(Safeguarding Your Business with Safe Insurance)
Business insurance can help pay the costs of property damage, lawsuits, lost business income, and other covered losses. To help protect against specific risks unique to their situation, businesses often buy multiple coverages and combine several in one policy. A Business Owner’s Policy (BOP), for example, combines property, general liability, and business income coverage into one convenient policy.
Business insurance, also known as commercial insurance, helps protect business owners from unexpected losses. With the right types of insurance, you won’t have to pay out-of-pocket for costly damages or legal claims against your business. In some states, it may be required for companies to have specific types of business insurance.
Business insurance helps protect your business’s financial assets against risks and unexpected accidents that can occur during normal business operations. Typically, businesses get multiple types of coverages to ensure they’re fully prepared for unexpected losses. Business insurance can cover several different risks associated with your business operations, including:
If an employee is injured on the job, workers’ compensation insurance can help cover their medical expenses and lost income while they recover.
Commercial property insurance helps protect your business’s owned or rented buildings, tools, or equipment you use for business if they’re damaged or destroyed in a covered loss.
If you or your employees use vehicles for business reasons, commercial auto insurance can help cover the cost of an auto accident that happens on the job – regardless of who is at fault.
If a customer slips and falls in your business and files a lawsuit against your business, general liability insurance can help pay for their medical expenses.
Losses from certain types of natural disasters, floods, and other major weather events may not be covered by standard commercial property insurance policies. The same applies to any customer property stored at your business. Intentional and fraudulent acts are not covered by standard professional liability policies. Standard general liability policies do not cover auto accidents – you would need commercial auto coverage for that.
Standard types of business insurance policies don’t cover everything, but it is possible to add coverage riders to standard policies to help cover additional risks.
Business Owner’s Policy (BOP)
One of the most popular business policies is a Business Owner’s Policy (BOP). A BOP generally includes business property, general liability, and business income coverages in one policy. Combining these coverages isn’t only convenient, but it can also help you save money on business insurance.
General Liability Insurance
General liability insurance helps protect you from having to pay the full cost of bodily injury or property damage claims against your business. For example, a customer may make a claim against your business if they are injured in your store. General liability can help cover you against the costs of the claim and even help pay for defense costs. It also helps protect your business from the costs of errors in your advertising.
Business Personal Property Insurance
Protects physical items such as equipment, furniture, and inventory within your business property.
Business Income Insurance
Compensates for lost income and operating expenses if your business operations are disrupted due to a covered event, such as fire or natural disasters.
Professional Liability Insurance
Also known as Errors and Omissions (E&O) insurance, this covers claims of negligence, errors, or omissions in the professional services you provide.
Workers’ Compensation Insurance
Covers medical expenses and lost wages if an employee is injured on the job.
Transportation and Truck Insurance
Essential for businesses that rely on transportation and trucking. This coverage can help pay for damages or losses involving commercial trucks and other vehicles used for transporting goods
Commercial Auto Insurance
Provides coverage for vehicles used in your business operations, including liability protection for accidents, vehicle damage, and goods in transit.
Data Breach Insurance
Protects your business from losses related to data breaches, cyberattacks, and other digital risks.
Commercial Umbrella Insurance
Provides additional liability coverage beyond the limits of your existing policies.
Commercial Flood Insurance
Covers damage to your business property caused by flooding, which is typically not covered by standard property insurance.
Employment Practices Liability Insurance
Covers claims related to employment practices such as wrongful termination, discrimination, and sexual harassment.
Home-Based Business Insurance
Provides coverage for businesses operated out of the home, addressing risks not covered by standard homeowners’ insurance.
On average, small business owners paid about $1,019 a year or $85 per month for business insurance. Keep in mind that the cost of business insurance will vary because each business is different and faces its own unique risks. What you pay for insurance will often depend on different factors, such as:
For more detailed information about business insurance or to get a quote tailored to your business needs, contact Safe Insurance today. We can help you get answers to more business insurance frequently asked questions and guide you in choosing the right coverage for your business.
For detailed information, expert advice, or to get a quote, contact us directly. Our team at Safe Insurance is ready to assist you with all your insurance needs, providing the security and support your business deserves.
By choosing Safe Insurance, you’re not just buying an insurance policy; you’re investing in the future stability and success of your business. Protect your hard work and secure your professional legacy with our reliable insurance options
Glendale, CA 91203
(818) 818-7962
Insurancesafeagency@gmail.com
