Business Insurance vs Legal Support

✍️ By Debbie Balfour | WBN News | June 24, 2025 | Click HERE for your FREE Subscription to WBN News and/or to be a Contributor.

If you think business insurance covers legal advice or contract issues, think again.
Far too many Canadian entrepreneurs mistakenly believe that once they have business insurance, they’re legally covered in every scenario. But insurance and legal protection are not the same thing, and confusing the two could leave you dangerously exposed.

Here’s the key distinction:

Business insurance protects you financially after something happens, like property damage, a customer injury, or a cyberattack.
Legal support helps you proactively avoid legal issues before they happen—and guides you through them when they do.

🛡️ What Insurance Typically Covers:

Fire, theft, and property damage
General liability for accidents
Errors & omissions (E&O) coverage
Cyber liability
Business interruption

⚖️ What Insurance Does Not Cover:

Reviewing or drafting contracts
Employee discipline or termination guidance
Responding to CRA audits
Lawsuit response or representation
Employment disputes or human rights claims

In short, insurance pays for damages or claims, but it doesn’t help you navigate the legal process. That’s where legal services come in. Whether through a lawyer or a more affordable monthly legal membership, access to ongoing legal support ensures you can get documents reviewed, avoid missteps, and stay compliant.

If you’re running a business, you likely need both. Insurance protects your assets. Legal protection defends your decisions.

Don’t wait until you’re served with papers to realize your “coverage” doesn’t cover what matters most.

Have questions or not sure where to start? I’m here to help—reach out anytime.

Debbie Balfour | Independent LegalShield Associate
📍 Website: www.DebbieBalfour.com
📧 Email: Debbie@DebbieBalfour.com
🔗 LinkedIn: Debbie Balfour
▶️ YouTube Channel: youtube.com/@DebbieBalfour

TAGS: #Business Insurance Canada #Legal Protection For Entrepreneurs #Small Business Risk #Know Your Coverage #Legal Advice For Business #Avoid Costly Mistakes #WBN News Global #WBN News Langley #WBN News Abbotsford #WBN News Okanagan #Debbie Balfour