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28 August, 2018 0
essential business insurance

Essential Insurance Coverages for Your Small Business

Make sure that your business has these can’t-miss coverages in place.

As a business owner, you probably know how important it is to have the right commercial insurance in Los Angeles, California.  However, with all the coverage options out there, it can be difficult to identify which policies are most essential for your business.  To make things a little bit easier, here are some of the basic insurance policies that every business should have in place. 

Commercial General Liability

One of the most serious risks that your business faces is the threat of a major liability issue.  These types of claims arise when your company is deemed responsible for third-party injuries, property damages, or other losses.  Luckily, having the right commercial general liability insurance in place will ensure that you have coverage to address the cost of the affected party’s medical treatment and/or repairs.  Additionally, this type of insurance will offer coverage for your legal and settlement fees in the event that your business is sued for losses.

Commercial Property

Your business also faces the risk of damage to its physical building and the supplies, inventory, equipment, and other property housed inside of it.  This is why its so important to have the right commercial property coverages in place.  This insurance will ensure that you have coverage for property repairs and replacement if your business suffers damages from vandalism, break-in, fire, extreme weather event, or another covered perils.

Workers Compensation

Workers compensation insurance is one of the few commercial coverages that is actually mandatory.  In fact, almost every state in the country has laws governing the amount of workers comp coverages that businesses are required to carry.  This type of insurance will cover the medical costs and lost wages of employees that get injured or become ill while on the job.  Additionally, this insurance can be used to cover your business’s legal and settlement fees in the event that an injured employee decided to sue your company for losses.

These are some of the business insurance policies that you cannot afford to overlook.  Do you have additional questions regarding your commercial insurance in Los Angeles California?  Then don’t hesitate to contact us at Fuller Insurance Agency in Southern California.  Our dedicated team is ready to assist you with all your coverage needs today.

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