Business insurance, also known as business insurance, financially protects your company from common risks, such as customer lawsuits, customer or employee injuries, theft and property damage, as well as other unexpected events. If you don't tell your insurance agent all the names you can operate under, it can make the difference between having coverage or not having coverage. The buildings you own or rent as part of your business, the personal assets of your company and the personal assets of other people constitute the basic coverage sections of commercial property insurance. The business contacts you have established are excellent referral sources for recommending a business line brokerage agent, especially if the contacts belong to the same industry as your company or to a closely related sector.
Designed specifically for small businesses, the Business Owners Policy (BOP) is a combined business policy that covers ownership, general liability, and business interruption. An annual review with your insurance agent of your company's coverage, limits and operations, as well as names, will help prevent any gaps in coverage. It is important that you tell your insurance agent the legal name of your company and any DBA (Doing Business As) name or other name under which you operate. It usually doesn't cost anything to publish all the names your business operates under, but business owners often make a mistake or oversight when applying for coverage.
Whether you're thinking about starting a new business, are a new business owner, or have been a business owner for many years, business insurance can be one of the most important ongoing financial investments you make in the life of your company. The price of a commercial insurance policy will depend on several factors related to your business and insurance coverage. This initiative represents an open door to greater business opportunities for California companies owned by minorities, women, disabled veterans and LGBT people. One of the first steps in buying small business insurance is to contact an authorized insurance agent who specializes in business coverage.
Standard homeowner policies don't usually cover home-based businesses, just as commercial property insurance covers businesses. There are several factors that can influence the price of a business insurance policy, such as the number of employees you have, the location of your business and the amount of coverage you want. Some companies are required to purchase a certain amount of commercial insurance coverage and can then add as much coverage as they want beyond that amount. Accident insurance primarily covers the liability exposure of a person, company or organization.
Initially, a broker will meet with you to discuss your business operations and exposures (the possibility of loss) that are specific to your industry and type of business.