Answering Common Questions About Small Business Insurance

Insurance is an aspect of starting a small business that is often overlooked. It can also be a minefield because the business owner is typically a first-time policyholder. The following will answer some common questions about small business insurance.

What Is Small Business Insurance?

Small business insurance is coverage that protects against liability and property damage. It can also be used to cover both physical injury and false claims against the business.

What Is the Purpose of Small Business Insurance?

The purpose of small business insurance is to provide protection from financial loss. This may include expenses related to defective products or services, employees injuring or killing themselves or customers, property damage or other accidents, or other losses.

When Should I Consider Small Business Insurance?

It is best to consider small business insurance before opening a business. If you don’t have a policy in place when an incident happens, you may not be able to get it later.

Do I Need a Commercial Policy?

A commercial policy is required for most businesses, such as restaurants, hotels, and retail stores. For most small businesses, a commercial policy is the best option. A commercial policy can also help if you decide to enlarge your business.

What Is Commercial Property Insurance?

Commercial property insurance covers owned structures and structures rented by the business. It is essential to have coverage in place if something happens to the building, such as a fire.

What Is Commercial General Liability Insurance?

Commercial general liability insurance helps protect against liability issues related to bodily injury and property damage. It also helps cover both business and personal injury claims.

What Is Commercial Property and Liability Insurance?

Commercial property and liability insurance combines a commercial property policy and a commercial general liability policy. This type of policy is typically more affordable than having separate policies.

What Is Commercial Automobile Insurance?

Commercial automobile insurance provides coverage for owned vehicles and vehicles rented by the business. A commercial policy covers injuries and property damage that may occur while the car is in use. It also covers damage to the automobile.

What Is Business Interruption Coverage?

Business interruption coverage can provide income while a business is out of commission due to a disaster. The coverage pays a monthly payment to the business owner.

What Is a Business Owners Policy?

A business owner’s policy is a combination of property, liability, and automobile insurance. It is a common type of small business insurance that can be purchased from a property and casualty agent.

How Is Commercial General Liability Different From Commercial Property Insurance?

Commercial general liability is not used as often as commercial property insurance. A business would need to be planning to rent out property or use property in a way that causes the risk to others, such as a retail store.

What Is Commercial Business Insurance?

Commercial business insurance is a liability policy to help protect against personal injury and property damage related to business operations. It is also used to cover false claims made against the business.

What Is Commercial Umbrella Liability Insurance?

Commercial umbrella liability insurance is a policy that provides an extra layer of coverage in the case of significant expenses. This can help protect assets such as buildings and vehicles.


Small business insurance can help protect your business from financial loss. There are many policies available to cover both liability and property damage. Before starting a business, it is a good idea to find out exactly what types of insurance it needs.

If you are looking for commercial insurance brokers, trust Kirkham Insurance. We are proud to be one of the leading insurance companies in Lethbridge, offering a wide range of policies. Get an online quote today!

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