Risks marked with an asterisk (*) is usually an additional coverage that may not be available for all properties.
Commercial general liability insurance will help cover legal expenses if you’re sued after someone is hurt or has their property damaged. This includes defence costs, settlements and awards.
Income interruption coverage can help keep your business afloat by providing funds to replace lost income if you have a covered claim or are under a mandatory evacuation. This can include rental income.
Equipment breakdown can cover the repair or replacement of essential equipment if it suffers and electrical or mechanical breakdown. Equipment can be expensive to repair or replace and essential to your property. This coverage can help reduce the financial impact of having to suddenly fix or replace it.
Cyber liability can help your business deal with and recover from a cyberattack. This can include legal expenses, fines, ransoms, and fees associated with the notification, reputation management, data recovery, and mitigation.
Keep in mind that what is covered will depend on your insurance company and coverage options. A policy limit will always apply. This is the maximum amount that will be paid out on a specific section or on your overall insurance policy. Your business may also not be eligible for or need all the above coverage.
Talk to one of our experienced Calgary real estate insurance brokers to help determine what coverage fits your needs and budget.