Business Insurance for the Winter
Winter is coming! This is of course, nothing new to Canadians, however before it does arrive once again, there are several important steps that we can take to make sure our lives run more smoothly and safely during the colder months.That being said, it is a good time, especially to revisit your business insurance to ensure you have the proper insurance to cover your needs during this time.Typically, winter will present conditions such as, a significant drop in temperature that can lead to icy and snowy weather. As such, these wintry weather realities can lead to a variety of risks that if not addressed, can have a detrimental impact on your business. Here are some types of insurance coverage that can effectively support your business needs for the duration of the winter season.
Commercial General Liability Insurance
With the presence of ice and snow, also comes slippery driving and walking conditions. While you can do your best to prevent this by removing snow and salting these areas, as well as taking precautions to avoid accidents inside your commercial space, the reality is that some times people will still slip and fall.
If these areas are on your property you can be found responsible for injuries that occur to others or their property. As a result, it is best to look into having the proper general liability insurance so that your business is protected from these types of incidences.
Commercial Property Insurance
While cold weather conditions can vary from provide to province, in BC, Canadian winters can mean a range of weather elements as well. For this reason, it is also important to ensure that you have the appropriate insurance to support cold and stormy weather of all kinds.
High winds, sleet, ice, and snow can also do damage to your business, so having Commercial Property Insurance should also be a top consideration. Not only can the winter cause damages to the outside of your building and external property, it can also impact the inside of your business by destroying equipment and other commercial assets.
Again, you may be found responsible for your business causing damage to other third parties and their property, and property insurance can help with these financial ramifications as well.
Therefore, it is well worth having another look at this type of coverage before the winter season arrives in full force.
Commercial Auto Insurance
One other area of business insurance to consider this winter is Commercial Auto Insurance.
Since your vehicle is also an extension of your business and can also be involved in these unwanted situation, it is a good idea to consider adding auto insurance coverage to your commercial insurance policy.
With slippery conditions, roads can be made more unsafe and accidents can unfortunately happen. Not only does auto insurance help with legal actions against you, it can also protect you from the potential losses associated with repair and replacements costs for your company vehicle.
To help offset the worry and expense of these types of incidents, it is definitely worth re-examining whether you have the best commercial auto insurance for the demands of the winter months.