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When you own a small business, you are probably watching every penny that you spend. You may try to save money, by doing with less. That being said, it can be a mistake to skimp on your business insurance. 

In order to make sure that you have enough insurance for your business, you need to know more about the types of business insurance. QuoteBroker Insurance Services in Santa Clarita, CA can help you navigate this important insurance coverage.

The most common type of insurance is called the Business Owner’s Policy:

It includes general liability, commercial property insurance, and business income insurance. 

• General liability insurance protects you if someone is injured on your property. It will cover medical expenses and other fees. General liability also covers damage that may occur to someone’s property. 
• Commercial property insurance covers your building where your business is. It will cover your office whether you rent or buy the building. It also covers the equipment that you have in it. 
• Business income insurance protects you if you are unable to run your business due to property damage. It will help you pay your bills, even though you aren’t able to make any money. 

You may also want to look into professional liability insurance

This is also called errors and omissions (E&O) insurance because it will cover your legal fees if you have made a mistake in your business. 

If you have a vehicle that you use for your business, you will need commercial automobile insurance

This works like regular automobile insurance. 

In order to be fully protected, you may also want umbrella insurance

This simply picks up where your regular insurance stops. 

Give Us A Call

In order to make sure that your small business is protected, you need to contact us today at QuoteBroker Insurance Services in Santa Clarita, CA.

Commercial insurance is vital for any business venture in Santa Clarita, CA. It safeguards business entities against liabilities culminating in their daily activities like an injury at the workplace, property damage, and prevailing damage to reputation. Generally, commercial insurance covers mishaps and accidents which can transpire during ongoing business operations. Nonetheless, it’s also prudent to understand what commercial insurance excludes. With this in mind, QuoteBroker Insurance Services is here to share standard commercial insurance exclusions.

Liquor liability

When a given business entity engages in manufacturing, selling, and serving alcohol, it’s exempted from getting protection as there is no liquor liability. Therefore, a company must obtain a separate policy underwritten explicitly for the liquor risk.

Expected or intended damage

This risk is excluded when a given action is undertaken intentionally, and there is a high expectation of damage or injury from the activity. Commercial insurance won’t cushion you when you consciously engage in an action that is susceptible to a claim. For example, when you try to maneuver a forklift through a parking lot to load materials, you accidentally damage a motorcycle blocking your path.

Breach of contract

Your insurer is likely to dishonor any claim arising from a breach of contract. So, honor your contracts to avoid financial losses.

Pollution

When a given company releases contaminants due to its operations, there will be no compensation against such a claim. This exclusion stands irrespective of whether the pollutants get emitted gradually or abruptly.

Flood damage

Flooding isn’t covered by typical commercial insurance. However, you can purchase stand-alone insurance from private carriers or the National Flood Insurance Program (NFIP).

Are you a business owner in Santa Clarita, CA searching for commercial insurance? Please get in touch with QuoteBroker Insurance Services. We will help you navigate commercial insurance by educating you on what it covers and excludes.

QuoteBroker Insurance Services is here to help businesses in the greater Santa Clarita, CA area with all of their insurance needs. If you have questions about commercial insurance or issues with worker’s comp protection, give us a call today.

Make sure you have the appropriate worker’s comp insurance in place

When an employee gets injured on the job there will likely be some financial impact on your company. Even if you are not at fault, a worker’s comp case may determine that you must bear some of the financial impacts. In most cases, your insurance will kick in and you will have some protection from the financial implications.

Because every situation is different, it can be difficult to determine the exact level of coverage that you should have in place. This amount can be determined in a number of different ways. Because of the variability of the amount you will need, along with the importance of this protection, it is a decision worth a lot of consideration.

Meeting with an insurance agent who understands the complexities of commercial insurance is advisable. By turning to a professional, local agent, you will be able to discuss your unique needs. If you find out that your company does not have adequate protection and needs to increase the amount of worker’s comp insurance that your firm carries, they will be able to help. 

Finding the right policy with the appropriate levels of coverage is very important. 

Don’t overlook this important part of protecting your business

Having the right amount of worker’s comp protection is an important part of business insurance. QuoteBroker Insurance Services is here to help business owners in the greater Santa Clarita, CA community with all of their insurance needs. Call today!