If you own a business, you would need an insurance policy that protects you, your employees, and your business. You could analyze your business risks and pick the right type of insurance policy that best suits your requirements. If you are unable to decide, there are insurance agents or brokers to help you. Here is an overview of the kinds of quotes available. Obtaining information online for California business insurance is easy and nearly everything can be done online or over the phone.
Types of Online California business insurance Policies
Based on what risks the insurance covers, it is classified into five categories.
1. General Liability Insurance
It covers:
* Medical expenses for accidents
* Property damage
* Slander
* Libel
* Cost of lawsuits, settlement bonds, or judgments
2. Product Liability Insurance
Manufacturing companies would need it in case the manufactured products are defective. The financial loss could be covered with this type of insurance.
3. Professional Liability Insurance
A business which provides professional services would need this type of insurance to protect against errors, malpractice, or negligence in their services.
4. Commercial Property Insurance
There are two forms of this type of insurance:
i. All-risk policy which includes a wide range of perils and incidents
ii. Peril-specific policy which includes coverage for perils specifically mentioned in the policy like fire accidents, floods, or crime.
5. Home-Based Business Insurance
Small businesses would also need insurance to cover normal risks like property damage. However, depending on your business, you may also want to include general or professional liability policies.
Some Types of Insurance is Required by Law
When searching for online California business insurance there are certain kinds of insurance that you must have as a business owner. Some of the mandatory considerations for your business in California are:
* Workers’ compensation insurance for your employees
* Disability insurance for eligible employees to cover them in case of injury or sickness
* Automobile insurance for drivers if you own a motor vehicle business
Additionally, you could opt for:
* Business Owner’s Policy (BOP) or General Liability Insurance
* Errors & Omissions (E&O) or Professional Liability Insurance
* Employment Practices Liability Insurance (EPLI)
* Commercial Property Insurance
Regulating Agencies for Online For California Business Insurance
1. California Department of Insurance
It regulates vehicle insurance policies in California.
2. California Small Business Administration (SBA)
It is an independent agency of the Federal Government mainly concerned with small businesses. It maintains district offices in Los Angeles, Fresno, Santa Ana, San Francisco, Sacramento, and San Diego.
3. National Association of Insurance Commissioners (NAIC)
NAIC acts as a platform that provides facilities like online complaint filing for any insurance fraud and online access to information about insurance carriers.
4. Insurance Information Institute (III)
It is an organization that works to improve public awareness about insurance policies.
5. E-Insure
It is an online forum where you get help on most of your business insurance requirements.
There are many independent insurance agencies like National Insurance Solutions that assists customers by providing online California business insurance information about policies for their business. They offer a wide range of options from multiple well-known insurance carriers to give you the best coverage at the best price.
