Business Insurance Alberta | Liability Insurance for Businesses
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Business Insurance for Alberta Entrepreneurs

Growing a company is challenging, but getting small business insurance should be easy. Our trusted advisors are here to guide you through the entire process.

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business insurance consultation

Alberta Business Insurance that Covers Your Risks

It’s vital to hold the right business insurance coverage for the risks you face. But, you have more important tasks to focus on than decoding confusing jargon and forms. Our experts take an educational approach, so you know that your policy covers the right risks at a reasonable price.

Stay Ahead of Risks

Every small business faces different risks, such as potential damage and injuries to your property, employees, products, equipment, and technology. You need an advisor that has a deep technical understanding of Albertan industries and their insurance needs. We help you stay ahead of risks and provide solutions that fit your unique situation.

business insurance risk management analogy using lego

Feel Confident About Your Coverage

With Lloyd Sadd, what you see is what you get. Our trusted insurance advisors take the time to explain exactly what’s covered in your policy, why it’s there, and what it costs. We offer creative insurance solutions that fit small business owners’ budgets.

commercial liability insurance for white collar business owners in alberta

Personalize Your Policy

Asking the right questions means that you get the right coverage. Our quotes are personalized and accurate, so that you get the protection you require. You can feel at ease knowing that your policy is customized to your exact needs.

business insurance for high risk sectors

Talk to a Helpful Expert

When you call Lloyd Sadd, you speak to an attentive insurance expert based in Alberta. Your success matters to us, and we have the local knowhow to get you there. Our advisors set clear expectations and follow up with you regularly, so you always know where your insurance stands.

certified insurance risk advisory tailored to your small business in alberta

Understanding Business Insurance in Alberta

You know you need small business insurance, but where do you start? We’ve answered some common questions from Alberta entrepreneurs.

Insurance protects you and your business from risks and unexpected events. For example, a product you create may injure or harm one of your customers. Your equipment or vehicles may get damaged or stolen. Or, a cybersecurity breach could expose and steal your customers’ data.

All of these incidents can be extremely expensive or prevent your company from running. Small business insurance covers these liabilities and helps you pay for costs that arise from damages or legal proceedings.

Small business insurance can be very affordable with the right plan. The annual cost depends on what coverage your company needs.

These factors have the highest influence on the cost of your business insurance:

  • Your policy coverages
  • Business size and revenue
  • Building size and location
  • Claims history

Every small business needs insurance. If you own property or employ staff, it’s legally required in Alberta. Beyond the basic requirements, small business insurance protects you against a variety of liabilities that arise when running a company. You receive financial coverage from the costs that come from any unexpected events or incidents.

No matter how big or small your business is, it’s smart to have an insurance plan designed to cover your unique situation. Our experts can build a package that works for your industry and budget, so contact us today to get started.

Your coverage depends on the type of small business insurance that you have.

A common kind of business insurance is property insurance, which protects buildings, furniture, files, and other physical assets from damage and theft. You also may choose errors and omissions insurance to shield you from lawsuits that could arise if you make a mistake at work. Product liability insurance protects you if a customer gets injured using your products.

Our advisors will work with you to determine which insurance coverage is needed to protect the long-term health of your business. Reach out to us now to build your plan.

Insurance policy exclusions are specific situations or events that your plan does not cover. These exclusions vary depending on the type of coverage, but often include intentional acts, illegal activities, and certain natural disasters. Understanding these exclusions is crucial to ensuring you have the right coverage for your business’ needs.

Yes, it’s essential to review your business insurance coverage on a regular basis. As your business evolves, so do its risks and liabilities. Regular reviews keep your insurance aligned with your current operations and industry standards. This prevents gaps in coverage and potentially saves you from unforeseen financial losses.

Hear from Successful Alberta Small Businesses:

Extremely knowledgeable. [They] explain everything, [and] excellent response to our needs.

Irene Harnett

Jason's Mobile Steam Ltd.

One of the main reasons is the people. The Company has a sense of urgency. They've held our hands and walked us through many things together. There are lots of brokers out there, the reason we choose to work with Lloyd Sadd is the people.

Vik Mahajan

CEO
River Cree Enterprises Limited Partnership

They are professional, trustworthy and I like the way they treat me.

Katherine Jones ED

Alberta Foster and Kinship Association

Business Insurance for All Industries

Your industry has special operating conditions, and our experts understand the risks that go along with them. We’ll help you build the right coverage for your business.

Contractor Insurance

Renovations, electrical, heating, landscaping, drywall, and more

  • Customize coverage to your risk level, business type, and any special requirements
  • Protect you against financial damages from property loss or bodily injuries
  • Bundle your liability insurance with commercial vehicle insurance and other policies
Hospitality Insurance

Restaurants, fine dining, catering, bakeries, food trucks, and more

  • Create an affordable insurance plan customized to your needs
  • Cover your food inventory, goods in process, and products in transit
  • Protect you against financial damages from property, equipment, and customers
Retail Insurance

Clothing, grocery, electronics, general store, antiques, and more

  • Protect your operations from coverage gaps at the lowest possible price
  • Develop a safety plan to reduce risks unique to retail industry, such as employee theft
  • Work with insurers that approach claims with compassion and understanding
More Small Business Industries We Cover
  • Construction
  • Property & Real Estate
  • Hospitality
  • Oil & Gas Contractors
  • Architects & Drafters
  • Lawyers
  • Food Processors
  • Janitors
  • Health & Fitness
  • Amateur Sports
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Renovations, electrical, heating, landscaping, drywall, and more

  • Customize coverage to your risk level, business type, and any special requirements
  • Protect you against financial damages from property loss or bodily injuries
  • Bundle your liability insurance with commercial vehicle insurance and other policies

Restaurants, fine dining, catering, bakeries, food trucks, and more

  • Create an affordable insurance plan customized to your needs
  • Cover your food inventory, goods in process, and products in transit
  • Protect you against financial damages from property, equipment, and customers

Clothing, grocery, electronics, general store, antiques, and more

  • Protect your operations from coverage gaps at the lowest possible price
  • Develop a safety plan to reduce risks unique to retail industry, such as employee theft
  • Work with insurers that approach claims with compassion and understanding
  • Construction
  • Property & Real Estate
  • Hospitality
  • Oil & Gas Contractors
  • Architects & Drafters
  • Lawyers
  • Food Processors
  • Janitors
  • Health & Fitness
  • Amateur Sports

Protecting your business has never been easier.

Get a free quote today and receive a custom risk consultation.

How to Get Business Insurance in Alberta

Signing up for business insurance should be simple and stress-free. Our advisors will help you through each step, so you can get coverage quickly and easily.

  1. Call us at 1.800.665.5243 or fill out our online form to get a quote.
  2. Within one to two business days, an advisor will reach out to you and ask you more questions to get to know your business and insurance needs.
  3. Your advisor will send you the applicable forms to fill out. You can take your time to gather the information. Be sure to call us at 1.800.665.5243 or email your advisor if you have any questions along the way. We are here to walk you through every step.
  4. Once you’ve provided the necessary information, we will go to the insurance market on your behalf and contact you to provide you with your insurance options.

Navigating Business Insurance Claims in Alberta

You’ve experienced damage, theft, loss, or a lawsuit against your business. This can already be overwhelming. When you need to make an insurance claim, you can count on Lloyd Sadd to make the process as simple and smooth as possible.

  1. Call your local Lloyd Sadd office as soon as you can. If you need to make a claim after business hours (Monday to Friday, 8 am to 4:30 pm), call our emergency claims line at 1.888.222.1760.
  2. An advisor will ask you a few questions to learn about the incident. You may be asked to send more details and pictures over email.
  3. Your insurer will follow up with you about the next steps for your claim. An adjuster may contact you and visit you to assess any damage. Your insurer will keep you updated about the status of your claim throughout the whole process.
  4. Your insurer will let you know if you’re eligible for your claim, what the deductible will be, and how much you will be paid. They will also share the timeframe for when you can expect a deposit into your bank account.

FAQs: SMALL BUSINESS INSURANCE ALBERTA

The minimum business insurance required in Alberta varies by industry and business type. However, general liability insurance is often considered a foundational coverage. It’s smart to consult with an insurance professional to determine the specific requirements for your business to comply with Alberta regulations.

Business insurance protects you from lawsuits by covering legal expenses, court costs, and settlements or judgments that may arise from third-party claims. This can include bodily injury, property damage, or advertising injury claims. Having the right coverage can shield your business’s financial stability and reputation in the event of legal challenges.

Yes, you can bundle different types of business insurance policies. Bundling can often save you money and can simplify managing your plan. You can combine coverages such as general liability, property insurance, and business interruption insurance into a comprehensive package tailored to your specific business needs.

While liability insurance for sole proprietorships is not mandatory, we do highly recommend it. Liability insurance protects you personally from business-related lawsuits, covering legal costs and potential damages. It provides a crucial layer of financial security, separating your personal assets from your business liabilities, and can be essential in protecting the future of your sole proprietorship.

Ready to get started?

Give us a call at 1.800.665.5243 or fill out our online form. Our experts will reach out to you to create the best insurance plan for your needs at an affordable price.