If you are unfamiliar with the concept of commercial insurance then you have certainly landed in the right place. Here in this post, we are going to tell you all about what commercial insurance is and also about the common type of insurance that you can get for your business in California. First, you should know that commercial insurance is the type of insurance that provides coverage for any losses to your business or company. This type of insurance is designed in such a way that it benefits the company, its employees, and also the owners. Now you must know that commercial insurance in California is required by the law. Here in this post, we have mentioned the common commercial insurance types you can get!
What are the common Commercial Insurance types for Business Owners?
The most important types of commercial insurance in California have been discussed in this section:
General Liability Insurance in California
General liability insurance is the type of insurance that can provide you coverage for all kinds of medical costs and legal fees that your company faces in case an employee or customer gets injured at your premises. The general liability insurance CA also helps in saving your business from damages in cases of copyright infringement or libel.
Commercial Property Insurance
Commercial insurance for your property is one of the most important types that you need to get. If you are buying a building for your business then you need to get the commercial property owner’s insurance. This kind of insurance is going to give you coverage for not only the building but also its contents. In events of damages like fire, vandalism, theft, or any other natural disaster, this insurance would cover all the losses. To get this insurance the property needs to be in the name of the company.
Business interruption insurance
Another common type of commercial insurance that you need to get for your company is this one. This insurance is helpful as it provides you coverage in case of business interruptions due to natural disasters or technical faults. Say if your business goes down because of a power failure and is affecting your productivity then this insurance is going to provide you monetary assistance to locate your operations to an alternate location on a temporary basis. You have to check out California business insurance requirements before signing up for a plan.
Commercial Auto Insurance
Here you must know that if your business has transport and the vehicles are registered in your company’s name then you need to get the commercial auto insurance. If you think that conventional auto insurance is going to provide coverage for your business vehicles then you are wrong. You need to get commercial auto insurance quotes California and get the best deals. Having this insurance minimizes the risk of any losses to your commercial vehicles and the passengers traveling in them.These are the most common types of commercial insurance plans that you need to get for your business in California.
