Tick off the facts, documents and contract terms to gather before asking for business liability quotes.
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Use this checklist in the four to six weeks before your commercial liability policy renews, or before you apply for the first time. Your ticks are saved in your browser only, so you can come back to it.
Why the order matters. An underwriter prices your business from the description, revenue, payroll and claims history you give, so getting those right comes first. Contract requirements come next because a lease or client agreement may set a minimum limit, demand additional insured status or require 30 days' notice of cancellation; a quote that ignores them may be cheap but useless. Only then compare quotes, and compare them on the same limits, deductibles and coverage parts.
Example. A small landscaping firm reports $380,000 of revenue but forgets that it also installs patios. The quote comes back low because it is rated as lawn care only. If a patio later shifts and damages a neighbour's foundation, the insurer can argue the activity was never disclosed. Ticking the first item, and describing every activity, avoids that argument.
Limits. The checklist is general. Your industry may have extra requirements, such as mandatory professional liability set by a professional order or regulator. Your broker can tell you what an insurer will ask for your sector; you can then compare offers with the liability quote comparison tool.
Worked Quotes and Checklists
A step-by-step checklist for getting business liability insurance quotes in Canada, from the information underwriters ask for to choosing a broker and binding cover.
Worked Quotes and Checklists
What a certificate of insurance proves in Canada, how additional insured, waiver of subrogation, cross liability and notice of cancellation clauses work, with a lease clause worked through.
