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TORONTO, April 2, 2024 /PRNewswire/ — A new national survey commissioned through Zensurance. com, Canada’s leading source of small business insurance, has found that in the current post-Covid cost-of-living crisis, Canadians are strangely willing to sue. . small businesses.
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Key Findings from the Survey
1) Bad for Canadian Small Businesses:
Faced with the features and the option to “pick and choose which ones apply,” Canadians were asked “why would they sue a small business if they didn’t have to pay for a lawyer unless they won. “You can simply take legal action for, including:
14,86 %
Turning the fate of the car with a commercial vehicle where they maintain an injury
14,67 %
If a product they purchased from a defective company and caused injury or damage to their property
13,68 %
If a small or contractor made a mistake that damaged your property
13,07%
A twist of fate due to slip and fall in which they maintain an injury.
10,70 %
If a fitness and wellness professional’s recommendation or remedy has caused them pain or money
9,40 %
If you have had food poisoning or an allergic reaction to food you bought at a store.
8,66 %
If the recommendation or remedy of a spa or beauty salon professional has caused them pain or money.
7,76 %
If a small business has suffered a cyberattack and had its sensitive information stolen
7,20 %
If the recommendation provided through a small business or contractor cost them money
A combined majority of Canadians (86. 9%) said the maximum of other Canadians would start a small business (57. 8%) or “maybe” sue (29. 1%) “if they didn’t have to pay unless they win. “
“Canadian small businesses want to be aware of the real dangers they face: in 2023, seven out of ten Canadian small business homeowners faced litigation, up 230% from 2015,” says Danish Yusuf, founder and CEO of Zensurance. com. “Small business owners live in an incredibly challenging economic environment, where cash is scarce. Our survey shows that Canadians are far more litigious than they were just five years ago.
2) Signs of the Times:
A combined 83. 2 per cent of Canadians are more likely (55. 2 per cent) or “might” be more likely (28 per cent) to sue a company than they were five years ago.
In total, 81 per cent of Canadians suffering from monetary hardship are more likely (54. 4 per cent) or “maybe” more likely (26. 6 per cent) to sue a small business for a slip and fall.
3) An American plan?
66. 9% still say Canadians are LESS likely to start a small business than Americans.
A total of 96. 4% of Canadians believe it is very important (79. 7%) or somewhat important (16. 7%) for small businesses to have an insurance policy that protects them against potential legal claims and liabilities, suggesting that small businesses would be sued.
“The costs of protecting your company in a lawsuit can be devastating,” Yusuf added. “A comprehensive business insurance policy can allow business owners and freelancers to cover legal fees if they face allegations of wrongdoing or a lawsuit. “
4) Out of Office:
In total, 95. 9% of Canadians choose to borrow from their employers: 41. 3% say something, 13. 4% say a lot, 17. 2% say a significant figure, 24% say “more than most Canadians think”.
56. 2 per cent of Canadians believe Canadians are more likely to borrow from their employers due to the state of the economy and 27. 4 per cent believe they are more likely to do so.
5) Most Predatory Provinces:
To the question, “In which province do you think other people are most likely to sue small businesses?”More than the share of Canadians (51. 20%) reported Ontario, followed by Quebec (15. 5%), Alberta (11%) and British Columbia (10. 3%). P. E. I. (1. 9%), Saskatchewan (1. 6%) and New Brunswick (1. 5%) were cited as the provinces where people are least likely to sue small businesses.
6) Do the (wrong) thing:
When asked if they had ever opted out of taking legal action against a small business out of fear of the business owner’s monetary stability, 69. 8% said “no. “This placement indicates that business owners cannot rely on excuses or discount offers to appease consumers who feel they have been harmed in some way.
More key takeaways from this survey can be found here.
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About Zensurance. com
Founded in 2016, Zensurance. com is a generation company and the leading source of small business insurance. Small business owners, contractors, independent contractors, and independent Zensurance. com professionals in many industries can shop around and get the specialty policy they want. in just a few minutes.
With its highly reputable team of visitors and network of more than 50 insurers, Zensurance offers its consumers industry-leading premium savings of up to 35% and the confidence to thrive in today’s marketplace.
For more information, visit https://www. zensurance. com and follow us on Twitter, Facebook, Instagram, LinkedIn, and TikTok.
For more information or to schedule an interview, please contact:
Patrick McCaullyPointman Creating noticiaspatrick@pointmannc. com Pointmannc. com
SOURCE Zensurance. com
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