Business Insurance
Insurance For New Businesses
At MyBrokers, we insure new businesses across all types of industries daily. With over 24 years of insurance experience, whether you're a new start up, retail business, construction company, restaurant, accountant, renewable energy company, etc, we're partners with over 120 insurance providers that can offer you all the best coverages needed to protect your new business.
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Who we cover
If you've incorporated in the last 24 months, or you're about to, this is for you.
- Recently incorporated companies (sole prop, partnership, corp)
- First-time business owners
- Side-business owners moving full-time
- Franchisees opening their first location
- Founders raising or pre-raise
- Spinoffs and recently divested business units
What's typically included
Most new businesses start with a packaged policy, general liability + property + crime + cyber, at minimum-premium pricing. We layer on industry-specific coverage as you grow.
- Commercial general liability (most common: $2M)
- Contents and equipment at your premises
- Cyber liability (basic tier)
- Crime: employee theft and forgery
- Tenant's legal liability (if leasing)
- Errors & omissions for service businesses
This is an overview. All coverages, limits, and exclusions can only be confirmed by a licensed MyBrokers broker on a quote tailored to your specific policy.
What moves the premium
For new businesses, the biggest factor is the industry you're in. The rest, revenue, employees, location, matters less in year one because there isn't enough history yet.
- Industry / SIC code
- Owner's experience in the industry
- Projected first-year revenue
- Whether you're hiring employees in year one
- Required limits in customer or landlord contracts
- Province of operation
Ready for a quote on insurance for new businesses? Talk to a real broker who specializes in it.
Frequently Asked Questions
Who needs Business Insurance?
Any new business with employees, clients, contracts, leased premises, or product/service liability exposure should carry insurance. The list of clients we cover for new business insurance includes:
- Newly Incorporated Companies (sole prop, partnership, corp)
- First-Time Business Owners
- Side-Business Owners Going Full-Time
- Franchisees & Multi-Location Owners
- Founders Raising or Pre-Raise
- Recently Spun-Off Business Units
How much does New Business Insurance Cost?
New business insurance is usually written at minimum-premium pricing in the first year, since there isn't enough history yet. Cost factors include:
- Industry type
- Number of employees
- Product or Services being provided
- Years of Experience
- Projected Revenues
What does Business Insurance cover?
New business policies bundle a core set of coverages that protect the business from the most common first-year claims. Coverage usually includes:
- Commercial General Liability Insurance
- Professional Liability Insurance
- Product Liability Insurance
- Cyber Liability Insurance
This is an overview. All coverages, limits, and exclusions can only be confirmed by a licensed MyBrokers broker on a quote tailored to your specific policy.
Still have questions? We'll quote it, explain it, and let you decide.
Professions and industries we cover
- Accountants
- Accounting Firm
- Architects
- Actuaries
- Advertising Agencies
- Photographers / Videographers (ariel & ground based)
- Alternative Energy Companies
- Architects & Engineers
- Appraisers
- Beauty Practitioners
- Bookkeepers
- Broadcasters
- Building Designers
- Business Consultants
- Contractors
- Construction Companies
- Chiropodists
- Civil engineers
- Collection Agencies
- Consultants
- Chiropractors
- Drop Shipping Companies
- Design Firms
- Directors and Officers
- Ecommerce Brands
- Employment Agencies/Recruiters
- Estheticians
- Engineers
- Environmental Engineers
- Energy Audits & Assessments
- Fitness Gyms & Consultants
- Financial Advisors
- Financial Planners
- Foreign Legal Consultants
- Holistic Professional
- Hotel Consultant
- Home Inspectors
- Human Resources (HR) Consultant
- Immigration Consultants
- Information Technology & Computer Consultants
- Interior Designers
- IT Contractor
- IT Specialist/Technician/Programmer
- Independent Contractor
- Product Designers
- Professionals Liability
- Lawyer's Excess Professional Liability
- Massage Therapists
- Marketing Agencies
- Management Consultants
- Medical Related
- Medical Professionals
- Medical Students
- Multimedia designers
- Mortgage Brokers
- Non Profits
- Occupational Health and Safety Consultants
- Quality Control Consultants
- Placement Agencies
- Podiatrists
- Process Servers
- Private Investigators
- Project Managers
- Property Managers
- Paralegals
- Publishers and Printers
- Restaurant Owners
- Retail Businesses
- Recruitment and Employment Agencies
- Recruitment Consultants
- Safety Engineers
- Service Organizations
- Solar & Wind Farm Engineers & Consultants
- Staffing Agencies
- Structural Engineers
- Sub Contractors
- Surveyors
- Trucking Companies
- Therapists
- Training Providers/Trainers
- Travel Agencies
- Travel Agents & Tour operators
- Website Designers
- Website Developers
- Workplace Engineers & Consultants
Other Insurance We Offer
We're partners with over 120 Canadian insurance providers and cover the full range of personal and commercial insurance. If you need it, we likely write it.
Business Insurance
Ready for a quote on insurance for new businesses?
Talk to a broker who actually knows this space. We'll quote it, explain it, and let you decide.
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