The Sovereign advantage

The property you need to protect extends beyond your four walls. In addition to your buildings, property includes your signage, equipment, materials and stock – all the physical assets that are essential to running your business smoothly. What's more, property that’s off site, in transit or the property of others in your care needs coverage too. Your protection needs can be extensive, so your coverage needs to be broad. That’s where our experienced, creative and knowledgeable team can help. No matter what industry you’re in, we work closely with your broker to provide complete package solutions to reduce potential gaps in coverage – providing an ‘all-in-one’ solution to help meet your business’ unique needs.

 

Customer centric

We focus on what our clients need, not what we have to sell. We strive to understand your business, deliver the right protection and empower you to make your operations better. We believe your experience matters and pride ourselves on exemplary service.

Cost effective

We help tailor coverage and terms to meet the needs of your business – giving you more of what you need and less of what you don’t. This ensures that not only is your policy cost effective, but that you’re getting great value.

Complete solutions

The financial well-being of your business requires that your assets and your income be protected. There’s more to your business than your Property exposures and that’s why we take a holistic approach to assessing your coverage needs. We provide a complete package solution which reduces the potential for gaps in coverage.

Coverages designed to protect your business

Risks to your property are as unique as your business. That’s why we believe in developing coverage to address the specific exposures faced by operations like yours. We start with a broad base of coverages and build on this strong foundation with additional coverages designed for your industry or operation. We also offer a wide-ranging list of extensions and enhancements that can be customized to provide an insurance solution that fits your business needs. Some of our key coverages include:


Commercial Building Equipment and Stock Broad Form

Commercial Building Equipment and Stock Broad Form

Coverage Snapshot

You've got property, equipment and stock at your operation, at off-site locations and even in transit. It's important to make sure it’s all protected. Commercial Building Equipment and Stock Broad Form covers your:

  • Buildings – and any equipment or signs attached
  • Outbuildings – including garages or outbuildings on the same premises
  • Stock – including raw materials, finished products and packaging materials
  • Contents and Equipment – furniture, fixtures, machinery and similar property belonging to others that’s in your care

We can also provide coverage for property off-premises, at unnamed locations and in transit.


Imagine a scenario where...

A shed on your property catches fire. Not only is your shed a complete loss but now the equipment you were housing for a contractor is damaged beyond repair. With Commercial Building Equipment and Stock Broad Form protection, you’re protected.

Equipment Breakdown

Equipment Breakdown

Coverage Snapshot

You work with a lot of equipment, each with moving parts that are susceptible to breaking down from time to time. Equipment Breakdown provides coverage at your insured location for: boilers, pressure vessels, refrigeration and air conditioning equipment, electrical or electronic apparatus that are connected and ready for use. This coverage helps protect and manage your business in the event of an unexpected breakdown.


Imagine a scenario where...

Compressor failures take down your refrigeration system. It takes several days to repair or replace the equipment and you’re left worrying about how you’ll fulfill your product orders and meet the expectations of your customers. You face out-of-pocket costs to not only repair or replace the physical equipment but also the additional costs to keep your business up and running. Equipment Breakdown coverage can help cover some of those costs.

Business Interruption coverages (Gross Earnings, Profits, Extra Expenses)

Business Interruption coverages (Gross Earnings, Profits, Extra Expenses)

Coverage Snapshot

An interruption in your business can negatively impact your income or your profits while adding extra expenses necessary to keep your business going. We can cover your loss of income until you’re able to re-open your business or for the time it takes for your profits to recover. In addition, Business Interruption coverages provide funds for reasonable and necessary expenses so you can get back to business as usual.


Imagine a scenario where...

A fire breaks out in your factory. Part of the plant, including your offices, is destroyed and several pieces of machinery are damaged. You’re forced to close for months while clean up and repairs take place and new machinery is purchased.

Gross Earnings coverage can replace your lost income from the date of loss to the day you re-open your doors.

Profits coverage can replace your lost income until your profits return to the level they would have reached had the loss not occurred.

Extra Expense coverage can help pay for costs to relocate your office operations, to rent an alternative location and to move some of your undamaged machinery to continue production as best you can.

Contingent Business Interruption

Contingent Business Interruption

Coverage Snapshot

You’re part of a supply chain and depend on others, either as one of your suppliers or as one of your customers. A break in the chain can negatively impact your sales. Contingent Business Interruption provides coverage for loss of sales resulting from a physical loss of (or damage to) a supplier or customer’s operations or property.


Imagine a scenario where...

Your wholesale operation depends on a network of suppliers. One of your suppliers suffers a fire, which causes them to suspend their operations temporarily. Without incoming shipments you can’t fulfill orders with your retailers. The loss of sales is covered under a Contingent Business Interruption policy.

Warehouseman's Legal Liability

Warehouseman's Legal Liability

Coverage Snapshot

Operating a warehouse requires that you take reasonable care of your customer’s goods. But with a lot of people and transportation in motion, there's always a chance something can get misplaced or damaged. Warehouseman’s Legal Liability coverage protects you in the event you are found to be legally responsible for loss or damage to your customers’ merchandise while it’s in your care and custody.


Imagine a scenario where...

A new forklift operator stops too quickly causing an entire flat of valuable breakables to spill over the warehouse floor. Warehouseman's Legal Liability provides coverage for this type of situation.

Transportation Floater

Transportation Floater

Coverage Snapshot

Whether by rail, in the air or on the big open highway, you want to keep the goods you’re transporting safe. With all the variables in play, that's not always possible; there's always a risk something can happen to the product you're transporting. Transportation coverage can protect incoming and out-going shipments of goods against loss or damage until they reach their destination.


Imagine a scenario where...

One of your trucks is involved in an accident on the highway and stock is thrown around in the bed of the truck. With a Transportation Floater, you’re protected against claims for damage to the property as a result of the accident.

Motor Truck Cargo

Motor Truck Cargo

Coverage Snapshot

You want to get the goods from A-to-Z on time and undamaged, but some trips are riskier than others. While on the road, there’s always a risk that your product could accidently get crushed, dropped or damaged. Motor Truck Cargo coverage can protect against loss or damage to your goods, or to your customers’ goods, while being transported by truck, including while being loaded or unloaded.


Imagine a scenario where...

One of your trucks is on the highway, getting food to grocery stores across the province. A car swerves in front of the truck, forcing it off the road, and the truck overturns. Your cargo scatters across the highway, destroying the entire shipment. Motor Truck Cargo coverage can protect you for the value of the damaged cargo.

Contractor's Equipment

Contractor's Equipment

Coverage Snapshot

You’ve got the right tool for every job - from hand tools to power tools, compressors, generators, and even large equipment like backhoes, excavators, cranes and specialized equipment. Whether in your yard, on a work site or in transit, Contractor’s Equipment provides coverage for tools and larger pieces of equipment against many exposures, including theft, fire and upset at job sites or in transit.


Imagine a scenario where...

An excavator on your jobsite topples over into the hole it’s digging. Contractor's Equipment helps by covering the cost to repair or replace your excavator.

Crime

Crime

Coverage snapshot

A dishonest employee looking for a quick break could leave your business at a loss. Crime coverage can provide protection for loss of money, securities or other property due to theft or forgery by an employee.


Imagine a scenario where...

An employee has been embezzling funds and re-directs monthly payments from one of your customers to a separate personal account. By the time the finance department becomes aware, your company has lost a significant amount of funds. Employee Dishonesty, which is one of several available Crime coverages, can protect you from this type of financial loss by reimbursing you for the amount lost, up to your limit.

In addition to the key coverages above, our Platinum Extension Package offers more than 50 coverages addressing specialized classes of property and broader covered cause of loss.
These coverage extensions apply to Building, Contents, Business Interruption and Crime. We also offer additional coverage extensions that have been designed with specific industries in mind.