Business insurance in Edmonton Alberta

7 Types of Insurance Every Small Business Should Have

Even a small business has a lot of important assets that need protecting, such as inventory, office space, vehicles, equipment, and key people involved in the business. Merit Insurance Services Ltd is an insurance brokerage that can help reduce your risk with comprehensive small business insurance in Edmonton. Though specific insurance needs can vary from business to business, we've put together a list of seven types of insurance that just about every small business will need.


Liability insurance 


Liability insurance is one of the most important types of small business insurance in Edmonton. It protects you from lawsuits in the case of mistakes and accidents that cause injury or damage to your customers, employees, or anyone involved with your business. Some of the most common types of liability insurance are general liability, product liability, professional liability, and cyber liability.

Vehicle insurance

Vehicles used for commercial purposes should be covered by a commercial vehicle insurance policy. Like personal auto insurance, commercial vehicle insurance in Edmonton will cover you in the event of property damage or injury caused by your business vehicle's operation.

Property insurance

Any property or buildings owned by your business need to be protected by property insurance. A business property insurance policy will cover the cost of your losses in the event of damage or destruction due to specific listed perils, such as fire or flooding.

Business interruption insurance

If a fire, flood, or other peril causes you to have to shut down your business for a period of time, then having business interruption insurance will protect you from any resulting losses in revenue.

Credit insurance

Credit insurance, also known as accounts receivable insurance, protects you in the event that a customer does not pay or becomes insolvent. It will cover the costs of goods sold and allow you to pay your suppliers and employees.

Workers' compensation insurance

If you are a sole proprietor, you won't need to worry about covering any workers. However, as soon as your business has its first employee, you need to get worker's compensation insurance in case an employee sustains injury as a result of their work.

Key person insurance

A small business that has grown to rely heavily on certain people or employees can protect itself in the case of a loss of such a person with key person insurance. This coverage can give your business a buffer to recover from the loss.

Protect Yourself with Reliable Small Business Insurance in Edmonton

At Merit Insurance Services Ltd, we have been providing smart and affordable insurance solutions to a wide variety of clients since 1985. Our insurance professionals can get you set up with all the types of business insurance and vehicle insurance in Edmonton that you need. Enjoy peace of mind, financial protection, and savings with an insurance policy that is tailored to your unique small business.

To start protecting your small business with the right insurance plan, contact the team at Merit Insurance Services Ltd today.