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Business insurance

Business Insurance: Protecting your SME

May 12, 2023

You devote a lot of time and energy to your business, so it's essential to have the right protection.  Having business insurance gives you more than just peace of mind. It lets you focus on what you do best: managing, growing and maintaining a successful business.

What is business insurance?

No business is immune to accidents or losses that occur in the normal course of commercial activities. Commercial property and casualty insurance can protect your business against these risks.

"Businesses come in all shapes and sizes, and the same is true for commercial property and commercial vehicle insurance. Property and casualty insurance helps reduce the financial risks that are directly related to your business activities. If something goes wrong, having the right coverage will make a big difference. It could even save your business!" explains Amélie Belec, Manager, Sales and Business Development at Desjardins Business Insurance.

5 reasons to take out business insurance

1. Protect your commercial property and business income against

Property and liability insurance helps you protect your property in the event of a loss (fire, water damage or vandalism). This insurance covers your building and its contents. In the event of water damage, you may also be able to move your commercial activities to another location until a cleanup company is able to clean your workspace. Business insurance can also cover the loss of business that results from an insured loss.

2. Protect against the accidental breakdown of your equipment

Coverage can also apply to the accidental breakdown of mechanical, electrical, electronic or computer equipment. This includes the accidental breakdown of equipment following a power outage as well as a surge when power is restored that causes the air conditioning unit's electrical panel to break. This coverage provides temporary repairs to the damaged property.

3. Protect against property damage or bodily injury to a third party

Liability insurance covers bodily injury and property damage caused to a third party, personal injury, advertising injury, medical expenses, and rental liability. Are you protected against legal action? For example, you forget to clear the snow from the outside stairs of your business after a snowstorm. A client slips and falls on the ground, leading to their injury. The client then sues you. Liability insurance covers your financial losses and the costs you incur to defend yourself against bodily injury to a third party. What's more, Desjardins Insurance offers free legal assistance with your business insurance. In the event of litigation, you can consult a lawyer or notary for advice on how to prevent or settle a dispute with a client, service provider or employee.

4. Protect against damage to your commercial vehicle in the event of an accident

Are your commercial vehicles the life blood of your business? Choosing the right coverage will give you peace of mind while you're on the road and protect you from collision, theft, vandalism and any other accidents. "As an insurance provider, we help you every step of the way, from start to finish, by covering expenses such as vehicle rental fees so that you can continue doing business," says Amélie Belec.

5. Mitigate your financial losses in the event of a cyber attack

Despite all the precautions you take, your business could be the target of fraudulent activity. It's therefore exposed to information security risks, also called cyber risks. Phishing emails, viruses and malware are just some of the ways criminals can access information about you or your clients. More and more businesses have taken out cyber risk insurance.

" It's in their best interests to be well insured, especially against cyber attack. Take the work of a notary or accountant. A security breach could have a disastrous effect, while having the right coverage limits the impact on their clients. The insurance will help support the business every step of the way, for example, by reducing damage and reimbursing a portion of legal and IT system fees," says Amélie Belec.

How to choose the right business insurance coverage

A loss can have a major impact on your company's financial health. Choosing the right property and casualty insurance is an important decision for any entrepreneur. 

Included coverage

  • Commercial property (building and contents)
  • Equipment breakdown
  • Loss of business income
  • Dishonesty, disappearance and destruction
  • Commercial liability

Optional coverage

  • Data compromise
  • Cyber attack
  • Earthquake
  • Flood
  • Sewer back-up

Mandatory coverage

  • Civil liability

Basic coverage

  • Collision and upset
  • All perils other than collision or upset (theft, fire, vandalism)

Optional coverage

  • Replacement cost
  • Travel costs
  • Damage caused to a borrowed or rented vehicle

Get the insurance that takes your business to heart

All businesses have different needs based on the type of activity and associated risks. That's why there are many types of coverage. Feel free to contact one of our business insurance advisors, a Desjardins damage insurance agent if you need help choosing the right coverage. Protect your business's long-term success with appropriate coverage for your activities.


Desjardins Insurance refers to Desjardins General Insurance Inc., provider of home, auto and business insurance products. These tips are provided for information and prevention purposes only. They are general in nature, and Desjardins Insurance cannot be held liable for them. We recommend using caution and consulting an expert for comprehensive, tailored advice.