Business Insurance Quote: Additional Coverage
Please Be Aware: Quotes are available to West Kootenay Businesses and Residents only.
| Professional Liability |
| Also known as Errors and Omissions or Malpractice Insurance commonly sold to consultants who can cause financial loss from their actions rather than injury or damage. |
| Loss Of Earnings |
| If an insured peril forces you to shut down and or lose business there are several forms available to indemnify your loss. Earnings covers your monthly loss up to the stated time but you must be able to substantiate your earnings and mitigate your claim. Extra expense pays a % in several intervals so you can continue normal operations by renting other premises, renting equipment or advertising. This form is common for offices or small retailers that can quickly relocate in order to retain their customers. Profits is the broadest form and it is mainly used for manufacturers or large retail outlets. |
| Sewer Backup, Flood and Earthquake |
| Policies cover water damage from the internal plumbing system but you require this extension for water/sewage backing up through a toilet or floor drain. Flood is another extension that covers losses such as release from reservoirs/dams etc. While we are in a low rated earthquake zone the deductible is usually 5% of the insurance amount. |
| Boiler and Machinery |
| If your equipment exceeds a certain pressure per square inch (usually 15 lbs.) you require this endorsement which also includes mechanical breakdown, consequential loss. An example: food
spoilage and loss of earnings. |
| Valuable Papers and Accounts Receivable |
| If you have valuable papers, books or drawings this extension will pay the cost to duplicate your files. Accounts coverage is required if you lose your accounts receivable records from an insured peril. |
| Computer or Data Processing |
| This is usually covered under the basic policy but this endorsement extends coverage to include mechanical breakdown, broader power surge and software coverage. |
| By-Laws |
| This coverage is required if your building is subject to a by-law which states that after a loss you are forced to upgrade including sprinklers, handicap facilities or major structural changes. |
| Crime |
| Includes coverage for money and securities with 2 options. Robbery coverage for on premises or on the way to make a bank deposit. Broad form includes overnight coverage from burglary and some forms even include disappearance. Robbery is being threatened with a violent act while burglary only
requires forced signs of entry. |
