Four Insurance Coverages Every California Business Needs

Commercial Insurance

Insurance coverage is available for almost every type risk your California business might face. Our agency can advise you on the exact types of commercial insurance you should consider purchasing. The right insurance policies will go a long way toward helping you safeguard your earning power and your future. If you are a business owner, here are a few insurance products that you should consider.

Business Income or Loss of Rents

Commercial Property Insurance can cover loss of business income when damage that has occurred to the business premises (by a covered cause of loss), causes a slowdown or suspension of operations. It can include lost net income, continuing expenses, and even relocation expenses. This coverage is not always automatic, and needs to be

added with specific limits.

Cyber Liability

If your business retains sensitive or non-public information about employees or clients on your computers, servers or in paper files, you are responsible for protecting that information.  If a breach occurs either electronically or from a paper file, a Data Breach Policy will provide protection against the loss. Cyber breaches have increased over 45% in the last year. 30% of breaches occurred in firms with less than 100 employees. Every state has laws regarding notification of breaches which cost as much as $200 per person per breach.

Commercial Umbrella

If you operate a thriving business, your Commercial Liability Insurance may not be enough to protect yourself in the event of a loss. We recommend you consider adding a Commercial Umbrella Policy to protect yourself. A well designed Commercial Umbrella Insurance Policy is one of the main lines of defense in today's increasingly litigious society. For a reasonable premium, a Business Umbrella Policy adds another layer of protection to any of several other policies that you might carry including General Liability, Employer's Liability, and Hired and Non-owned Auto Liability policies.

Errors & Omissions Insurance

Errors and Omissions, also known as Professional Liability Insurance, helps to protect your business from lawsuits and claims which may occur as a result of providing professional services or not delivering on a commitment or promise.  If you provide any kind of "professional" services you need to consider this insurance.

Each company has its own circumstances which dictate what would be needed to safeguard the years of hard work in building a successful enterprise. We will guide you through different scenarios to see what effects it would have on your business and what solutions are available. It may be as simple as a Key-Man Policy or funding a Buy-Sell Agreement with Life and Disability Insurance.