BUSINESS INSURANCE SOLUTIONS FOR ONTARIO
OKJ Insurance Brokers is your go-to choice for business insurance in Ontario. Whether you operate a large enterprise or a small business, we can offer the protection your company needs. We provide customized insurance options tailored for commercial clients of all sizes. If you are unsure about the level of protection you require or which type of insurance is right for your business, feel free to reach out to us. Our team will be more than happy to provide you with all the information needed to make an informed decision.
Business
Insurance Solutions
We provide insurance solutions to a diverse clientele including:
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Contractors/ tradespeople
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Manufacturers, wholesalers & distributors
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Offices
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Professionals
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Property managers
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Realty – building landlords/owners
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Retail
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Restaurants
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Salons
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And more
Understanding Commercial Property Insurance
Commercial property insurance aims to protect business owners in the event of damage caused by unexpected events in their buildings. Some of the most common coverages include the following:
Building, Contents, Stock and Equipment
Protects your business assets from unforeseen circumstances. This covers loss of or damage to your own property caused by fire, theft, weather-related events and more.
Business Interruption Insurance
As the name suggests, business interruption insurance aims to provide you with financial support in case your business is closed due to a covered reason. It can help you recover from loss of earnings, profits, rental income and more.
Equipment Breakdown Insurance
In the event of equipment breakdown, this type of insurance covers the cost associated with broken or malfunctioning equipment such as boilers, electrical panels, transformers, HVAC systems and more.
Commercial General Liability
In cases where third parties are injured or have their property damaged due to your business operations, this type of insurance provides you with the financial support you need for these expenses. It protects you against the legal liability often associated with such events.
Professional Liability (Errors and Omissions) Insurance
This is usually excluded from commercial general liability insurance. Professional liability coverage safeguards you against claims of negligence in your professional role.
Directors and Officers Insurance
This type of insurance covers the legal costs that board members, managers, and employees face when defending themselves against claims made by shareholders or other parties for alleged misconduct.
Cyber Liability Insurance
Cyber liability insurance helps cover costs associated with data breaches and cyberattacks on your business.
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What is the minimum coverage for mandatory auto insurance in Ontario?In Ontario, drivers are required to have a minimum of $200,000 in coverage for Third Party Liability, Direct Compensation – Property Damage, Accident Benefits, and Uninsured Automobile coverage.
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What is no-fault insurance?No-fault insurance covers damages to your own vehicle and medical expenses even if the other driver is at fault. This facilitates payment and ensures you get quicker and more convenient service. However, individuals involved in the accident can still be held responsible and have their driving records affected.
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How can I reduce my auto insurance rates?There are many ways you can reduce your auto insurance rates. Common strategies include: • Avoiding accidents and keeping a good driving record • Living in areas known for having low claim rates • Increasing your deductibles • Enrolling in user based insurance programs • Installing winter / snow tires • Installing anti-theft & recovery technology
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Is my car insurance policy going to cover me for commercial driving?No. Even though personal and commercial auto insurance policies may be similar, you must disclose all business activities with your insurer. Commercial drivers must have their own insurance policies to be covered for a work-related auto accident.
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What if I drive for a ride-sharing service such as Uber?There are specific policies tailored to cover drivers who work for Uber or provide other ride-sharing services. Contact OKJ Insurance Brokers so that we can help you choose the ideal policy for you.