FAQ

FAQ

We’ve taken the opportunity to provide answers to many of the general questions we receive. Explore below.

Millennium Insurance Corporation is a proud Alberta based company headquartered in Sherwood Park, Alberta offering commercial property and casualty coverage throughout Canada.

Our commitment to providing best-in-class service and products is reinforced by our reputation for having a team of expert underwriters. We consistently maintain a high standard of knowledge, support, and industry specific products, ensuring that we’re a dependable partner and provider in all circumstances.

If you’re a broker interested in establishing a partnership, please complete the form in our “For Brokers” section to get in touch.

Businesses are susceptible to unforeseen property and liability claims which can lead to financial losses. Having the right protection and coverage in place is important in protecting your most valuable assets while helping you manage the potential of a loss to ensure the normal operation of your business and providing you with a peace of mind.

We drive excellence by consistently delivering high quality service and results while continuously seeking opportunities for improvement. It involves dedication to innovation, professionalism, and our commitment to a collective goal.

For more information on specialized coverages for your specific commercial needs, business and operations, please contact Millennium Insurance to speak with a licensed representative.

Businesses differ based on operations, property, location, and other factors, and so do their insurance needs. With a variety of insurance products and solutions available, a knowledgeable broker can help guide your commercial insurance needs to ensure your assets are entirely protected.

As your business changes and grows, your risks and the need for updated insurance products and solutions may also increase. It’s important to review your insurance policy annually with your broker to ensure it aligns with the changing demands and needs of your business.

Your broker will recommend property and liability coverage solutions that are best suited to your company’s size, industry, and operations to help you make the most informed decision. By clearly communicating your business and insurance needs to your broker, you will optimize your coverage while minimizing any gaps.

For most businesses, standard commercial insurance policies provide property coverage for assets like your building, stock, and equipment. They also offer business interruption coverage for when unexpected perils cause a closure to your business. Additionally, there’s equipment breakdown coverage for the repair or replacement of important business equipment due to an insured peril, as well as crime, and liability coverage in the event your business is found negligent for third party bodily injury or property damage.

A few strategies which may reduce your commercial insurance premiums might include completing annual risk assessments to identify and reduce potential hazards resulting in possible safety credits and discounts. Opting for higher deductibles while maintaining adequate coverage and limits may also lead to possible premium savings. Lastly, multi-line discounts may be available which may further contribute to a reduced commercial insurance policy. Please speak with a licensed broker who will guide your business needs at the best competitive premiums.

If your business suffers property damage due to an insured peril or is named in a liability lawsuit due to negligence, it’s important to report these losses right away. Please contact your broker immediately in the event of a loss to avoid delays and to minimize the impact of the loss.

Still have questions?
We can help.

For more information, get in touch with a one of our Millennium Insurance representatives.