Foxquilt Business Insurance Reviewed (2024)
verified information
Information verified by Alexandre Desoutter
Our articles are written by experts in their fields (finance, trading, insurance etc.) whose signatures you will see at the beginning and at the end of each article. They are also systematically reviewed and corrected before each publication, and updated regularly.
Discover the methodology
The current business ecosystem is proving to be hostile and uncertain for small and medium enterprise owners. To minimize risk and expense, entrepreneurs must protect their assets, staff and operations with the best possible insurance, so that they can pursue their goals with confidence.
At HelloSafe, we want to help you partner up with the best providers, and give you a one-stop shop for advice, comparison tools and personalized quotes. Our Foxquilt review will help you find out how the company can look after your interests, even when things don't go according to plan.
What is Foxquilt?
CEO and Co-Founder Mark Morissette created Foxquilt to furnish small to medium-sized businesses and professional networks with more purchasing power so that they can save on business insurance. Foxquilt’s proprietary technology uses clever underwriting rules paired with a clean user experience to deliver a quote and purchase online experience for commercial insurance.
This makes insurance more affordable for business owners. Their platform, Foxden, was launched in 2018. Although it is a relatively new player on the market, Foxquilt’s reviews from industry experts and clients have been outstanding.
What does Foxquilt insurance cover?
Foxquilt’s proprietary product focuses on solutions for small business owners, especially those who do contract work, have a small team of employees or contractors, and/or those with revenue under $5M per year. Coverage you may need can include General Liability, Professional Liability/E&O, Mobile Equipment, Workers' Compensation, and Umbrella/Excess Liability.
Although it is not a legal requirement for most small to medium-sized businesses to have commercial insurance, it is often a requirement in place by clients in order to do work with/for them. Besides being a work requirement, business insurance exists to help your business when a legal claim is filed against you (for a multitude of reasons).
Foxquilt policies range in coverage based on what you’re looking for and need. Liability limits can range from $1M to $5M for small businesses. Getting started is easy! Simply complete the online application. If you receive a price, you can purchase coverage yourself online or speak with an advisor. If you don’t receive a price, a member of the Foxquilt team will review your application and be in touch to assist.
What types of business insurance does Foxquilt offer?
No matter the nature of your small business, you’ll be able to find appropriate coverage to give you peace of mind with Foxquilt. Foxquilt works with a diverse range of clients, including beauticians, carpenters, wholesalers, distributors, eCommerce businesses, electricians, manufacturers, plumbers, tech companies, health care professionals, janitors, contractors, event planners, caterers, photographers and videographers. Coverage extends to operations and distribution throughout Canada and the United States. Here are just a few of the many industries that they cover.
Here is some more of the specific kinds of coverage available through Foxquilt.
| Insurance offered | Why it matters |
|---|---|
| Commercial General Liability | Commercial General Liability responds to claims when your business or products hurt someone or something. |
| Professional Liability/ Errors & Omissions | Protects the policyholders from client or customer claims relating to errors in their work or services. It is important to those that provide a service, such as legal advisors or medical practitioners. |
| Commercial Property | Essential for the protection of commercial assets like the building you own or lease or your infrastructure. |
| Cyber Insurance | Protects the policyholder in scenarios of cyber crime or attack that could affect the interests of the business. |
| Builder’s Risk | Covers premises under construction or renovation for the duration of the project, as well as materials on-site from damage caused by weather, fire, vandalism or theft, as well as a range of other similar risks. |
| Directors & Officers (D&O) | Provides directors and officers with indemnity in a variety of circumstances in which they may be liable for losses or claims. |
| Workers' Compensation | Covers employee injury benefits should they hurt themselves or become unwell in the workplace |
| Umbrella/Excess | These policies provide cover to safeguard a business from more complex risks, beyond the reach of their main commercial general liability policy. It is useful when a business is quickly growing or working with partners that may carry financial risk beyond the scope of an existing policy. |
| Crime Insurance | Protects the business and its assets from losses as a result of crime, including employee or officer dishonesty or theft. |
| Inland Marine Insurance | Not to be confused with marine insurance, inland marine covers the company property that is not a permanent fixture or infrastructure. Examples can include your company’s tools or mobile equipment, or hardware like laptops and cellphones. |
What are the pros and cons of choosing Foxquilt for your business?
Foxquilt uses market-leading machine learning technology to deliver the best price and experience to its clients. Here are some other things that make it a great option.
Advantages
- They have designed their offering to serve small to medium-sized businesses and sole proprietors.
- Purchase online 24/7
- Foxquilt offers a dedicated customer service team, with telephone and email support 8 am to 8 pm (EST) or 5 am to 5 pm (PST) 5 days a week
- They offer a comprehensive set of business insurance products, to cover you in most circumstances.
Drawbacks
- Foxquilt does not offer 24-hour customer service.
- Foxquilt does not offer in-person consultations.
How do I contact Foxquilt?
It is easy to get a Foxquilt quote for your business.
During business hours you can also contact the Foxquilt team. Here’s how:
| Contact | How |
|---|---|
| Phone | 1-888-878-4588 |
| [email protected] | |
| Webchat | foxquilt.com |
How can I cancel my Foxquilt Policy?
To request the cancellation of your insurance policy, you can contact Foxquilt using the email, webchat and telephone contact details, above.
How do I file a claim with Foxquilt?
Claims happen 24/7, so your provider should be ready.
You can submit claim information anytime here. During business hours you can also contact the Foxquilt team at 1-888-878-4588 or [email protected].
