Business Insurance

Small business insurance policies starting from $19 per month.

Getting insurance coverage for your business has never been this easy.

Trusted by over 300,000 Canadian small business owners!

Save up to 35% on your insurance

Get the best insurance quote in a few clicks!

Trusted by over 300,000 Canadian small business owners!

Save up to 35% on your insurance

Get the best insurance quote in a few clicks!

Get a Free Quote

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Why Choose Zensurance?

We help Canadian small business owners save time and money by providing
a convenient and affordable way to buy business insurance.

Convenience

Purchase your insurance anytime, anywhere, with our easy-to-use online platform.

Cost

Compare rates across leading insurance companies to ensure you get the best price on your premium.

Curation

We use data and analytics to identify the right insurance policies for your business.

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What is business insurance?

Business insurance protects business owners from losses due to unforeseen events that may occur during day-to-day business operations, including third-party property damage, errors, or bodily injuries.

There are many types of business insurance available for business owners. The type of coverage you need relies on several factors, including industry, size, and revenue.

Getting business insurance is essential to protect against your unique risks and to ensure the long-term survival of your business.

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Claims examples

General Liability

Problem: Your client slips on the stairs on their way into your company office, resulting in a sprained ankle.

Outcome: The client successfully sues your business for bodily injury. Your CGL coverage covers the legal expenses and medical fees, totalling $15,000.

Commercial Property

Problem: There is a fire in your office building, which results in damage to your office furniture and computer equipment.

Outcome: Your Commercial Property Insurance coverage covers the cost ($45,000) to replace the damaged items.

Directors Liability

Problem: Your non-profit organization fails to repay a loan from another organization for a charity event.

Outcome: Your organization is sued for breach of trust for failing to repay the funds. Your D&O Insurance covers the settlement fees.

Business insurance, explained.

What does business insurance cover?

Business insurance is used as an umbrella term to describe common types of insurance business owners require to cover third-party liability lawsuits or claims.

Explore the following commercial insurance policies for specific coverage information:

How much does business insurance cost?

For a small- to medium-sized business, you can anticipate spending $450 per year on a $2M General Liability policy.

The following factors are typically taken into consideration when determining the cost of your premium:

Business size and location;
Years of experience;
Annual and projected gross revenue;
Number of employees; and,
Insurance claims history.

In the online quote application, we ask your business some questions to understand your coverage needs better.

Who needs business insurance?

Regardless of size or industry, insurance is critical for your business’s long-term survival. Business liability insurance covers the financial costs associated with unforeseen events such as damage caused to third parties, accusations of professional negligence or defective products.

Your business is unique, and coverage requirements will vary. Speak with a broker to find a policy that suits your business needs.

Is insurance required to run a business?

Business Insurance is not required to run a business; however, it can protect you from costs associated with claims or lawsuits (e.g., legal fees, medical expenses) that may otherwise threaten your business’s survival. When it comes to deciding whether or not to insure your company, consider your profession.

For example, accountants must carry professional liability insurance to practice in Ontario.

What does business insurance not cover?

Business insurance provides coverage for incidents involving third parties and does not typically include coverage for yourself or your employees. Nor does it cover contractual liability, intentional criminal acts, cost guarantees, or cost estimates you provide.

Is business insurance tax deductible?

Yes – you can deduct the necessary cost of business insurance from your taxable income.

Insurance premiums you can deduct as business expenses may include commercial general liability insurance, professional liability insurance, commercial property insurance, cyber insurance, and more.

Frequently Asked Questions

How much business insurance do I need?Zensurance

How much business insurance do I need?

Canadian entrepreneurs often ask how much business coverage they should get. 1 million or 2 million? The answer as with many things insurance is: It depends. As your business coverage goes up so does your premium. If you can absorb the cost, the general advice is to get as much coverage as you can afford. Many business owners who have to file a claim and went for the cheapest option often wish they had gotten broader coverage. Evaluate the potential risks your business is exposed to and your budget.

Does business insurance cover personal use?Zensurance

Does business insurance cover personal use?

Generally speaking, business insurance does not cover personal use, meaning you cannot replace home insurance with business insurance. However, there are exceptions. If you operate your business from home, you can protect this space with business property insurance. If you use your vehicle for business purposes, it may be covered under your commercial auto insurance policy. However, home insurance does not typically cover the physical assets associated with your business, such as stock or inventory, or liability issues that occur in your homes, such as a slip and fall injury. It can be confusing, which is why we recommend speaking with a broker to understand the limitations and restrictions of your business insurance policy.

To protect both your home and business, consider keeping business separate from your personal life by protecting your assets with a business insurance policy and home insurance policy.

Do I need business insurance if I work from home?Zensurance

Do I need business insurance if I work from home?

The short answer is YES. While some personal home insurance policies could cover some personal items you use for work such as a laptop, a printer, a monitor or some tools, many times there are exclusions in your home policy that don’t cover home business items. In case of damage to your home or loss of equipment that prevents you from working, the loss of income will not be covered by your home insurance.