Commercial Insurance in London
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London Commercial Insurance with Oracle RMS
If you reside in London and own a commercial business, it is important to have commercial insurance. General Liability Insurance is mandatory for the majority of business owners to protect their business should their operations result in a lawsuit.
The City of London is the largest southwestern Ontario municipality and Canada’s 11th largest metropolitan area. It is also a regional centre of healthcare and education to Western University, Fanshawe College and several hospitals. London’s economic activity is dominated by education, medical research, insurance, and information technology.
Much of the life sciences and biotechnology-related research is conducted or supported by Western University, which adds about $1.5 billion to the London economy annually. Needless to say, with all of that on the line, it is important to have commercial insurance.
In Need of Insurance for Businesses? We Have You Covered
If your commercial business is located in London, it is important to have the right types of commercial insurances. All businesses need commercial insurance because it will protect your business and help cover the costs associated with liability claims and property damage. Whether you are a big or a small business, owning the right commercial business insurance ensures your operational longevity and peace of mind.
In London, when you purchase Commercial Insurance with Oracle RMS, you are insuring your overall business, such as all commercial vehicles insurance including all listed drivers, commercial property insurance, and liability insurance to third parties that result in any loss or damages. We also offer property insurance, insurance that protects from general liability, and insurance policies that suits your commercial and business needs.
By partnering with Oracle RMS, we provide excellent customer service and work hard to get you the best commercial insurance rates in London that best suit your unique needs.
We are proud to be partnered with a wide range of insurance companies who can provide a variety of commercial insurance quotes for all London business owners.
At Oracle RMS, you will work along with one of our licensed business insurance brokers to help guide you through the quoting process. They will make sure you understand all the business insurance jargon and information up to the last detail of your auto policy before you’ve made the final decision.
Commercial insurance will protect your business and provide coverage for your property, vehicle(s), all listed drivers and any loss or damages. Without the right business insurance, business owners will be required to pay out of their own pocket for costly damages and/or legal claims that are made against their company. Below is a list of buisness insurance coverage that businesses should have:
Commercial General Liability Coverage:
This section of a commercial insurance policy will provide coverage to protect the insured if a third-party has been injured or has succumbed to their injuries, or their property is damaged. It will compensate for claims in the event of a lawsuit against the insured up to the limit of their coverage. It will also compensate for the cost of settling a claim.
Commercial Automobile Coverage:
This section of a commercial insurance policy covers all listed business vehicles, such as cars, trucks, vans, commercial use trailers and more. It also protects your business when your vehicle(s) are involved in a collision or are stolen, vandalized or damaged, while providing funds to repair or replace your vehicle(s). Lastly, a commercial auto insurance policy covers medical-related expenses and third-party property damage.
Commercial Property Coverage:
This type of commercial insurance protects your business against any loss of damage, such as fire, theft, vandalism and more. It provides coverage for the physical assets inside and outside your commercial business, which includes the commercial building, inventory, electronics, equipment and tools, as well as the exterior fixtures.
Business Interruption Coverage
This type of commercial insurance coverage covers the business owner(s) when their operations have been unexpectedly disrupted by a flood, earthquake, fire or windstorm. This will also provide protection when your commercial business needs to temporarily shut down your business operations. In addition, should you need to continue to operate your business in the middle of a rebuild after a disaster, business interruption coverage will compensate for lost income and costs incurred. It should be noted that business interruption insurance also comes with various levels of coverage options such as Contingent Business Interruption, Named Perils Business Interruption and Service Interruption.
Whether customers are shopping for a better commercial insurance policy, are informed about their upcoming commercial policy renewal or are looking to save money on their current policy, overall, it is important to be informed about commercial insurance and how a policy works.
The Right Coverage For You
At The Best Price
Commercial Business Statistics in the City of London
In the City of London, the largest industry from a business count is healthcare, while the smallest industry from a business count is Public Admin. There are 239,935 people employed in the City of London. 122,185 of that number are male employees, while 117,755 are female.
Meanwhile, there are 18,870 unemployed London residents. 10,080 of those unemployed are male, while 8,790 are female. With that being said, there are a total number of 258,805 people in the labour force in London. This means that the employment rate equals 59.2%.
Overall, the employment rate in London is declining at a rate of 0.26% per year over the past 15 years from 2001 to 2016. Its unemployment rates grew by 7.9%, which is an average growth rate of 0.06% per year from 2011 to 2016.
Commercial Business Facts in the City of London
The participation rate in London is declining at a rate of 0.24% per year over the past 15 years from 2001 to 2016, which means the proportion of the working population in London is lower than the past.
As of 2016, the City of London is home to 300 technology companies that employ 3% of the city’s labour force such as the Info-Tech Research Group and Arcane Digital.
The largest employer in London is the London Health Sciences Centre, which employs 10,555 people in total.
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