What Commercial Insurance Policies Does My Business Need?

In business, like all things, it’s important to expect the unexpected. Perhaps the best way to prepare for the unexpected is to carry commercial insurance lodi ca. Many states require businesses to carry insurance policies, but in some cases, those policies will still leave you vulnerable. Here are some essential insurance policies for any company, large or small

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Liability Insurance

General liability insurance is the best place to start, as it is one of the most comprehensive types of policies. General liability protects your business from claims due to property damage, injury, or negligence. In addition, it covers you in the event of theft, vandalism, or fire. It also protects intellectual property against copyright infringement, slander and libel.

Umbrella, or Excess Liability Insurance

Excess liability insurance acts as an “umbrella” to cover your commercial insurance lodi ca if you are sued for an amount beyond your liability coverage. It’s a smart add-on, as a small monthly payment can cover an expense that might otherwise force your business to close!

Worker’s Compensation Insurance

While some amount of worker’s compensation insurance is generally required by law, and while worker’s can opt out of it businesses cannot. In fact, you may face a fine or be criminally liable for failing to do so. Worker’s compensation covers a broad cross-section of injuries and accidents that may occur even in the safest of workplaces.

Health and Vehicle Insurance

While you’re in the market for commercial insurance lodi ca, you should consider purchasing your group health insurance and fleet vehicle insurance from the same company. You may get a discount for holding multiple policies, and it will be easier to keep track of.

Commercial insurance may seem like just another check to write every month. But if you’re in business long enough, chances are, you’ll need it. And when you do, you’ll be very glad you have it!

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