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Written by Nolan Wilson Updated on September 11, 2025 min read

Save on commercial insurance customized for your business

Protecting your business and helping you save on coverage is the top priority for our commercial insurance brokers. You’ve worked hard and invested a lot of time and money to build your business. So, it's essential to have reliable commercial insurance to protect the financial well-being and best interests of your small or large business.

As a leading commercial insurance broker, ThinkInsure works with the top commercial insurers in Canada. Our brokers will work with you to understand your needs to create a customized business insurance policy and we'll shop and compare rates to save you money. Commercial insurance doesn't need to be complicated or confusing when you work with a ThinkInsure broker. Get free a quote today and protect your business for a great rate.

Key takeaways about commercial insurance

Commercial insurance is not legally required, but it is highly recommended for all types of businesses, small, SMBs, and large enterprises.
Small businesses can expect to pay between $500 and $2,500 per year or more for a commercial insurance policy.
Every business has unique coverage needs and a commercial insurance broker can help assess threats to your company and compare coverage solutions to find the best policy.
Our commercial insurance brokers are trusted experts in helping Canadian businesses get the protection they need for a better rate.

How to get commercial insurance

We can help your Canadian business, whether small or large, get insured. Tell us about your operations, and our commercial insurance brokers will find the best policy at a competitive rate.

Begin your quote

Click here to start a quote and tell us about your business.

Compare quotes and options

We will compare rates from the leading commercial insurance companies.

Choose the lowest quote and get insured

Choose the cheapest quote and get your policy!

What is commercial insurance?

Commercial insurance is a form of protection available to all businesses. It protects business owners against financial losses because of threats and unforeseen events that could happen when running a company. There are many types of coverage. You can get protection for disruption, financial loss, property damage, employee injuries, liability, and more.

As a Canadian business insurance broker, we can help you assess your requirements based on potential risks, industry, operations, size, and other factors. We'll help you choose the best plan for your business type, industry, and perils.

Why do you need commercial insurance?

Business team sitting in office having a meeting

Business insurance protects your investment in your company. You’ve put in countless hours of work and invested your hard-earned money. You’ve done everything you can to make your business a success. Insurance ensures you stay successful and protects you from unforeseen events and actions.

According to IBC, Canadian businesses filed over $10 billion in combined commercial property and liability claims. The reality is that most businesses will only survive a major loss if they have a strong commercial policy. Without a plan, you would have to pay for all losses out of pocket. Are you prepared to do this?

No business owner wants the future of their company to be in jeopardy. Insurance ensures your business is covered! It protects you from a variety of things, including:

Unforeseen events
Injuries to customers, employees and others at your place of business
Fire, theft, vandalism
Liability claims
Other perils

What are the benefits of commercial insurance?

Buying commercial insurance can do more than protect your company. It can also help your business build trust and brand credibility, and help acquire new revenue streams :

Brand credibility: Insurance helps communicate to customers and business partners that you are a legitimate organization.
Build customer trust: People are more likely to trust and do business with you if you are insured.
It can help earn new business: Many potential clients and partners may choose not to do business with you if you are uninsured.
Peace of mind in knowing you have coverage: Insurance provides another layer of financial protection.

Business owners can overlook these benefits. Proper insurance also plays a key role in your company's development and growth. It gives you protection and the support you need to sustain operations, especially during the early or lean years.

How does commercial insurance work in Canada?

Generally, when you purchase insurance, your premiums are placed in a pooled fund with other companies. This money is used to help businesses when they experience a loss. Claims payouts are drawn from this pool.

Commercial insurance works similarly to other insurance products. It is a contract between your business and your insurer. You pay a premium in exchange for the insurer covering you against a list of defined threats and unforeseen events.

You will pay the deductible amount listed in your plan. Policies typically are effective for one year, and you can renew them annually. You can adjust your coverage at any time.

What is a commercial insurance broker?

A commercial insurance broker helps businesses compare quotes and find the best coverage for thier needs. They act as an intermediary between an insurer and your organization. They work for you, not the insurer.

Commercial insurance brokers are strategic partners and work with you to find the right combination of coverage to protect you from common threats in your industry and location in Canada.

What are the benefits of using a commercial insurance broker?

Using a commercial insurance broker can give you the support you need when shopping for a policy. Let’s face it, insurance can be complicated. There are many different terms and coverage types, and it can be challenging to know what forms of protection you need, especially in an ever-changing marketplace.

You are busy enough as it is. Rather than try to figure it out for yourself, leveraging the experience of a local commercial insurance broker will ensure you find the right solution to meet your unique insurance requirements. Using a broker is free.

Getting insurance through a broker offers many advantages, including:

Threat assessment and mitigation: Get help identifying major threats and enact solutions to mitigate them.
Unbiased advice: Brokers operate in your best interests. Get explanations about technical terms in a language you can understand.
You have more options: They help you compare products from multiple insurers to help you choose a solution that makes sense.
Cost savings: Assessing rate options will help you better understand what the market offers.
Advocacy: Get support from an industry professional when dealing with insurers.
Claims assistance: You are not alone during the claims process.
Personalized connection: You will work directly with a real person, with a direct line to someone who can help you with all your needs.

How much does commercial insurance cost?

Insurance rates are different for every business, and each company has a unique combination of insurance needs. Smaller sized businesses can expect to pay between $500 and $2,500 per year or more for a standard business policy, which is anywhere from $60 to $210 per month. However, costs can increase significantly for larger businesses.

Costs are dependent upon the answers to these questions:

What do you do? What products and services do you offer?
What industry do you operate in?
How much are you worth?
How big is your company? How many employees do you have?
Where are you located? Do you have more than one location?
What things could impact your business the most?
What type of protection do you require?

To get an accurate estimate, shop around for quotes. Our business insurance brokers are happy to help you with this process.

What are the different types of commercial insurance coverage?

You could include many types of coverage in a business insurance policy. Protection needs vary by business, so commercial insurance policies are designed for your business type, industry, and risk exposure. Every organization has unique challenges. Get an assessment to understand the types of coverage that will help protect your operations.

A commercial insurance broker can help you assess your coverage requirements. With knowledge of your vulnerabilities, you can choose the best small business insurance solution for your situation.

Here are some of the most common types of commercial policies you can get:

Commercial insurance broker savings tip

It's important to understand that some insurers factor in a soft credit check during the quoting process to ensure you get the most competitive commercial insurance rates. This standard industry practice allows them to assess risk and can sometimes lead to more affordable premiums for you, without affecting your credit rating. Speak with your broker to learn how this could benefit your business insurance.

Anne Parker

Commercial Insurance Broker (RIBO)

Speak with a commercial insurance expert today!

Monday-Friday: 8am-6pm
Saturday: 9am-5pm

What factors affect the cost of business insurance?

How much you pay for business insurance in Canada is based on a variety of factors. The bigger your company, the greater exposure you will have to larger financial losses. Here are the main factors that will affect your premiums:

Your business size: Bigger companies pay more for insurance. For example, a national grocery chain with locations across Canada would pay more than a local grocer with one location. The more assets you must protect, the more it will cost to insure them.
Your industry: Some industries are inherently more dangerous than others. Claims are more common, and the dollar value is greater. Industries with high chances of injury or financial loss will also bump up your premiums.
Type of policies: Many types of policies are available. The more you have, the more it will cost. Many companies start out with basic plans and add more over time as they grow.
Insurance limits: The limits you set for your plan will affect your payments. The higher the limits, the more you will pay.
Deductible: Like your limits, what you set it at will impact your premiums. Increasing your deductible will help you save. Whatever amount you choose, remember, this is what you will pay out of pocket if you file a claim.
Company annual revenue: The more money you bring in, the more it will be to insure you. There is more to protect.
Location: Where you operate directly impacts potential threats to you. The weather, crime rate, population, and other location-based factors influence your policy needs.
Number of employees: The more people you have, the more you need to protect. It also increases your liability exposure.
Your insurance history: Past insurance claims are an indicator of future action. If you’ve had multiple in the past, you are more likely to file a claim in the future.

How to get more affordable business insurance

Your business is unique, and so is your insurance policy. Finding a policy that addresses your specific needs and helps you save money is important. Here are the steps to help you get insurance that matches your requirements for a cheaper rate:

Assess your threats: You have risk exposure. Insurance can help protect against it. Consider the types of accidents or lawsuits that could affect your business. This will help you better understand your requirements.
Industry requirements: Some industries, professionals and provinces may require you to carry a certain amount of insurance to operate. Be clear about these requirements.
Use a commercial insurance broker : Find an advisor to help you search for proper coverage.
Compare quotes: Consider your policy options, coverage limits, and compare options from multiple insurers. Choose the best policy for your company.
Reassess every year: Since a lot can change, it's a good idea to reassess your coverage each year and compare it annually to ensure you are insured for the right amount.

What are the top threats to your business?

Understanding the biggest threats to your business is the first step to protecting it. Ensure you have the right insurance in place to mitigate these potential hazards. Some of the top dangers for businesses in Canada today include:

Business disruption

Every minute you are not open during normal business hours puts your company at risk. Lost revenue, lost customers, and incurring loss could hurt your company.

Climate change

Unpredictable weather has become the norm. You should have a business continuity plan. Take steps to prepare for weather events and natural disasters.

Cyber threats

It is important to address data breaches, identity theft, and e-commerce issues. Being compromised can shut down your business, result in legal issues, and take considerable time to recover.

These and other vulnerabilities all pose a threat to your business. We can help you mitigate these risks.

Commercial insurance solutions for all industries and professions

We offer insurance solutions from the leading business insurers in Canada. We will create a custom-tailored policy that is specific to your business, industry and profession. A ThinkInsure business insurance broker will ensure you are insured properly and find the lowest premium from our large network of partners.

Auto repair, garages

Construction and contractors

Commercial real estate

Farming

Home business

Hospitality services

IT, sales, marketing, and consultants

Manufacturing

Marine

Offices

Professional services

Retail

Transportation

Warehousing

Commercial insurance FAQs

Do I need business insurance if I work from home?

Yes, commercial insurance is generally necessary even if you have home insurance. While a personal policy might offer limited coverage for work-related personal items like a laptop, it often excludes home business equipment. Furthermore, home insurance won't typically cover income loss if there is damage or loss that prevents you from working.

Do commercial insurance broker help determine how much coverage my business needs?

There are many considerations when determining how much commercial insurance to get and it depends on your specific situation. Your risk tolerance as an owner, financial situation, your business type, and many other factors will help you determine the type of insurance and how much you should get. You want to avoid not having enough, but also ensure you don’t over-insure and spend money unnecessarily.

Our commercial insurance brokers will ask you pointed questions during the quote process to help you narrow down your coverage requirements.

Is business insurance required by law?

The short answer is no, in most cases. Most businesses can operate without insurance in Canada, but it doesn’t mean that you should. If you do, you’ll leave yourself open to financial vulnerability. Some types of businesses and industries may be required to carry insurance. For example, companies that use vehicles as part of their operations.

Some businesses require more protection than others. Ensure you know the mandatory insurance requirements in your industry and location. At a minimum, you should have liability insurance to protect against legal action. However, it is recommended to take out additional protection to have peace of mind in knowing you are covered should you experience a loss.

What is not covered by commercial insurance?

What needs to be covered largely depends on the types of protection you include in your plan. It is meant to protect you from incidents involving third parties such as customers, vendors, suppliers and the general public. Plans do not include :

Deliberate damage : You purposefully damage your business.
Intentional criminal acts : You engage in criminal activity resulting in a financial loss.
Cost estimate or guarantees : You seek to recover a loss because you have a cost estimate or guarantee.
Other perils specifically excluded in your policy : Policies will outline perils that are not covered.

How do you shop for business insurance online?

Shopping for insurance is quick and easy. Simply start the quotation process, enter the requested information and review your options. Shopping online allows you to identify types of coverage that may be ideal for your business type.

It can also help you find ways to save money on your policy. Then you’ll connect directly with one of your experts to help you choose the right plan.

Can a commercial insurance broker help me figure out what types of coverage I need?

Every business has its own challenges and commercial insurance needs. A licensed commercial insurance broker can help determine what protection you need and design a policy to meet your needs.

Can you run a business without insurance?

You can. But you have worked too hard to let your business suffer because you didn’t have insurance. Insurance protects you from common threats and unforeseen events. Commerce disruptions, climate change, injuries on your property, fire, theft, and cyber liabilities can all alter your future. They could hurt your business without the forms of protection in place.

Do I require a business license to get commercial insurance?

No. You can get it without a business license. However, you may be required to show proof of insurance to get a license in some professions. Speak with a business insurance broker or your industry governing body to get clarification.

Affordable business insurance solutions

More choice is better. Get coverage from a large selection of Canadian insurance companies. Find the business insurance you need at the best price.

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We partner with over 50 insurers. We’ll find personalized commercial insurance solutions designed to address your business situation.

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Customer satisfaction is our top priority. We strive to make insurance easy for you. We'll answer your questions and provide expert advice.

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Raghav Gupta

2025-08-11

I am pretty happy with their services. This my second year through them and I came across an agent Anuraag Jassal Web Customer Service Broker He is the best advisor I ever talked to in my last 7 years of experience. He reviewed my policies and helped me correct some errors which has decreased my premium to almost half. He helped me understand how to read our policy correctly and went over different clauses in detail while deciding on buying a new car etc. I wish there was a way to go and personally meet him as I am going through a rough patch and all the help he has given me in the last month on multiple matters is just amazing. He is actually doing his job and seems like he loves it. Thanks Anuraag Jassal.

Pina Battaglia

2025-08-06

Sohel was amazing. Made the initial process quick and seamless. Very knowledgeable, courteous and friendly.

Ma emma Bergonio

2025-08-05

Sohel is very helpful when it comes to finding the best rate and coverage.

Galit Moroz

2025-08-02

I highly recommend Todd as an insurance broker! He was incredibly helpful, always quick to respond to my questions, and ensured I found the best car insurance to fit my needs. His expertise made the process smooth and stress-free.

preeya mistry

2025-07-31

Had the pleasure of working with Dylan. He goes above and beyond. He is so non-judgmental and super helpful. I highly recommend requesting his help when inquiring.

Mason Khoury

2025-07-27

Dealt with Dylan S, who was able to secure me a phenomenal insurance quote within 48 hours of my renewal deadline (current policy was through ThinkInsure). This lad is amazing at what he does, no other way to put it! I have been dealing with ThinkInsure since I was a student in post secondary & they’ve always done their best to make sure I had an affordable policy. If you want an insurance broker who actually goes the “extra mile” & doesn’t simply brush you off as another sales lead, I’d look no further. They’ve got my business for the foreseeable future 🤘🏻

Zack Rowe

2025-07-20

Dylan was great and able to get me on the road

Tala Redrose

2025-07-17

I recently dealt with Sohel Rahman for my car insurance. I highly recommend him. I appreciated his professionalism and his patient. My situation was difficult but he was truly dedicated to finding me the fastest and best possible vehicle's coverage. Natalia

Get affordable commercial insurance today

Comparing commercial insurance solutions is the best way to explore your options and find a plan that fits your budget. Our commercial insurance brokers will help with both. We’ll help you identify threats to your business and build a plan to mitigate them. Get affordable rates from the top Canadian commercial insurance companies and save more.

Speak with us today. Call 1-855-550-5515 or request a quote online, and we’ll be happy to help you.

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Nolan Wilson

Content Marketing Manager

Nolan is a content marketing manager and writer at ThinkInsure. He has 15+ years of experience in the insurance industry, working with brokerages and direct insurers to create compelling insurance content, specializing in auto, home, and commercial.

Commercial Insurance

Our commercial insurance brokers will make sure your business is protected and find you the most affordable coverage from the top providers.