Commercial insurance is designed for businesses and covers risks specific to professional activities: liability toward clients, business property, business interruption, professional errors. Personal insurance (home, auto) explicitly excludes any commercial activity. Mixing the two can result in coverage being denied in the event of a claim.

Every business should at minimum have: commercial general liability (CGL), commercial property insurance (building and/or equipment), and errors and omissions insurance if you provide professional advice or services. Business interruption insurance and employee coverage (CNESST, group insurance) generally round out this basic program.

Errors and omissions insurance, also known as professional liability, protects against financial claims arising from an error, omission or bad advice in the delivery of your professional services. It is essential for consultants, accountants, lawyers, engineers, real estate brokers and any service provider. A single mistake can lead to a claim of several hundred thousand dollars.

Not automatically in every case. Product liability covers damages caused by a product you manufactured, imported or distributed. It must be explicitly included in your policy. For retailers, importers and manufacturers, it is indispensable coverage — a product recall or an injury caused by a defective product can generate massive claims.

The standard commercial property policy generally covers your property at your place of operations, but coverage during transport is often limited or absent. If you regularly ship goods or equipment, cargo transport insurance (Inland Marine or cargo) is required. Carriers have limited liability under the Highway Transport Act.

Yes, many professional orders and associations in Quebec require a minimum level of professional liability insurance as a condition of membership or practice. For example, the Barreau, the OAQ, the Ordre des CPA, the applicable regulator and many others have specific requirements. Check your order’s requirements and make sure your policy meets them.

The deductible is the amount you pay yourself before your insurer steps in. A higher deductible reduces your annual premium but increases your out-of-pocket cost in the event of a claim. In commercial insurance, typical deductibles range from $500 to $10,000. Some coverages, such as cyber insurance, can have deductibles of $25,000 or more. Choose a deductible level suited to your financial capacity.

Yes, a multi-location (or blanket) policy can cover several addresses under a single contract, which simplifies management and can generate savings. Each location must be declared with its own characteristics — square footage, activities, property value. If you add a new location during the policy year, notify your broker immediately to avoid any coverage gap.

Most Canadian commercial policies have limited territorial coverage — generally Canada and the United States. For businesses operating internationally, territory extensions can be negotiated. Caveat: the United States presents specific legal risks tied to punitive damages and class actions. Coverage specifically designed for U.S. operations is strongly recommended.

Notify your broker or insurer as soon as possible after the loss. Document the damage with photos and videos before any cleanup. Take the steps needed to prevent the damage from getting worse. Do not carry out any major repairs before the claims adjuster has completed the inspection. Keep all receipts for expenses incurred. A late notice can complicate your claim.