BC Small Business Commercial Insurance: Business Type, Location, Leasehold Improvements, and Property, Liability and Business Interruption Coverage

Factors That Affect Small Business Premiums

Insurers consider a variety of factors when assessing small business premiums. The insurer considers the type of business operated when assessing small business premiums. In addition, premiums may be affected if the business location is in an area with a higher risk of severe weather.

Leased Premises and Leasehold Improvements

Even if you lease your business premises, you may have made improvements to the premises. A business that leases its business premises may also have leasehold improvements that should be insured.

Business Interruption Coverage

Business interruption coverage is typically an optional additional coverage under a commercial property policy.

Commercial Liability Coverage

Commercial liability insurance typically covers the business's liability for third-party bodily injury or property damage that the business is legally obligated to pay, as well as defence costs.

Sources

• How Business Insurance Rates are Set
• Types of Business Insurance Coverage

This article provides general information only and is not insurance, legal, or financial advice. Coverage is governed by current law and your policy wording.