Winter weather is in full effect. That means extremely cold temperatures, freezing wind chills, severe snowstorms, icy walkways and many more. Naturally, winter is a hazardous season in Canada because of the risks it can cause to both individuals and businesses. It can especially cause risk to commercial businesses, such as slip, trip and fall accidents on their premises. These can occur inside, outside or on the road due to the challenging driving conditions that could occur in the middle of a snowstorm.

If you are a commercial business owner with commercial property, there are preventative measures highly recommended to have for your business due to the amount of risks that winter can bring. It all starts with having the appropriate commercial insurance coverage. The following coverage below is what all businesses should consider adding onto their commercial insurance policy:

1. Business Interruption

When your business operations are unexpectedly disrupted due to a flood, windstorm, earthquake or fire, business interruption coverage is beneficial to have for all business owners. This coverage will protect you and your business should you need to temporarily shut down business operations. It will compensate for lost income and costs incurred should your business continue their operations, while in the middle of a rebuild after the said disaster.

2. Commercial Property

A commercial business owner cannot operate their business without a commercial property; therefore commercial property insurance coverage is required. This coverage will protect physical assets such as your building and its contents, which includes equipment, tools, furniture and third party property. For example, snow and ice that thaw during warmer weather could result in huge quantities of water being released, causing floods inside your commercial property. In addition, this can cover other costs associated with theft and sometimes can reimburse you for the cost of rental tools.

3. Commercial General Liability  

With winter being a hazardous season, all commercial businesses should be prepared if staff or visitors injure themselves on the commercial property. Commercial general liability insurance coverage will protect you and your business from a loss if you’re legally accountable for bodily injuries or property damage to a third party, which was caused by a product you sell or the service you provide. Generally, this would apply to slip, trip and fall injuries due to ice and snow on the street of your commercial property or water and wet snow tracked inside the commercial property.

4. Commercial Auto

Oftentimes, most commercial businesses have commercial automobiles – either a single utility van or multiple vehicles. With that being said, you will need to protect those vehicles with commercial auto insurance coverage. In the wintertime, there is a risk of losing control of your vehicle and causing a collision due to the weather and road conditions, such as driving in the middle of a snowstorm. Commercial auto insurance will provide coverage for all your listed commercial vehicles, as well as any damage to a third party. It will also provide coverage for loading and unloading liability and replacement car coverage, should you need to rent a temporary car for day-to-day operations after an accident.

All in all, winter weather is truly unpredictable for business owners and their commercial business. That is why commercial insurance coverage is incredibly important to have all year round. Adding all the listed commercial coverage to your policy will protect your business from the potential winter risks that can ensue. By entrusting Oracle RMS, our licensed brokers will ensure you receive the best coverage and advice that will best suit your business’ situation with a customized plan. Contact us today on how to get started and to gather more information!