Small Business Insurance – How an Insurance Broker Can Help

Small business insurance in Alberta is a must for all sizes of companies. The type and amounts differ and change as a business grows. So, what’s the best way to get small business insurance? There are several ways. For example, you can get insurance directly from an insurance company, or you can use a broker. In this post we’re going to show you how a small business insurance broker can help your small business.

Group Health Insurance and Group Life Insurance

Just like your business vehicle(s) need insurance coverage in case of an accident to cover injury and loss; small business insurance in Alberta protects management and team players in the event of injury or loss.

Group benefits is a small business insurance in Alberta that keeps the entire team healthy, happy and productive. Group health and dental that provides preventative care is accessed when needed to ensure that more serious illnesses can be diagnosed in the early stages.

For example, gum disease can be diagnosed and treated before more drastic and expensive measures are required. The earlier any illness or problem is detected, the easier it is to treat. Small business insurance in Alberta offers this protection.

The same is true with group life insurance. Employees feel valued when they’re appreciated for the work they do. Employees place a high value on health benefits. Along with this type of small business insurance in Alberta, letting your staff know that you’re grateful for their hard work by telling them or giving them bonuses is a great way to keep staff.

A broker specializing in small business insurance in Alberta can help your small business by working with you to find the best policy for your company. They can help you figure out what services you should offer your employees, and help you create a benefit plan with the insurance carrier that offers what you need at an affordable price.

Management and Small Business Insurance in Alberta

Group medical is beneficial for everyone who works for your small business, but there are other types of life insurance coverage that protect management and key staff. If you lose critical personnel, your company runs the risk of going out of business due to lack of a key person; or financial difficulties finding a suitable replacement.

Another option with small business insurance in Alberta is a Health Spending Account (HSA). This insurance is perfect for small businesses on a budget. Simply put, it’s an account you put money in tax free, which you can take out tax free for medical purposes. A small business insurance broker can let you know if you qualify; and show you how set up your HSA.

Small Business Insurance in Alberta – Buy/Sell Agreement and Key Person Insurance

These insurance policies can be purchased in the event a key person, business partner, or shareholder are seriously injured or pass away. They’re used differently depending on how your small business is structured.  A small business insurance broker can help you decide which type of policy and/or agreement is beneficial for your business.

Small Business Insurance in Alberta – Business Interruption

This insurance covers revenue lost when your business is interrupted by a catastrophe. It covers several things such as fire. For example, if your warehouse burned down you would lose money. Business interruption insurance will help you recover your losses. After the disaster or while your building is getting repaired.

Small Business Insurance in Alberta – Working with a Small Business Insurance Broker

When it comes to purchasing business insurance in Alberta the process is not black and white. Unless you’re experienced with all kinds of business insurance and what they cover, it’s a good idea to get help from a small business insurance expert.

For more information about small business insurance in Alberta or to discuss your businesses needs you can speak with an experienced insurance broker.  The consultation is free and can help you discover what products best suit your company.

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