Ontario Small Businesses: Review Exclusions Before Choosing Named-Perils or All-Risk

Coverage Under Named-Perils Policies

For small businesses in Ontario, understanding the basic types of commercial property insurance is essential. A named-perils commercial property policy covers only loss or damage caused by the perils specifically listed.

Exclusions Under All-Risk Policies

Another common option is an all-risk policy. Although its name suggests comprehensive coverage, an all-risk policy still does not cover loss or damage that is explicitly excluded.

Sources

• IBC — 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.