Best Business Insurance Broker

An insurance broker is an independent professional certified by the AMF who represents your interest and compares several insurers to find you the best coverage at the best price. An agent is linked to a single insurer and can only offer you its products. For a company with complex and evolving needs, the broker systematically offers more choice, better coverage and a real defense of your interests during claims. Under the Act respecting the distribution of financial products and services, both must be certified by the AMF, but their advisory obligations differ.

There is no universally mandatory coverage for all businesses in Quebec. However, some sectors impose legal or regulatory minimums: the CNESST requires coverage for employees (CNESST applies as of right), the RBQ imposes liability insurance for construction contractors (minimum $2 million), and several professional orders (engineers, accountants, architects, doctors) require professional liability insurance as a condition of practice. If your company operates a vehicle, automobile liability insurance is mandatory by the SAAQ.

The annual premium for general liability insurance for a Quebec SME varies between $700 and $3,500 for a limit of $2 million, depending on the sector of activity, sales and number of employees. High-risk sectors (construction, health, food) pay more. A self-employed consultant can get basic coverage starting at $600 to $800 per year. An Assur360 broker can get you several comparative quotes for your specific situation — free of charge and without obligation. See also our guide to business insurance in Quebec.

It depends on the type of coverage in place. General liability insurance covers bodily injury and property damage caused to third parties, but usually not pure professional errors. For the faults, omissions or negligence of your employees in the performance of their professional duties (bad advice, miscalculation, faulty design), you need professional liability insurance (E&O). A broker can offer you a combined general liability policy + professional liability for complete and optimized coverage.

Business interruption insurance (also known as business interruption) compensates for lost net income and covers your fixed costs — rent, wages, loan repayments — when a covered loss prevents you from operating your business for a specified period of time. Without this protection, even a small fire can force the permanent closure of an SME that can no longer meet its expenses during repairs. Flood, fire and water damage disasters are the most common triggers in Quebec. It is often underestimated but represents one of the most valuable protections for business continuity.

The Autorité des marchés financiers (AMF) regulates all insurance intermediaries in Québec under the Act respecting the distribution of financial products and services (ADFPS). All brokers must be registered in the AMF’s public register, hold a valid certificate in the appropriate category, comply with a strict code of ethics and complete mandatory continuing education. In the event of non-compliance, the AMF may impose fines, suspend or revoke the certificate. You can check the status of any broker for free before entrusting them with your file.

Yes, absolutely. As a self-employed person in Quebec, you are personally responsible for your professional acts — your personal assets (home, savings) can be seized in the event of a lawsuit by a client. Professional liability insurance starting at $600 per year protects you against claims for errors or omissions. If you meet with customers at your home, if you use your personal vehicle for business purposes, or if you handle customer data (Law 25), additional coverage is strongly recommended. Don’t rely on your home insurance — it almost always excludes commercial activities.

There are several concrete strategies to reduce your premiums: installing security systems (ULC-certified alarm, cameras, sprinklers) generates discounts of 5% to 20%. Bundling several coverages with the same insurer (liability + property + cyber + interruption) often gives access to a preferential program rate. Increasing your deductible reduces the premium but increases your exposure in the event of a small claim. Maintaining a clean history over 5 years is the most effective factor — a single claim can increase your premium by 15% to 40%. Finally, shopping around through an independent broker each year can save you 20% to 30% without sacrificing coverage.

No, usually not. Most home insurance policies in Quebec explicitly exclude business activities carried out from home. If you receive customers in your home, if you store professional goods or equipment, or if you use a significant portion of the home for business purposes, your claim related to these activities will be denied. You need either a home office endorsement (for light activity) or a separate commercial policy. A broker can assess your situation free of charge to determine the most economical solution.

As soon as a disaster occurs: 1) Preserve and document the damage in photos and videos before any clean-up. 2) Contact your broker within 24 hours — they will guide you through the reporting and claims process. 3) Do not make any permanent repairs before the fitter is inspected except to prevent further immediate damage. 4) Keep all invoices related to losses, emergency repairs, and temporary expenses (accommodation, equipment rental). 5) Your broker acts as an intermediary to defend your interests and expedite the settlement with the insurer.

Cyber risk insurance covers financial losses related to cyberattacks: ransomware, theft of personal data, business email fraud (BEC), and computer system failures. It takes care of data recovery, mandatory notification to affected individuals under Bill 25 (which came into force in Quebec in 2023), legal fees and business interruption during system restoration. According to the Canadian Centre for Cyber Security, more than 70% of cyberattacks target SMBs — and the average cost of a security incident in Canada exceeds $200,000. For any company that processes customer data or depends on its IT systems, this coverage is now a must.

Commercial fleet insurance covers all vehicles used in your business operations under a single policy, rather than insuring each vehicle individually — simplifying management and often generating savings of 10% to 25%. It includes civil liability (the legal minimum in Quebec according to the SAAQ), damage to vehicles, and can include trucks, service vans, leased vehicles and representatives’ vehicles. Premiums vary according to the type of vehicle, its use (delivery, passenger transportation, service), the territory covered and the drivers’ claims history. See also our page on car insurance.