Protecting your business assets is a top priority, and Canadian small business insurance can offer the security you need to focus on growing your business without the stress of insurance risks.

There are options for small business insurance policies in Canada that can suit a variety of different needs and specific risks faced by particular industries. These policies are built to safeguard against risks such as property damage, liability, workers’ compensation claims, and much more.

20 Best Canadian Small Business Insurance Providers

To help you explore your options, we’ve put together a list of the best 20 small business insurance companies in Canada. Learn about the custom coverage, prices, and entrepreneurial-focused services they offer to guide you on this path. 

1. Zensurance

Zensurance is our top pick for small business insurance in Canada. Established in 2016, it has locations in Toronto, ON, and Vancouver, BC. Zensurance quickly gained a reputation for being a unique alternative to big-box insurers.

As an insurance broker, Zensurance does not offer direct insurance policies. Instead, with its entirely online platform made for entrepreneurs, Zensurance makes it easy to get quotes, submit claims, and more.

Zensurance is especially appealing for entrepreneurs who seek simple, customizable policies without the hassle. 

Thanks to its intuitive interface, customers can shop for customized coverage that meets their needs and access instant quotes online. This new style helps Zensurance stand out as an impressive solution in the often confusing world of business insurance.

Created by entrepreneurs, Zensurance shakes the stale business insurance market with a clean online experience and flexible policies. 

2. EZBenefits

Equitable Life’s EZBenefits offers small businesses in Canada a custom benefits plan for teams with 2-25 employees. 

With its low-cost, simple solutions, EZBenefits offers comprehensive, customizable packages for every type of client, from basic health and dental insurance to unique wellness plans.

What distinguishes EZBenefits from the others is its frictionless digital experience. Employers and employees can track benefits through a website, health and wellness information, and virtual healthcare services.

EZBenefits also offers HR solutions from Citation Canada, such as onboarding support, compliance tools, and training.

3. Easy Group Benefits

Easy Group Benefits makes it simple for small businesses to find individualized health and wellness benefits without dealing with agents. Its two-minute online plan design tool lets you design a benefits package for your employees based on your business needs in just a few clicks.

The process is simple: rank your desired coverages such as dental, prescription drugs, vision care, disability insurance, and more.

Easy Group Benefits then prepares a customized quote for you and your business. This saves time and allows you to hire and retain high-quality employees with an insurance strategy tailored to your company and team.

4. AJG Canada (Gallagher)

Arthur J. Gallagher (AJG) Canada is a reliable source of comprehensive coverage and advice for Canadian small businesses. 

Their service goes beyond standard policies and provides complete coverage, such as: 

• Property insurance
• Liability coverage
• Professional liability
• Cyber liability
• Business interruption insurance

Their individualized focus helps simplify the insurance process, and their expert brokers provide straightforward guidance so each business receives the right coverage for its needs.

AJG Canada has an established underwriter network that provides companies with competitive business insurance pricing.

5. Allstate Canada and TruShield

In Collaboration with TruShield Insurance, Allstate Canada offers custom small business insurance solutions that cover the precious resources you’ve invested so much in.

TruShield focuses on the needs of small businesses, providing coverage that can be customized to meet any business risk and keep your company safe.

For example, Allstate Canada and TruShield’s commercial general liability insurance protects against the costs of customer injuries. This protection reduces the costs of third-party bodily injury or property damage and is essential business liability protection.

6. APOLLO

Apollo Insurance provides a digital solution for securing business insurance in Canada, specifically for small businesses, property managers, brokers, and individual tenants. 

Apollo offers a wide range of business insurance, such as: 

• Course of Construction for home renovations
• Health and fitness liability for health and wellness practitioners
• Professional liability (E&O) for contractors

Apollo excels in customer care, offering great value and comprehensive coverage at competitive prices. The provider’s customer portal makes online access to coverage and coverage changes easy.

7. Aviva Canada

Aviva Canada offers Aviva’s Business and Professional Services Insurance, which meets the specific demands of service-based companies and offers comprehensive protection from property and assets to liability and crime.

This coverage, tailored to small businesses like consultants, graphic designers, veterinarians, and hair salons, lets business owners choose niche protection for their particular business.

For example, Aviva’s property policies provide a broad range of policies that protect buildings, outside signs, renewable energy appliances, and underground services within your property boundaries.

8. RBC Business Insurance

RBC Insurance provides a suite of specialized business insurance policies to assist Canadian businesses and their employees in the face of unforeseen scenarios.

With options like business overhead expense insurance, key person insurance, and buy-sell insurance, RBC Insurance helps companies protect assets, cash flow, and continuity from disruption.

Through expert support and multiple special needs policies, RBC Insurance allows entrepreneurs to orient themselves toward expansion and sustainability, knowing they’re covered in case of a challenge.

9. Cooperators Small Business Insurance

The products and services available through Co-operators Insurance are geared towards defending Canadian businesses at every level, from start-up to enterprise.

For example, their commercial property insurance covers the building, contents, and assets, whether you own, rent, or lease your space.

They also offer crime coverage to safeguard against losses not typically covered under property or liability policies, like employee fraud and credit card theft.

Co-operators are a solutions provider with over 50 coverage plans for all industries. Their risk management solutions are designed to assist organizations in taking responsibility for risk, and their team of advisors is available to support and guide customers throughout the process.

10. Desjardins General Insurance (DGIG)

Desjardins has insurance products that will meet the needs of most Canadian business owners, from property and liability coverage to cyber risk and credit protection. 

Whether you are looking to secure your business property, your fleet, or your employees’ financial security, Desjardins’ business insurance policies offer customized coverages to fit the needs of all industries.

Desjardins also provides entrepreneurs with life, health, and disability insurance, term life, and permanent life coverages to reduce the financial burden of a severe illness or injury.

Cyber risk insurance protects businesses that work with sensitive data against the economic impact of phishing, malware, and ransomware attacks. 

It covers data compromise, computer attacks, and a wide array of cyber threats, and it gives you access to IT and communications experts to help your business rebound quickly. 

11. Economical Insurance

Economical Insurance provides industry-specific commercial liability insurance for the manufacturing, construction, logistics, real estate, retail, and professional services sectors. 

They provide general liability coverage, encompassing common liabilities, including property damage, bodily injury, advertising injury, and personal injury, and comprehensive support should third-party damage arise. 

Commercial errors and omissions and pollution liability, among other coverage options, further expand coverage, making Economical the perfect match for specialized companies.

Economical also provides businesses with more than 600 claims professionals on call 24 hours a day to give them the fast service they need. Economical provides coverage suited to foreign sales so Canadian businesses can expand with ease while growing into the U.S.

12. EDC Credit Insurance

EDC offers tailored credit insurance to empower Canadian corporations to expand confidently around the world. EDC Credit Insurance protects you from non-payment by covering up to 90% of insured losses for customers’ bankruptcy, contract cancellations, currency problems, etc. 

With this insurance, you can sleep at night knowing that one unpaid invoice won’t hit your bottom line, and you can stay focused on development instead of exposure.

Using EDC’s trusted coverage and commitment to Canadian exporters, organizations can offer competitive payment terms and obtain additional financing, confident their sales will continue, even in the most challenging times.

13. Group Enroll

Group Enroll is a simple solution for group benefits, allowing Canadian employers to quickly implement entire coverage solutions for their workers. 

Underwritten by GreenShield, one of Canada’s largest health and dental benefit providers, Group Enroll offers various benefits, wellness programs, and convenient online enrollment.

The company offers several packages (Bronze, Silver, and Gold), which begin at $94.69 per employee and can be customized to fit any business size. 

14. ALIGNED Insurance

ALIGNED Insurance tailors insurance products for sole proprietors across Canada to provide personal and business protection. 

A sole proprietorship is typically a simple business structure allowing absolute owner responsibility. 

However, it also means personal property is subject to lawsuits or loss. ALIGNED’s Sole Proprietorship Insurance offers a line of defense, allowing entrepreneurs to stay on top of their business without being saddled with costly mistakes.

Some of the coverage options it provides include:

• Commercial general liability
• Commercial property insurance
• Professional liability insurance
• Commercial auto insurance
• Cyber liability insurance

15. Northbridge Insurance

Northbridge Insurance realizes small business owners put everything they have into their work, so they provide a powerful and customizable insurance plan for Canadian small business owners.

Offering protection for industries such as contracting, manufacturing, consulting, and wholesale, Northbridge’s Small Business Insurance package includes coverage your business won’t want to go without.

Beyond its basic coverage, there are also compelling extras included with Northbridge’s small business policy. 

With 24/7 claims service, multiple payment options, legal support, and risk management support, Northbridge stretches itself to bring businesses the tools to cope with risks and unpredictability. 

The policy has a single deductible across multiple claims, and there is no penalty for policy change to make it easily adjustable as your business expands.

16. Sterling Broker Small Business Benefits 

For more than 60,000 Canadian businesses, Sterling’s combination of technology and customer support makes it a trusted partner for helping them expand their benefits programs and maximize their available resources.

Sterling provides new, tech-enabled technology for HR management of employees’ benefits, making it easier to choose the right plan and administer enrollments and deductions. 

Sterling’s SCB Connect platform allows businesses to integrate benefits management into their HRIS and payroll systems, simplifying complex administrative tasks. 

As a third-party administrator, Sterling has privileged rates that provide competitive prices for each client’s needs.

17. Aon Canada

Aon understands the problems small businesses encounter, particularly during economic volatility. Small business insurance from Aon compensates for these risks, shielding your company against costly financial losses.

Aon combines commercial property, general liability, business interruption, and crime insurance into one comprehensive package that covers a range of small business needs. 

Other products include:

• Accounts Receivable (AR) Insurance, which helps safeguard against losses incurred in customer bankruptcy and insolvency
• Commercial auto insurance, which insures business vehicles
• Economical fleet insurance for businesses with five or more cars

18. Summit Commercial Solutions

Each small business is different, and the right insurance policy requires specific solutions for your unique industry. Summit Insurance provides customized commercial insurance plans for Canadian business owners to help you protect your business.

Here’s an overview of some of Summit’s solutions:

• Building and Property: For developers, contractors, landlords, and property managers.
• Professional Services: Insurance for lawyers, accountants, consultants, engineers, and architects.
• Technology: For IT, SaaS, fintech, and proptech companies policies.
• Manufacturing: Machinery, food and beverage, and manufacturing companies.
• Retail and Wholesale: For eCommerce, café, and wholesalers of products.
• Health and Wellness: Insurance for gyms, spas, clinics, and dental practices.

19. TD Insurance for Business

TD Insurance offers industry-specific coverage for small businesses in Canada.

TD Insurance has custom policies to accommodate virtually any business, from professional services and healthcare to retail, construction, hospitality, manufacturing, and real estate.

Possible coverage options include: 

• Commercial Property Insurance: Insures physical injury or loss of insured property, contents, and assets resulting from specified accidents. You can also add business interruption coverage to offset lost income due to short-term closures.
• Commercial General Liability Insurance: Protects against financial loss from third-party injuries, property damage, and advertising injuries resulting from business activity, products, or services.
• Commercial Auto Insurance: This insurance covers commercial vehicles used by the business and covers vehicle damage, liability, and medical bills arising from an accident.

TD also offers many savings, including discounts of up to 15% on property and liability policies, bundling discounts, and loyalty savings for TD customers.

20. Travelers Canada

Travelers offers comprehensive commercial general liability (CGL) insurance that protects companies from bodily injury, property damage, and other legal fees. 

CGL insurance is crucial for any company that regularly deals with contractors, clients, customers, and the general public. It can protect a company against financial loss when an accident or claim occurs while the business is in operation.

Most Travelers CGL policies include coverage for:

• Premises Liability: Insures injuries that occur on your commercial property.
• Products Liability: Insurance for damage and harm from your goods or services.
• Accidental Personal and Advertising Damage: This involves allegations of libel, slander, unlawful eviction, and copyright infringement in advertising.

Travelers also has a small business owner’s policy (BOP) that combines general liability coverage, commercial property insurance for the physical assets, and business income and extra expenses (BIEE) coverage to maintain revenues if a covered loss disrupts operations.

Want to learn more about Canadian small business insurance? 

Try one of these articles next:

• Top 8 Business Insurance Companies in BC
• Top 8 Business Insurance Companies in Ontario
• Top 8 Business Insurance Companies in Alberta