Author: beneficialinsurance
Public liability insurance is a vital component of any business’s risk management strategy. It provides protection against claims made by third parties for injuries or damages that occur on your premises or due to your business operations. However, while this type of insurance is crucial, it’s important to understand that there are certain limitations. Many business owners assume public liability insurance will cover all eventualities, but there are exceptions that could leave you exposed to significant financial risks. Knowing what your policy excludes is just as important as knowing what it includes. If you are comparing insurance companies in Calgary,…
Running your own business as a sole trader can be a rewarding and liberating experience. You get to enjoy full control over your business, and the flexibility to shape its future. However, with this freedom comes the responsibility of protecting both your livelihood and your assets. As a sole trader in Calgary, AB, navigating the insurance landscape is a critical step toward securing your business and ensuring long-term success. 1. General Liability Insurance General liability insurance is a fundamental requirement for most businesses, including sole traders. This coverage protects you from third-party claims arising from accidental damage to property or…
In today’s digital age, businesses rely heavily on technology to operate efficiently, but this dependence also makes them vulnerable to cyber threats. Cybercrime has become a growing concern, with data breaches, hacking, and ransomware attacks increasingly targeting organizations of all sizes. For businesses looking to stay ahead of these risks, it’s essential to consider the benefits of cyber insurance. Choosing the right insurance company in Calgary can help protect your business from financial and reputational damage caused by cyberattacks. The Rise of Cybercrime Cybercrime continues to rise globally, and businesses are frequently targeted. Whether it’s stealing sensitive customer data, locking…
For many business owners, safeguarding assets goes beyond simply protecting their own property. When handling third-party assets, having the right insurance coverage is vital. This is where care, custody, and control (CCC) insurance becomes important. Whether you’re a small business owner or a large company, understanding how CCC insurance works can help you avoid unforeseen risks and liabilities. What is Care, Custody, and Control Insurance? Care, custody, and control insurance is a specialized coverage designed to protect businesses that are entrusted with third-party property. The primary function of this policy is to provide coverage for damage or loss of property…
Running a business comes with various risks, and securing business insurance is one of the key ways to protect your company from unforeseen challenges. However, when selecting a policy, business owners often find themselves in a dilemma: should they opt for a higher excess (deductible) or a higher premium? Both choices come with their own advantages and trade-offs, and the right decision will depend on your specific business needs. As you evaluate your options, it’s crucial to make informed decisions, particularly if you’re searching for a reliable insurance company in Calgary. Understanding Excess and Premium in Business Insurance In the…
When it comes to running a successful business, minimizing risk is essential. For those in industries that frequently hire subcontractors, ensuring that these individuals or companies carry their own insurance is a vital part of this risk management strategy. While some may overlook this step, it can have significant consequences if subcontractors are uninsured or underinsured. Collaborating with an experienced insurance broker in Calgary can help protect your business and ensure that your subcontractors meet industry standards. Protecting Your Business from Liability One of the primary reasons to ensure subcontractors carry their own insurance is to shield your business from…
Securing the best mortgage rates is a crucial step in the journey to homeownership. The rate you lock in can significantly impact your monthly payments and the overall cost of your home over the life of the loan. Whether you’re a first-time homebuyer or looking to refinance, understanding how to get the most competitive mortgage rates is essential. 1. Understand the Market Mortgage rates fluctuate based on various economic factors, including inflation, the housing market, and central bank policies. Keeping an eye on the current trends in the mortgage market can help you decide the right time to lock in…