Starting a business is a risky venture, but the rewards can be well worth it! Your business is not just an important investment; itâ€™s a big part of your life. Of course, protecting it from loss and liability is very important â€“ whether your business is large or small.
At AIS, weâ€™ve helped California business owners find the best business insurance for more than 20 years. But do you know what kinds of policies you need? Your insurance needs will vary depending on the size and type of business you own. Hereâ€™s an overview of the types of business insurance policies AIS can find for you:
Commercial property: This is a lot like standard homeownerâ€™s insurance. It protects against many kinds of perils your business could face, such as, fire, vandalism, theft, etc. If your business uses a lot of expensive equipment onsite, a commercial property insurance policy can be a wise investment.
Business auto: If your employees use vehicles for business purposes (either their own vehicles or company-provided ones), a business auto insurance policy can protect against many related losses or damages. Itâ€™s like a business version of regular auto insurance.
Workers’ compensation: If youâ€™re a business owner, California requires you to purchase workerâ€™s compensation insurance on behalf of your employees. This type of policy helps your employees pay for lost wages and medical bills if they are injured on the job.
General liability: As the business owner, your personal finances can be at risk if your business enters into any sort of legal dispute or litigation. If you have a general liability policy in place, you may be covered for all related legal expenses.
Directors and officers: This is a different form of liability insurance that specifically protects directors and officers within your business â€“ since they are personally responsible for company actions. You should carry D&O insurance if you manage employees or if your company has a board of directors.
Commercial umbrella: If you feel your other business insurance policies donâ€™t provide enough coverage, a commercial umbrella policy will cover expenses that exceed the limits of your other policies. Commercial umbrella insurance is usually purchased by large companies, or those with expensive assets.
This content is offered for educational purposes only and does not represent contractual agreements. The definitions, terms and coverages in a given policy may be different than those suggested here and such policy will be governed by the language contained therein. No warranty or appropriateness for a specific purpose is expressed or implied.