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Commercial Insurance

Whether you operate a small office or a large construction company, Porter and McMillan Insurance has an insurance package designed for you.

We are able to provide coverage for buildings, contents, equipment, crime, loss of income and general liability which will provide coverage for the exposures you face at a very competitive price. As an independent broker we search the market to negotiate the best coverage at the best price to help you manage your risk and build your business to maximize your profitability.

Commercial Insurance protects your business assets. While there are many types of coverage, they are all designed to protect your assets in three primary ways. These are:

From loss due to direct physical loss to buildings, contents or other physical assets.
From loss of cash flow and profits due to an inability to operate after an insured loss.
From claims arising from actual or alleged negligence by third parties who have suffered damage or injury.

Office/Retail

There are many insurance packages designed to protect you against just about every type of threat to your business. Our policy provides coverage for the property you possess including your buildings (including garages and storage units), stock, equipment and tenant’s improvements along with many extensions.

Coverage also extends to your business contents including furniture, fixtures and equipment. Buildings and contents are covered on an All Risks Replacement cost basis.

It also protects you from the loss of income that you could experience if you suffered an insured loss and were unable to operate until repairs were made. Coverage also extends to your Business Liability and protection of money and crime coverage.

See your nearest Porter and McMillan office for a more in-depth review of your business insurance needs.

Home Based Business

If you operate a business from your home you may require business liability along with contents coverage, as your existing homeowner’s policy most likely does not provide you with adequate coverage. Rest assured, that Porter and McMillan are able to provide this coverage with our Home Based Business Packages to protect you.

New Construction (COC)

While building a new commercial structure make sure you are completely covered for those “what if” situations. Course of Construction insurance covers liability for any non-workers on the work site, and any materials on the job site including windows, doors etc.

Contracting

For the construction trades we can supply coverage from snow removal contractors to the large logging and oil and gas industry. We can provide an array of packages to cover you including course of construction, general liability, tools and materials on the job site, and building and office packages.

Bonding

At Porter and McMillan we are bonding specialists. We have the expertise and experience to handle your surety requirements, from Performance Bonds, Labour and Material Bonds and Bid Bonds to Fiduciary Bonds, Electrical Bonds and, Gas Act Bonds along with a wide variety of other bonds.

Porter and McMillan is on the leading edge in bonding, having the necessary Power of Attorney and corporate seal of major surety companies which allow us to issue bonds “in house” resulting in a faster turnaround time for you.

Special Products

At Porter and McMillan we focus on providing optimal coverage and protection for virtually all your business exposures.

For the specialty coverage that you may require Porter and McMillan has a wide variety of products available to enhance your overall insurance protection.

Some of these classes of coverage include:

Aviation
Boiler & Machinery Coverage
Cargo Coverage
Directors & Officers Coverage for non-profit and profit organizations
Employment Practice
Errors & Omissions Coverage
Special Events Coverage including trade show & or liquor events
Golf Hole In One Coverage
Professional Liability
Wrap Up Liability
Umbrella & Excess Liability

Frequently Asked Questions

Will my homeowner’s policy automatically cover my business liability exposure?: No, the liability insurance that a person has on Homeowners, Tenant's, or Condominium unit owner's policy will not cover business operations. If you own or operate a business (small or large) you need Commercial liability coverage to address your business exposures.
If I belong to a non-profit society should the society carry Directors & Officers Liability?: Yes, all organizations should consider purchasing Directors & Officers liability insurance to protect the organization and its individual directors for alleged “wrongful acts”. Such policies include coverage for damages, settlements and costs, as well as charges and expenses incurred in the defense of actions, suits or proceedings.
Under a Commercial Policy do I have to insured for full replacement cost?: We strongly recommend that you review all sums and limits insured for adequacy at least once a year. In particular, construction costs continue to escalate and we recommend that the amount of any property insured on a Replacement Cost basis be reviewed carefully. The best way to arrive at a current replacement cost is to have the property appraised by a professional appraisal firm. This appraisal should include any increased cost due to the application of bylaws and the cost to replace underground property such as electrical, sewer, and/or water pipes.

It is important to note that your Commercial Policy may include a Co-Insurance Clause that requires you to insure to either current Replacement Value(s) or to current Actual Cash Value(s). Failure to do so may result in a Co-Insurance Penalty and/or difficulty in resolving recovery in the event of a loss.
Do all Commercial Liability Polices provide coverage for subcontractor’s working for a company or individual?: Please be advised that the above policy will not provide coverage for the liability of subcontractors. We strongly recommend that you require any sand all subcontractors to maintain their own insurance coverage and that they provide you with evidence of such insurance.