directors and Officers coverage is something you may require.

Umbrella Liability

Umbrella liability insurance protects you when accidents happen and your existing liability insurance policies cannot cover all the expenses. Essentially, it picks up where your business auto liability, general liability or other liability coverage stops, providing extra protection against bodily injury and/or property damage. Talk to one of our Commercial specialists to see whether an umbrella liability policy would help ensure the stability and success of your business.

Commercial Auto & Cargo

Whether your company has a single vehicle, a fleet of more than a hundred vehicles, service rigs, or any other vehicles which operate on public roadways in a business capacity, you may  be required to hold a minimum level of automobile and cargo insurance.

Commercial Auto is similar to personal auto.  It is an extension of your plate insurance, but in a business capacity.  Click here to check out Commercial Auto Insurance.

As an operator of a commercial vehicle, you may be legally liable for goods entrusted to your care.  Cargo insurance protects the motoring and shipping public in the event that the carrier damages their goods.

Commercial Auto and Cargo Insurance is not only important to protect yourself, but the Federal and Provincial Motor Carrier Acts makes it a legal requirement for businesses to carry additional liability and cargo insurance in certain circumstances.

The following table shows the legal requirements set out by the Federal and Provincial Motor Carrier Acts regarding your insurance responsibilities.  More information can be found in the Saskatchewan Truckers Guide.

Quote

Help speed up the process by bringing in the following

If you would like us to provide a quote, you can help speed up the process by bringing in the following:

  • Business Name & Mailing Address – Certificate of Incorporation if applicable
  • Location: where is your business located -lot, block & plan or civic address
  • Operations: What is your business - what do you do?
  • Gross Receipts: estimated gross receipts for the upcoming year? Gross receipts are the total amounts the business received from all sources during its annual accounting period, without subtracting any costs or expenses.
  • Do you have employees? How many?

If you are insuring a building, we will need the following information:

  • WALLS : frame, steel, cement, etc            
  • ROOF : shingle, metal, tar & gravel, etc
  • FLOORS : frame, steel, cement, etc       
  • AGE :  year built                                                
  • HEIGHT : one story, two story
  • SIZE : square footage                                         
  • Type Heating :
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