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Insurance for business owners
Insure your business, secure your future. From financing to hiring, starting a new business is complex. Protecting it shouldn’t be.
How insurance protects your new business
You’ve done the hard part: you started a new business. But many new owners don’t realize how property damage, lawsuits and other risks can impact your business. We have you covered.
Three ways to protect your business as it grows
From protecting day-to-day operations to planning for unexpected disruptions, these are the core protections that help entrepreneurs build with confidence.
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Keep income and overhead going If you cannot work, the business can still pay the bills.
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Protect partners, debts, and succession If something happens to an owner or key person, the company can repay debts and keep control.
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Keep your household protected while you build your business A health shock or loss of life does not derail your family’s finances while the business grows.
RBC Business Overhead Expense insurance
Make sure your business can always pay the bills if you or a co-owner cannot work due to a disability.
The right choice if
Your income is needed to pay fixed business expenses.
You are a physician, lawyer, accountant or principal/owner of a closely held business of practice.
RBC Business Loan Protector
The Business Loan Protector policy makes funds available to pay outstanding business loans and loan interest if you become disabled.
The right choice if
You have been in business for at least three years.
Your business has a net worth of $50,000.
You have loans for assets that are
used only for business purposes, such as equipment, property or buildings.
RBC Key Person insurance
Key person insurance helps your business recover from the loss or disability of someone who is invaluable to your company.
The right choice if
Your business employs someone whose contribution to the company cannot be easily replaced.
RBC Business Loan Protector
The Business Loan Protector policy makes funds available to pay outstanding business loans and loan interest if you become disabled.
The right choice if
You have been in business for at least three years.
Your business has a net worth of $50,000.
You have loans for assets that are
used only for business purposes, such as equipment, property or buildings.
RBC Business Overhead Expense insurance
Make sure your business can always pay the bills if you or a co-owner cannot work due to a disability.
The right choice if
Your income is needed to pay fixed business expenses.
You are a physician, lawyer, accountant or principal/owner of a closely held business of practice.
RBC Business Loan Protector
The Business Loan Protector policy makes funds available to pay outstanding business loans and loan interest if you become disabled.
The right choice if
You have been in business for at least three years.
Your business has a net worth of $50,000.
You have loans for assets that are
used only for business purposes, such as equipment, property or buildings.
Talk to an advisor if
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You’re planning to combine multiple products.
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You have unique health or family considerations.
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You want a tailored financial plan.
Start online if
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Your needs are straightforward.
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You know the coverage type you want.
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You want to get started now.
Helpful resources for self-employed business owners
Do Home-Based Businesses Need Extra Insurance?
Home-based business insurance coverage can protect you and your company from damage, theft, and business liability not covered by your home insurance policy.
How Can I Protect My Mortgage, Loan, Line of Credit, or Credit Card Payments?
Discover how creditor insurance can help protect your financial obligations from some of life’s unexpected events, with coverage for mortgages, loans, lines of credit, and credit cards.
Business loan insurance plan premium calculator
Answer a few questions and we’ll calculate the cost of protecting your RBC business loan(s)!
LoanProtector insurance quote
See how affordable it is to protect your RBC Royal Bank loan or line of credit.
Frequently asked questions about insurance for business owners
Personal insurance generally protects your home, car, and personal assets. Business insurance is designed to cover risks related to running a company, such as liability, property, employee coverage.
It’s a good idea to review coverage whenever your business changes. For example, if you hire employees, expand services, buy new equipment, or move to a new location.
Most home insurance policies don’t cover business activities. You may need separate business coverage or buy a policy add-on, depending on the type of work you do.
Key person insurance provides a payout to the business if an essential owner or employee passes away or becomes unable to work, helping the company manage financial impacts and continue operations.
Most of us carry some debt—for a home or a car—or on a credit card. When life goes as planned, these debts fit into your budget nicely. It’s when something unexpected happens that debt can become an issue. That’s where creditor insurance comes in; it can help cover your debt to help prevent it from becoming a burden to you or your family.
Without creditor insurance, you may have to rely on savings or other insurance you have to repay debt—and this can dramatically reduce the money you or your family can put towards other needs.
Get the right insurance for your business
Protecting your business is key to long-term success. The right coverage helps you stay resilient through challenges and opportunities.
