California business insurance offers cover for various aspects of your business. Policy types and premiums are determined by the type and level of risks your business may face. These will vary depending on the nature of your business, your location and any number of other possible factors.
Your basic policy usually covers your building and contents against fire, theft and some other types of damage. Public liability insurance is similar, but is designed to cover people who are not your employees but are injured on your premises, or suffer damage as a result of the activities of your business. Some business types require professional indemnity cover – designed to cover situations where, for example, professional advice is incorrect and results in a client suffering a loss.
Additional risks that may apply to you and are not automatically included in a basic policy can include:
- earthquake, flood, hurricane
- storage and handling of hazardous goods
- particular high risk work environments
- particular high risk work activities
- staff who travel for your business
- death of a key person vital to your business
- perishable goods
- breakdown of specialized equipment
Making an accurate assessment of the risks that may affect your business is part of creating a California business insurance package that will suit the needs of YOUR business. It’s not as simple as a one size fits all approach.
Assessing the Risks to Your Business
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