Commercial insurance quotes for Ottawa & Ontario based businesses.
Find the best commercial insurance rates in Ottawa
KBD is an Ottawa commercial insurance broker with 40+ years of experience in the industry.
We offer business insurance coverage to small and medium sized companies located within Quebec & Ontario
Comparing rates from Canada’s leading business insurance companies
Small & medium business
insurance coverage we provide
insurance coverage we provide
Liability
We provide corporate liability insurance to start-ups as well as companies that have existed for many years.
Property
Coverage for your company’s assets (building, equipment, stock, office contents, etc.) that insure against perils like fire, theft, water and more.
Cyber
Insurance that protects your business from cyber attacks and cyber liability.
Speak with the same expert every time you call
Your own dedicated representative.
If you are looking for peace of mind and to save time – you need someone who knows how to handle your affairs. KBD provides each customer with the same dedicated commercial insurance expert to handle all your insurance needs.
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Ottawa business insurance FAQs
What kind of insurance does a business owner need to carry in Ottawa?
Ottawa businesses can benefit from any of the following types of commercial insurance:
- Commercial property insurance
- Commercial liability insurance
- Commercial vehicle insurance
- Professional liability insurance
- Business interruption insurance
- Cyber insurance
To learn more about the specific types of business insurance Ottawa companies might need, please visit the drop down menus at the top of the page.
How much does commercial insurance cost in Ottawa?
Ottawa small business owners should expect to pay between $500 – $5,000 in annual premiums. Yes, that’s a wide range. That’s because there are a lot of factors that determine the cost of an Ottawa small business insurance policy.
Commercial insurance prices are set on a case by case basis and reached through an assessment of your company’s profile. An underwriter determines the potential risk of insuring your company, taking into account the following information about your business:
- Annual revenue
- Industry
- Claims history
- Location
…and more.
Insurance companies have the data to tell them things like which industries are responsible for the most claims and in which neighbourhoods occur the most theft. That’s why these bits of information affect your insurance rate.
Note: For many companies, location has become less important with the rise of remote work. But for companies that sell physical goods and have retail stores or warehouses, location is still a factor.
What are the minimum requirements for Ottawa business insurance?
There are no minimum requirements for commercial insurance in Ottawa! As a business owner, you can insure your business how you see fit.
A lender or bank providing you a mortgage, however, will require you to carry insurance to protect your asset.
And at KBD, we highly recommend making commercial insurance part of your budget. Lawsuits can be a nuisance, and at worst, can put your company out of business. To get ahead of a potentially devastating situation, buy a commercial general liability (CGL) policy at the very least.
How much commission do commercial insurance brokers make in Ottawa?
Between 10%-25%.
Ottawa business insurance brokers collect a commission on each of their clients’ premiums every time one is renewed. A typical broker takes home 20% on each policy, and they’re paid out at the time the contract is renewed.
How does it work?
Let’s say you go through a broker to sign up for a business insurance policy. If your premium is $1,000/year, your broker earns $200 (assuming a 20% commission) at the policy’s start date and every subsequent year that you maintain your insurance policy.
What insurance do you need when running a business?
You technically don’t need business insurance in any form, but we strongly recommend a commercial general liability (CGL) policy at the very least.
Commercial insurance in Ottawa is not like car insurance, which drivers are legally required to carry. Ontario businesses are not forced by law to be insured. At KBD, however, we believe CGL to be a necessity in order to protect your business against most forms of legal action. How can CGL save you? In the event your company is responsible for causing third party property damage or bodily injury.
Pro tip: While business insurance is not mandatory, a bank or lender will require you to carry it if you have a mortgage or a lien with them on property or equipment.
How can I save on my Ottawa business insurance cost?
There are four main ways to keep your Ottawa business insurance costs low.
1. Avoid making small claims
The more claims you make, the higher your premiums can go. That’s because claims make you unappealing in the eyes of an insurance company. Every time you submit one, you cost your insurance company money, so your next year’s premium raises. If you’re going to make a claim, make sure it’s worth it. Too many claims in a short period of time can render you uninsurable. Don’t use your insurance policy as a maintenance package. Claim big or not at all.
2. Raise your deductible
The higher the deductible you’re willing to take, the less your broker will charge you for your premium. And since you shouldn’t be making small claims, there’s no reason to carry a small deductible. For example, the difference between a $1,000 deductible and a $10,000 deductible can be anywhere from 10% – 25%.
3. Install alarm and sprinkler systems
Preventative measures like these are gold in the eyes of insurance companies. And they should be gold for you too. You don’t want any disasters in your place of business, and you don’t want to make claims either. Avoid both by installing safety features like fire or theft alarms that significantly decrease your likelihood of serious damage that might result in a claim.
4. Take cyber security seriously
Just like you want to protect your physical property, you want to protect your cyber property too. Cyber attacks are nothing new, and they’re not going away either. Hackers are becoming more sophisticated all the time. Don’t leave yourself vulnerable to a breakdown — have a disaster plan in place, back up your network, and be prepared for ransomware. Spread employee awareness too so that your people are on the lookout for suspicious emails and websites.
What kind of insurance does a business owner need to carry in Ottawa?
Ottawa businesses can benefit from any of the following types of commercial insurance:
- Commercial property insurance
- Commercial liability insurance
- Commercial vehicle insurance
- Professional liability insurance
- Business interruption insurance
- Cyber insurance
To learn more about the specific types of business insurance Ottawa companies might need, please visit the drop down menus at the top of the page.
How much commission do commercial insurance brokers make in Ottawa?
Between 10%-25%.
Ottawa business insurance brokers collect a commission on each of their clients’ premiums every time one is renewed. A typical broker takes home 20% on each policy, and they’re paid out at the time the contract is renewed.
How does it work?
Let’s say you go through a broker to sign up for a business insurance policy. If your premium is $1,000/year, your broker earns $200 (assuming a 20% commission) at the policy’s start date and every subsequent year that you maintain your insurance policy.
How much does commercial insurance cost in Ottawa?
Ottawa small business owners should expect to pay between $500 – $5,000 in annual premiums. Yes, that’s a wide range. That’s because there are a lot of factors that determine the cost of an Ottawa small business insurance policy.
Commercial insurance prices are set on a case by case basis and reached through an assessment of your company’s profile. An underwriter determines the potential risk of insuring your company, taking into account the following information about your business:
- Annual revenue
- Industry
- Claims history
- Location
…and more.
Insurance companies have the data to tell them things like which industries are responsible for the most claims and in which neighbourhoods occur the most theft. That’s why these bits of information affect your insurance rate.
Note: For many companies, location has become less important with the rise of remote work. But for companies that sell physical goods and have retail stores or warehouses, location is still a factor.
What insurance do you need when running a business?
You technically don’t need business insurance in any form, but we strongly recommend a commercial general liability (CGL) policy at the very least.
Commercial insurance in Ottawa is not like car insurance, which drivers are legally required to carry. Ontario businesses are not forced by law to be insured. At KBD, however, we believe CGL to be a necessity in order to protect your business against most forms of legal action. How can CGL save you? In the event your company is responsible for causing third party property damage or bodily injury.
Pro tip: While business insurance is not mandatory, a bank or lender will require you to carry it if you have a mortgage or a lien with them on property or equipment.
What are the minimum requirements for Ottawa business insurance?
There are no minimum requirements for commercial insurance in Ottawa! As a business owner, you can insure your business how you see fit.
A lender or bank providing you a mortgage, however, will require you to carry insurance to protect your asset.
And at KBD, we highly recommend making commercial insurance part of your budget. Lawsuits can be a nuisance, and at worst, can put your company out of business. To get ahead of a potentially devastating situation, buy a commercial general liability (CGL) policy at the very least.
How can I save on my Ottawa business insurance cost?
There are four main ways to keep your Ottawa business insurance costs low.
1. Avoid making small claims
The more claims you make, the higher your premiums can go. That’s because claims make you unappealing in the eyes of an insurance company. Every time you submit one, you cost your insurance company money, so your next year’s premium raises. If you’re going to make a claim, make sure it’s worth it. Too many claims in a short period of time can render you uninsurable. Don’t use your insurance policy as a maintenance package. Claim big or not at all.
2. Raise your deductible
The higher the deductible you’re willing to take, the less your broker will charge you for your premium. And since you shouldn’t be making small claims, there’s no reason to carry a small deductible. For example, the difference between a $1,000 deductible and a $10,000 deductible can be anywhere from 10% – 25%.
3. Install alarm and sprinkler systems
Preventative measures like these are gold in the eyes of insurance companies. And they should be gold for you too. You don’t want any disasters in your place of business, and you don’t want to make claims either. Avoid both by installing safety features like fire or theft alarms that significantly decrease your likelihood of serious damage that might result in a claim.
4. Take cyber security seriously
Just like you want to protect your physical property, you want to protect your cyber property too. Cyber attacks are nothing new, and they’re not going away either. Hackers are becoming more sophisticated all the time. Don’t leave yourself vulnerable to a breakdown — have a disaster plan in place, back up your network, and be prepared for ransomware. Spread employee awareness too so that your people are on the lookout for suspicious emails and websites.