If you operate a small business in California, having small business insurance can help protect your business (and perhaps even your personal assets in the process) from potential lawsuits and settlements that can amount to hundreds of thousands to millions.

In fact, ensuring you have sufficient commercial liability coverage should be your priority, as this will prevent you from losing your business or having to cover expenses out of pocket should you incur any losses.

As an employer, you are also legally and morally bound to protect your staff or employees from unexpected circumstances that make your business vulnerable to certain major risks.

Options for Different Requirements and Risks

In California, there are two types of commercial insurance required of small businesses:

• Workers compensation insurance coverage for any non-owner employees
• Business auto insurance for any establishment that owns vehicles used for business purposes, such as cars, vans, or trucks

There is no single small business insurance designed to cover every risk a small business faces. Instead, small business owners can purchase additional policies or coverages that are optional but may be necessary depending on one’s type of business.

The different types of optional commercial insurance include the following:

• Business Owners Policy
• Commercial Crime
• Commercial General Liability
• Commercial Property
• Commercial Umbrella
• Cyber Liability
• Directors and Officers Liability
• Employment Practices Liability Insurance
• Equipment Breakdown
• Professional Liability (E&O)

These different commercial insurance policies are designed to cover certain accidents, damages, and lawsuits that could cripple a small business financially without the appropriate cover.

Cost Considerations

For small businesses, cost is a primary factor in choosing the kind of coverage you want for your company.

If you encounter any difficulties in choosing the right insurance products for your small business, we can go over the different items that can affect the cost of your insurance. In doing so, we can give you a good quote that considers all your business needs and risks.

Below is a list of key factors that can influence the cost of small business insurance policies in California:

• Claims history
• Deductibles
• Number of employees
• Length of experience
• Gross sales
• Industry
• Location
• Policy limits

Of course, the small business insurance coverage and costs usually vary among small businesses belonging to different industries and areas in the California region – and this is where Crescenta Valley Insurance can help.

We know that insurance lingo can be confusing and the many types of commercial insurance can also get overwhelming. This is where you will find our expertise to be exceptionally useful.

Not only will we help you make the best choices, but we’ll also ensure you get the optimal insurance combination for your small business. So, give us a call at 818-248-4500 today!

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