SGI Canada - Commercial Auto Liaiblity Insurance
If your business vehicle is involved in an accident and you're found at-fault or, you're responsible - this is your liability for the cost of the damage you've caused, including:
- damage to personal property
- physical injury or death to another person
- a victim's lost or potential income
An auto policy protects your business and your from financial loss, including being sued, but it's up to you to decide the amount of protection you need.
Third-party liability coverage
In Alberta, you are legally required to carry a minimum of $200,000 in liability coverage for your business. But you may want to purchase more, such as:
- $1 million
- $2 million
Note: Under special circumstance you can even get as much as $5 million.
If you're found at-fault, you're protected from financial loss up to your chosen coverage amount, whether it's for injury payments, property loss or being sued.
Ask your broker for advice in determining what amount of liability coverage is right for your business. Think you might need extra coverage? Ask about an SGI CANADA Business Liability Umbrella policy.
Family protection coverage
When you purchase an SGI CANADA commercial auto policy, you automatically get family protection coverage.
It is not liability coverage. It is extra coverage that protects you and your family when the at-fault driver doesn't have enough liability coverage.
Family protection covers you if you, or an eligible family member, is injured in an automobile accident caused by someone who does not carry enough insurance to cover the full amount of your eligible claim. This is particularly important when driving in the U.S. where the minimum amount of insurance drivers must have is as low as $25,000 in some states.
Family protection coverage matches your liability amount up to $2 million.
Contact Monarch Insurance Brokers for more information.
780-422-0568 | email@example.com
How a broker can help
More than 200 companies provide insurance to consumers in Canada, each offering its own unique coverage and expertise. It can be frustrating and confusing to compare different insurance products on your own.
An independent insurance broker is your best ally. They do the legwork to find you the best insurance coverage at a price you can afford and at no additional cost to you as they are paid by the insurance companies.