Written by
Nolan Wilson
Updated on September 11, 2025
min read
Affordable small business liability insurance in Ontario
All small businesses in Ontario should have liability insurance. Protecting your small business with liability insurance is an essential step to reduce risk. Your business means a lot to you. And it should. You’ve invested time, money and personal resources. Make sure it's protected with a small business insurance policy designed specifically for your needs.
As small business insurance experts, we are risk assessment specialists. We know that many small businesses in Ontario operate on tight budgets, are concerned about financial security, and want protection from risk and loss.
We’ll analyze your business insurance needs and evaluate your risk exposure. Then, we’ll give you advice on coverage and ways to save. We will compare business liability insurance quotes from the top insurers to find you the best and most affordable coverage.
What you need to know about liability insurance for Ontario small businesses
All businesses have risk exposure. Business liability insurance helps to mitigate risk and prevent loss.
Basic liability insurance plans start at around $500 annually and go up from there. Expect to pay between $500 and $5,000 annually.
Business liability insurance is not legally requiredin Ontario, but it is highly recommended.
Business insurance costs depend on your company type, size, industry, operations and other factors. Get a quote for an accurate premium estimate.
Our small business insurance advisors make finding your company's best policy and rates easy.
Please have the following information to get an accurate rate:
Information about your small business.
Any past policy details.
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We will compare rates from the leading insurance companies.
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What does a small business insurance policy cover?
Small business policies are customizable. They can include protection against various risks and liabilities based on your company size, industry, and other considerations. Basic policies generally include coverage for liability, commercial property, and business interruption. You can work with your business insurance advisor to personalize your policy and add coverage that meets your company's unique requirements. Your policy can include as much or as little as you need.
What are the types of small business insurance coverage?
We have many different types of coverage, such as:
How much does small business insurance cost in Ontario?
Average small business insurance costs can range greatly. You could pay hundreds or thousands of dollars on a policy. It all comes down to your needs and coverage preferences. So, there isn’t a specific number that can be applied to your business. Basic liability insurance plans start at around $500 per year and go up from there. Expect to pay between $500 and $5,000 annually. As your business grows, so do your costs to insure it.
Every Ontario small business is unique and has different insurance needs. How much you pay depends on your industry, perils, insurance history, requirements, and many other considerations.
Business insurance costs should be calculated on a case-by-case basis. This is where our business insurance advisors can help. We’ll work with you to understand your needs and create a coverage package specific to your business. So, let’s chat!
Small business insurance savings advice
A smart way to manage your small business insurance expenses is to explore business insurance packages. Insurance companies frequently create these packages to include a range of coverages commonly needed by businesses in a particular sector. Opting for a well-suited package can often be more cost-effective than selecting each coverage individually. Reach out to your broker to learn more about how business insurance packages can potentially save your small business money.
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Commercial Insurance Broker (RIBO)
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Monday-Friday: 8am-6pm Saturday: 9am-5pm
What are the top factors affecting small business insurance premiums in Ontario?
Insurance providers use a long list of factors to assess your premiums. Each of the factors below could increase or decrease your costs:
Business type: Your industry and the products and services you offer.
Company size: The number of locations and the number of employees.
Experience and credentials: The number of years in business, specialized training and certifications.
Contents and equipment: Property, supplies, tools, equipment.
Risk profile: How inherently risky are your operations?
Financials: Your annual revenue and profit projections.
Location: City, locations, neighbourhoods.
Coverage types: The type of coverage you include in your policy.
Policy limits: How high you set your limits.
Deductibles: Your deductible amount. Higher deductibles reduce premiums.
Claims history: The number of claims on your record indicates future claims.
Liability insurance for all types of Ontario small businesses in all industries
ThinkInsure serves a wide range of Ontario small businesses, from retail to manufacturing to consulting, and more. We offer flexible coverage and business liability insurance solutions to meet your needs and budget.
With an extensive network of business insurance partners, we’ll advise you on coverage that will safeguard your business from operating risks and unexpected events, at rates you’ll love.
We have solutions for :
Retailers and storefronts: Local coffee shops, boutiques, clothing stores, salons, grocery stores, online stores, hospitality, warehousing.
Professional services: Consultants, IT professionals, photographers, marketers, graphic designers, office professionals, real estate, manufacturing.
Construction and contractors: Home renovators, carpenters, electricians, plumbers, painters, landscapers, cleaners.
Health and wellness: Dentists, massage therapists, chiropractors, wellness facilities.
Get liability insurance from Ontario's top business insurers
Are you starting a business? Is it time to renew your current policy? Want to compare your options for small business insurance in Ontario? We can compare rates and coverage from Canada’s leading business insurance companies. We have access to coverage for all business types across most industries. Whether you are looking for a simple policy or a complex plan to reduce financial loss with insurance, we have you covered.
We are always ready to help you find the best rates and solutions. Speak with a ThinkInsure advisor today. Call 1-855-550-5515 or request a quote online, and we’ll be happy to help.
What are the best tips to save on small business insurance?
Price is only one of the many factors you should consider when comparing business liability insurance quotes. Here are some tips to get the cheapest Ontario small business insurance:
Combine all policies into one: Many types of small business insurance exist. Bundling them into a single policy simplifies things and will qualify you for a discount with your insurance company.
Understand your insurance needs: Small businesses have different insurance needs. Understand threats, liabilities, risks, and coverage needs.
Manage business risks: While risks exist, being proactive in limiting these risks can help you qualify for insurance savings. Plus, you’ll have peace of mind in knowing you run a safe and low-risk business.
Compare quotes: You have options. Always compare multiple insurance providers to understand your coverage options and to find the most affordable price.
Business insurance for start-ups and micro businesses in Ontario
The definition of a small business has changed significantly. Today, a small business can mean any number of business types, sizes, and structures.
With start-ups and micro businesses on the rise, there have never been more varieties of small businesses, including online businesses, sole proprietors, local businesses, freelance professionals, and more. Many of these businesses operate from a residential location.
Operating a small business from home is more common than ever. However, when it comes to protection and coverage, your home insurance policy just won’t cut it. We offer insurance for all small businesses that operate out of their primary residence.
Why choose ThinkInsure for business insurance in Ontario?
For over 50 years, we’ve worked with all types of Ontario small businesses. We’ve helped thousands of owners find and save on the best business insurance for their needs.
When you get your business liability insurance with ThinkInsure you’ll get :
Expert savings advice
Getting advice from our business insurance experts can help you save on premiums and, more importantly, protect your business against uncertainties such as accidents, damages or legal action.
Flexible small business solutions
We’ll create flexible insurance solutions tailored to your specific insurance requirements.
Convenient one-stop shopping
We work with over 50 insurance companies. We will shop and compare your coverage needs to get you the best small business insurance policy and price.
Personalized customer service
We understand that you are very busy running your small business. Your dedicated business insurance expert will be there to take care of all your insurance matters promptly and professionally.
See our 5 star insurance reviews
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I am pretty happy with their services. This my second year through them and I came across an agent Anuraag Jassal
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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
Ontario small business insurance FAQs
Although it's not legally required, business liability insurance is highly recommended. It is standard in most policies and provides protection from claims against your business, such as personal injury, damage, and legal defence costs.
Even if you are not a big operation, it doesn’t lower your risk of someone getting injured on your property or having legal action taken against you. So, liability insurance should not be overlooked.
Every business has risk exposure. While the type of threats will vary by your business type, industry, location, and other factors, there are still inherent risks to running a business. Insurance mitigates financial loss from theft, lawsuits, cyber attacks, or physical damage to your property.
Does your small business have proper insurance coverage? Could it survive disruption from floods or other damages? Do you have protection from offering advice that damages another business? Is your business protected if someone is injured in an accident that is related to your business? Are you protected against liability claims?
In addition to reducing risk and protecting your business, there are other situations where you may require coverage:
Proof of insurance: Potential customers may request to see proof of insurance before doing business with you.
Events: Insurance may be required to host an event.
Property rental: You may need to be insured to rent a property.
Loans and banking: You may need proof of coverage to secure business loans and complete other financial transactions.
And much more
ThinkInsure can help you choose the right type and amount of liability insurance for your business. Based on industry standards and other factors, we’ll ensure you have enough coverage and find you.
Operating a business without insurance is a significant risk. One loss event could force your business to close if you don’t have small business insurance. It's recommended that you have liability coverage at a minimum. Then, you can add other coverage based on your business type and industry.
The best type of coverage is a policy that meets your specific operational needs. The type of insurance you will need depends on your business type, industry, size, revenue, products and services, and many other factors. Most small businesses have liability protection and coverage for their location and vehicles.
Yes, absolutely. Getting a small business insurance quote with ThinkInsure is 100% free. Your business does not have to pay to request a quote.
It depends on your type of business. If you offer services to customers, consider having professional liability coverage at a minimum.
Yes. In Ontario, there is a tax on business insurance premiums. However, you do not pay HST; you pay 8% PST.
Get a free small business liability insurance quote
Compare small business insurance quotes in Ontario from the leading insurers in Canada. Make sure your business is properly insured for common liabilities and threats.
At ThinkInsure, our advisors will find the best plans and search for the most affordable rates. We'll help you save without sacrificing coverage.
Speak with us today. Call 1-855-550-5515 or request a quote online and we’ll be happy to help you.
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.
