Protect against business losses

Business owners invest a great deal of time and effort into building a profitable business. But all too often, many neglect to protect their investment with adequate insurance coverage.

Whether you are self-employed or operate a business with several employees, you need adequate insurance coverage to protect your business. AMA offers a variety of package policies for all types of businesses. We can help tailor your insurance portfolio to include coverage for you as the business owner, the property belonging to the business or used for business purposes, and liability insurance. And, since no two businesses are alike, policies can be customized with optional coverages.

There are several types of insurance for businesses:

Building and property damage

Adequate insurance for your building, equipment and/or inventory is essential. The amount of coverage can be tailored to meet your unique business needs. Most types of accidental loss or damage, such as fire, storms, theft and burst pipes, can be insured against. Coverage for water escape and sewer backup is available in most areas. Additional coverage may include protection against bylaw-compliance costs and spoilage of perishable inventory.

Business interruption

A company's earnings can be affected by interruptions to business activities that result from loss or damage to your property. Business interruption coverage pays for income lost if your business is unable to operate for a period of time due to an insured loss, such as fire or water escape in your office.

Crime

Crime coverage protects your business against loss of money and securities resulting from a robbery, theft, embezzlement and similar criminal acts. Business earnings can be severely affected, for example, by a dishonest employee. Your insurance should include coverage against loss of cash, cheques, bonds and similar securities.

Liability coverage

Liability insurance protects against most types of third-party bodily injury and property damage that your business or employees could be held legally responsible for.

Commercial auto insurance

Commercial auto insurance policies include the use of your vehicle for business and cover damage to your vehicle and any responsibility you may have to others. Personal vehicle insurance is inadequate if you use your vehicle for business purposes.

Home business floater

Home insurance covers personal property used for business purposes, but only to a certain limit (usually $2,000), and then only when the equipment is in the home. If you plan to work from your home, get a business insurance package policy to cover your office equipment and to protect against liability associated with your business.

The coverage you need depends on the type of business you operate. An AMA insurance representative can help make sure you have the protection you need.

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