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Liability Products

commercial general liability (cgl)

We consider Commercial General Liability (CGL) coverage a necessary cost of doing business in today’s economic climate.  CGL earns its choice reputation by protecting your business and business operations in the event that you are sued – and a lawsuit can come from a variety of places. 

If a customer is injured in your store, or an employee damages property on a project site, a manufactured product malfunctions, or someone is injured as a result of using one of your products, a potential lawsuit could not only bankrupt your business but devastate your personal finances as well.   For this reason alone, this is our most popular business insurance product we sell.

Commercial General Liability is the backbone of all insurance policies. The vast majority of all insurance packages that we have listed below are built around the CGL. We recommend a minimum CGL limit of $2,000,000, however $5,000,000 limits are available for a minimal cost increase - and it's always prudent to consider a higher limit of coverage.

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dIRECTORS' AND OFFICERS' LIABILITY

Directors and Officers of both for profit and non-profit organizations (and even those on a volunteer board) have a fiduciary duty to oversee the activities of the organization they serve. 

Large financial losses, employee discrimination, and wrongful dismissal claims are ultimately a Board Member’s responsibility - but so is each and every decision the Board as a whole should make. Directors and Officers of an organization can be held accountable, even if they did not know of or were actively involved in the issue. This is a hot-button fact, and one that discourages many civic-minded volunteers to think twice before taking over a seat on a Board of Directors.

Because ignorance is not a defense, we strongly recommend that all of our organizations protect their members with a Director’s and Officer’s Policy, especially when many Board members often offer their time for free.

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Employment Practices Liability

Employment Practices Liability is a policy very similar in nature to Director’s and Officers Liability, but is intended for normal profit businesses without a Board of Directors. This coverage is suitable for (and applicable to) almost all small businesses in Canada, protecting against issues arising from wrongful employment practices. These could include wrongful dismissal allegations, constructive wrongful dismissals, or harassment of any kind.

Reeds Insurance strongly recommends that all businesses regardless of size explore employment practices liability insurance and incorporate it into their insurance plan.

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Errors & omissions

An Errors & Omissions (E&O) policy is also known as Professional Liability Insurance – protecting business professionals who offer specialized consulting or product design advice to their clients. 

In most businesses, a Commercial Liability policy will protect against property damage or bodily injury to your customers.  If you are in a line of work where your advice is the commodity (such as a realtor, insurance broker, architect, accountant or financial planner) or if you are designing a product sold to your client (such as website development, computer programming, or the design/development or a sepcific part for a manufacturing client), you would turn to an E&O policy in case you or your employees ever made an error.  Because these professions are held to a higher professional standard of accountability, this coverage protects (and defends) the business and employee in case of error or negligence.

If there’s a chance that an error on your part could result in a financial loss for a client, then you are likely a candidate and should speak to us about E&O Insurance.  If you are in doubt of whether this policy is required for your particular business, ask one of our Commercial Specialists to assess your needs.

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commercial lines

At Reeds Insurance, we understand that every business is different and every business owner operates under a different set of defining principles. Sitting down with one of our Commercial Specialists and reviewing your business operations will give you a good idea of how to budget for what’s most important.

We are not only willing to meet with you at your place of business, but we prefer it. We can’t properly protect you, your employees, and the business you’ve built until we understand your operations. Call today to schedule an appointment; we look forward to learning more about you!

wholesalers, distributors and warehouse insurance

As a wholesaler or distributor, you are in the unique (and sometimes stressful) position of needing to deliver a variety of products to a number of different customers.  This can result in some vast and varied insurance needs. A  Wholesalers package provides comprehensive coverage for your buildings, business operations, stock and equipment. Perhaps most importantly, it also provides coverage for your product while in transit between your location and your client’s.

Whether you are a small local supply business or a large multi-national distributor, our wide range of reputable insurance providers can offer coverage to suit the size and scope of your business.  Call one of our Commercial Specialists today to find out why the wholesalers and distributors in our area stick with Reeds Insurance.

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contractors insurance

If you are a general contractor who bids on (and manages) projects or a specialized skilled trade contractor, securing Contractors Insurance is a vital part of your business.

Contractors working on new construction, renovation, repair or landscaping projects (both residential and commercial) have different and unique insurance requirements than most other businesses, as their risks are widespread and varied.  In addition to the enormous liability exposure on a building site, contractors need to protect themselves, their employees, their tools, machinery and equipment, vehicles, the customer’s jobsite, and of course, the project itself. 

Reeds Insurance specializes not only in the general insurance requirements of Contractors but our bonding facilities enable contractors of all sizes and in all fields to expand their opportunities to bid.

Additionally, we guarantee 24-hour turn around time on all Certificate of Insurance Requests and, for those Contractors dealing with sub-contractors, we offer Certificate of Insurance control services which will ensure that all of your sub-trades are fully insured – and have the limits of coverage that you feel comfortable with.

Call us to discuss this unique service and the free benefits to your business. You will soon understand why so many contractors stick with Reeds Insurance.

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Retail insurance

In the world of retail, your stock is everything. If you own a grocery store, for example, you need to make sure that if your refrigeration equipment breaks down your spoiled stock is covered. You also need to be sure that if you are forced to shut down due to a loss, your revenues are protected. Open for business or not, you still need to pay your suppliers and, perhaps more importantly, your staff and yourself!

Retailers Insurance is unique in that it identifies the areas in which retailers are most at risk and speaks to them directly.  Insurance for property damage not only insures that the building, your stock and your equipment, but also protects a specialty item such as signage, display glass, and computer equipment. It even covers the additional costs of getting your business up and running as quickly as possible after a loss. Our retail package also takes into account that stock volumes and value fluctuate based on your "busy seasons", and coverage is automatically increased accordingly during those times.

Our Retail Store Insurance packages are one of the broadest in the market place today. This is just one of the many reasons why our customers stick around!

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Office insurance

Owning or managing an office is a huge undertaking. Our custom Office Insurance policies will relieve the worries that you may have about the building (regardless if you own or rent) and your office contents. Our office package extends beyond the typical "bricks and mortar" type insurance to include accounts receivables, professional fees, and even forgery to name just a few. We also include equipment breakdown coverage to protect your computer servers or telephone systems.

A comprehensive package can be tailored to meet the needs of almost any office. For example, a doctor or dentist’s office will require Medical Equipment Coverage whereas a lawyer’s office will certainly want Valuable Papers Coverage.  Call or stop into our office to introduce yourself and your business.  We look forward to making sure you’re covered, whatever your particular needs may be.

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building / landlord insurance

Owning a rental property is a huge undertaking and a major investment of both time and financial resources.  While the best way to protect your investment is to be hands-on and physically present, a solid Building Insurance program will protect you against the events that you cannot control. The following items are typically covered in a Landlord policy and are worth considering:

  • Commercial General Liability - including physical injury (falls) AND lawsuits brought against you as a results of negligence or accuse negligence on your part or the part of an employee
  • Building Insurance - including the additional cost to bring your building up to current building codes after a loss, as a result of new by-laws.
  • Contents Insurance - protecting your contents, such as supplied appliances and furniture, or community laundry or exercise rooms.
  • Loss of Rent – covers your rental income if your building is not being occupied as a result of an insured loss.

Now that we’ve succeeded in deglamourizing the role of Landlord, we are here to offer tips and tricks to make it a financially (and personally) rewarding venture.  If we can suggest Rule #1 – INSIST that your tenants have insurance and name you as an additional insurer - call us to find out why!

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home-based businesses

Many homeowners mistakenly assume that their home insurance will also cover their home-based business activities.  This is absolutely untrue and can actually void your home insurance?  If you don’t declare your business intentions and you have a claim, your insurer may have the right to declare the policy null and void based on misrepresentation (even without the malicious intent that "misrepresentation" implies).

So, if you want to run a business out of your home, what do you do?  Call Reeds Insurance.  We have custom insurance packages available to protect your business and its operations while at the same time ensuring that your personal homeowners’ policy is not jeopardized. Home-based business packages are very reasonable and cost significantly less than "a coffee a day".

It certainly pays to speak with one of our seasoned brokers who have countless stories to tell about those who approached a home-based business the right way…..and those who didn’t.

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custom packages

If you can ask the question: “Is my _____ covered?” then we can probably find a policy to cover it.  Custom Packages are just that - tailored for you and/or your business or farm.  We love a challenge at Reeds Insurance, so ask the question and we’ll see what we can do.

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Fleets and trucking

If you own five or more commercial vehicles, then Fleet Insurance is usually a less-expensive way to insure them. In addition to the financial benefits of this coverage, Reeds Insurance offers our exclusive "Driver Review Service."

The Driver Review Service is a prudent way to ensure that your drivers are safe. By reviewing a Driver Abstract for each of your employees, we can reveal any and all convictions. Not only are good drivers less likely to have an accident but additionally, problem drivers can be identified before their actions have a negative impact on your insurance premiums and the business itself.

Many companies, as part of their normal business practices, elect to complete this task on their own. The truth is that it’s often forgotten, or not followed up, as the responsibility is typically on the driver to obtain his/her own Driver’s Abstract. At Reeds Insurance, we ensure that all Driver Abstracts are obtained without any “chasing” on your behalf. It’s just one less thing to worry about – and one more reason why so many businesses stick with Reeds.

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bonding insurance

Bonding is a simple concept that often tends to be misunderstood. In its simplest terms, a bond is a financial guarantee to another party. It may be a guarantee on the price of completing a project, a guarantee on the workmanship of the project, or even a guarantee that no money or belongings will be taken while on premises.

Bonding, however, works quite unlike a normal insurance policy. With a standard insurance policy, you pay your insurance premium and if a loss occurs (a fire, for example) then the insurance company will rebuild the building or replace the contents, but will not request repayment from you. With a bond, however, if you default on the guarantee, then the bond company will pay the third party for their damages (as would a normal insurance policy) but then recuperate the damages directly from you.

Bonding is quite difficult to obtain as it requires the business and it’s owners to be in a very strong financial position. At the same time, it sets a business apart from it’s competition as there is more credibility given to a company’s name when it is bonded. Bonding also permits a business to target a different class of customers and projects, such as municipal contracts and larger corporate clients that demand bonded bids.

As beneficial as bonding can be, it is not the only way to meet the financial guarantees that some contracts require. Call us and speak with one of our Commercial Lines Specialists to learn more about alternatives and see if bonding is right for your business.

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environmental insurance

Unless you run an oil company, nuclear facility or gas station, you probably never gave much thought to Environmental Insurance or the liabilities associated with pollution and environmental hazards.  May we recommend that you consider Environmental Coverage if you are involved in any of the following businesses:

  • Manufacturing and Processing
  • Healthcare
  • Municipalities
  • Agribusinesses
  • General Contracting
  • Recycling/Disposal Facilities

Unique to Reeds Insurance is the inclusion of a Limited Pollution form that we include on all of our Farm Policies. This is an extremely important benefit of our Farm Packages that protects you from this increasing liability hazard.

If you think your business might be a candidate for Environmental Insurance, ask one of our brokers for more information. The more you know about your liability exposure, the sooner you can take steps to limit your risk.

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garage & repair facilities

If your business is in the automotive sector, then you require additional liability coverage for not only your premises, contents and operations, but also for additional liability exposure you assume while your customer's vehicles are in your care, custody and control. If you accept vehicles from others (for repair, storage, sale or even parking), then you are in need of a very specific policy to safeguard you and your business.

Reeds Insurance specializes in Garage Insurance Policies and have developed unique packages to address these concerns. Call us to learn more about these products and find out why our customers stick around.

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farm

If you own a farm in the Kawarthas, you know that this area is unrivaled for its beauty and (when it’s a good year) its bounty.  Whether you ranch or crop, the joys and hardships of farming are universial
 
Our Farm Specialist, Brian Gorrill, has made a living from the farm his entire life.  When he wasn’t working his land and dealing with his own heard, he was protecting neighboring properties with solid insurance policies. 
 
The Farming industry has changed and has become very commercialized in recent years, forcing our approach to insurance to change along with it.  Your farm is a business and needs to be protected as such.  In addition to your farming operations, you may be supplementing your income with non-agricultural-related businesses based on the farm, such as auto repair shops, woodworking, or manufacturing.  The majority of farm insurers will not write this kind of business and, if you are engaging in these activities, you may very well be jeopardizing your insurance policy.
 
Disclosing ALL of the activities that take place on your farm - including offerings such as riding centres, horse boarding, riding lessons etc. – can protect you from liability exposures and gaps in your insurance. 
 
Most insurance brokers have only limited options to insure Farms. At Reeds Insurance, many of us work and live on farms and, as a result, we know the unique nuances of this lifestyle. We can offer custom tailored policies that include business interruption coverage, pollution insurance, and even cover the newest technologies such as solar arrays.
 
Call Brian Gorrill, our Farm Specialist today to learn about the farm policy that's right for you.

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