Small and Medium Sized Business Insurance

Operating a small or medium business is a challenging undertaking at any time, but in these tough economic times, any financial loss can be a serious threat. You may not have the infrastructure, resources and in-house expertise required to benefit the needs of your Company, Executives and Employees. Our Local Team from the Commercial Department knows the competitive marketplace and will shop your Insurance needs to many of the largest Insurers in Canada to find the best coverage and price for you. We will find and offer the business insurance solutions to help offset the risks you face YourTeam Insurance Inc. Limited and its affiliated group of companies consist of 5 Family –Owned Insurance Brokerages since 1872. YourTeam Insurance Inc. locations are in South East New Brunswick and we serve the needs of over 12,000 of our friends and business clients. We believe in being a “Main Street” business in both small and larger communities. Our staff are local residents of the communities we serve. WHY TRUST SEARS FOR YOUR SMALL BUSINESS AND MEDIUM SIZED BUSINESS INSURANCE NEEDS?

• Expertise
• Reliability
• Experience
• Competitive
• Well Represented:
• Adaptable:

Co-Insurance Clause

A clause in an insurance policy requiring and insured to carry a certain percentage, usually 80, 90 or 100 per cent of insurance in relation to the value of the property insured.  If the insured fails to do this, then he agrees to be a self insurer of all losses large or small in the same ratio as his failure to comply with the percentage required, is related to the insurance required.  For example, a building valued at $100,000 with an 80 per cent co insurance clause would require insurance coverage of $80,000.  If coverage is carried for only $40,000 then the insured is a self insurer or co insurer for $40,000 of the $80,000, and the insurance company would be responsible for the same amount.  This ratio would apply even if a loss were only $5,000.  Then the insurance company would pay $2,500 and the balance or co insurance penalty of $2,500 would be borne by the insured.