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Business Liability Insurance and Your Garage Policy

Josina Myrie • My Insurance Broker
Jan 30th, 2017 at 01:52 pm  •  Richmond Hill, ON

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Why is Commercial General Liability Insurance so important?

You have worked tirelessly and invested many hours into your business that you have built from the ground up, whether your business is home-based or not, “liability insurance” provides important coverage for your business. Commercial General Liability Insurance exists to protect your business against liability losses arising from legal claims made by third parties, for bodily injury and property damage. If you are held legally liable, your business liability policy would cover compensatory damages as well as defence costs in the event of a lawsuit. Legal costs to conduct a defence can amount to hundreds of thousands of dollars. Without Commercial Liability Insurance, your company could be exposed to huge financial risks and may even go bankrupt from liability claims.

Protect your business from liability losses arising from Bodily Injury Image Source.

What is included in my Commercial General Liability Policy?

Your Commercial General Liability Policy provides the following types of coverage for your business:

Will my Commercial General Liability policy cover my profession?

If you work in particular professions such as the Health Care Industry or provide professional advice, then you will need to have a Special Liability Policy. Your general liability policy will not cover incidents relating to malpractice or errors and omission and it is therefore imperative that you get the right coverage to cater to your insurance needs. Individuals who offer health care services such as doctors, dentists and druggists need to protect themselves with Professional Liability/Malpractice/Errors and Omissions Insurance (depending on the insurance company), in order to cover expenses related to the rendering or failure to render professional services. A surgical procedure gone amiss, a prescription filled erroneously or the failure to provide proper medical treatment to a patient, can all attract medical lawsuits and expose your practice to liability losses. Malpractice Insurance would be able to provide payment for compensatory damages and defence costs before a court of law.

Contact a My Insurance Broker Advisor today to obtain a group rate for your Professional Liability Coverage at 1(855) 482-5001.

Do you give professional advice or consultation services?

If you give professional advice to your clients or provide consultation services, then you also need to obtain a Professional Liability or Errors and Omissions Insurance. Professionals such as accountants, architects and financial consultants will need this type of insurance, in the event that they offer erroneous advice to their clients. Your Errors and Omissions liability insurance would protect you in the event of a lawsuit.

I have a home-based business, will I still need Liability Insurance?

If you operate a home-based business, you will need to have a separate business insurance to cover your liability exposure. Whilst your Home Insurance Policy may provide minimal coverage as it relates to your commercial assets (while on the property), it may not cover liability exposure relating to your profession. Consider the legal implications if one of your customers were to slip and fall on your property and you did not have liability insurance! This could expose your business to huge legal costs and compromise its continued existence.

My Insurance Broker provides coverage to home business owners under its uBiz Insurance plan. Your uBiz home business insurance plan would provide:

Protect the business you have worked so hard to create, the time you have invested and your passion! Professionals can now get fast and convenient quotes and even buy insurance online on our website We also offer a range of simple, affordable insurance options designed especially for you. You can rest assured knowing that your home business will be protected in the event you were found legally liable.

Garage Liability Insurance/Garage Policy

Businesses that participate in the care, custody and control of their customers’ vehicles need to obtain a garage policy. Garage Liability Insurance provides coverage for repairing garages, used car dealers, detailing guys and valet parking companies. Coverage is provided for physical damage to customers’ automobiles when the insured is held legally liable for such damage. You will need to obtain Commercial General Liability Insurance however, in addition to your Garage Policy, in the event there were a legal claim and you were found negligent.

If you operate or deal in the sale, repair, detailing, storage, parking or servicing of automobiles, it is imperative that you obtain a Garage Policy. Not only would your garage policy cover liability charges of non-owned automobiles, it would also cover the liability, accident benefits, Uninsured Automobile and Direct Compensation Property Damage exposures of your full time employees and active partners, while driving automobiles owned by the company.

What are the advantages of contracting a My Insurance Broker Advisor?

Insurance brokers give expert advice on insurance and counsel on risk management. My Insurance Broker is dedicated to helping, serving and educating our clients. We will work with you to identify the types of risks your company is vulnerable to and create a customized insurance plan that will offer you the most comprehensive coverage a competitive price. We are one of Ontario’s fastest growing on-line and community dedicated brokerages, and our brokers possess over ten years’ experience in the insurance industry.

Contact a My Insurance Broker Advisor today 1 (855) 482-5001 and find out how to protect your business from potential liability losses!

Compare Auto Insurance Quotes.
Compare The Best Auto Insurance Rates From Canada's Top Insurance Companies.
Average savings $500. Coverage available from $1,000,000 to 2,000,000.


- Insurance Bureau of Canada. Occupier’s Liability: Slips, Trips and Falls. (2011). Retrieved from
- Insurance Bureau of Canada.
- Financial Services Commission of Ontario. Ontario Garage Automobile Policy (O.A.P.4). Retrieved from