Business Insurance Quotes Commercial Insurance Agency Company Policy Coverage Quote in Chula Vista
What Chula Vista Business Owner's Should Know About Business Insurance
Updated: May 2018
What’s covered by business insurance?
When it comes to your business, there's a lot at stake — from the products and services you offer, to the tools that make it all possible. But when it comes to financial protection for your venture, there's much more to consider. That's why the right business insurance policy can play a vital role in its success.
Here are 3 coverages that help keep your business afloat following a mishap:
Chula Vista Business Insurance - Allstate Insurance Commercial General Liability (CGL) Insurance
If a lawsuit is brought against you because of an accident, bodily injury, or property damage that arises from business operations, at or away from your premises, CGL may step in to help cover the related expenses.
Chula Vista Business Insurance - Allstate Insurance Professional Liability or Error and Omissions (E&O) Insurance
E&O insurance extends a financial safety net for liability claims and legal expenses arising out of alleged wrongful acts and negligence while performing professional duties and/or giving professional advice.
Chula Vista Business Insurance - Allstate Insurance Business Owners Policy (BOP)
A BOP is a package product covering many of the common risks associated with doing business, which may include coverage for property, business interruptions, liability, and more.
From entrepreneurs and consulting professionals, to electricians and landscape gardeners, Allstate Business Insurance of Chula Vista can help assure your enterprise is financially protected on all sides.
Here is a list of 13 Different Types of Insurance a Small Business Owner Should Have:
1. Chula Vista Business Insurance General Liability Insurance:
Businesses in Chula Vista, even if home-based, need to have liability insurance. The policy provides both defense and damages if you, your employees or your products or services cause or are alleged to have caused Bodily Injury or Property Damage to a third party.
If you own your building or have business personal property, including office equipment, computers, inventory or tools you should consider purchasing a policy that will protect you if you have a fire, vandalism, theft, smoke damage etc. You may also want to consider business interruption/loss of earning insurance as part of the policy to protect your earnings if the business is unable to operate.
Business owner’s policy (BOP): A business owner policy packages all required coverage a business owner would need. Often, BOPs will include business interruption insurance, property insurance, vehicle coverage, liability insurance, and crime insurance . Based on your company’s specific needs, you can alter what is included in a BOP. Typically, a business owner will save money by choosing a BOP because the bundle of services often costs less than the total cost of all the individual coverage’s.
Commercial Auto Insurance: Commercial auto insurance protects a company’s vehicles. You can protect vehicles that carry employees, products or equipment. With commercial auto insurance you can insure your work cars, SUVs, vans and trucks from damage and collisions. If you do not have company vehicles, but employees drive their own cars on company business you should have non-owned auto liability to protect the company in case the employee does not have insurance or has inadequate coverage. Many times the non-owned can be added to the BOP policy.
Worker’s Compensation: Worker’s compensation provides insurance to employees who are injured on the job. This type of insurance provides wage replacement and medical benefits to those who are injured while working. In exchange for these benefits, the employee gives up his rights to sue his employer for the incident. As a business owner, it is very important to have worker’s compensation insurance because it protects yourself and your company from legal complications. State laws will vary, but all require you to have workers compensation if you have W2 employees. Penalties for non-compliance can be very stiff.
Professional Liability Insurance: this type of insurance is also known as Errors and Omissions Insurance. The policy provides defense and damages for failure to or improperly rendering professional services. Your general liability policy does not provide this protection, so it is important to understand the difference. Professional liability insurance is applicable for any professional firm including lawyers, accountants, consultants, notaries, real estate agents, insurance agents, hair salons and technology providers to name a few..
Directors and Officers Insurance: this type of insurance protects the directors and officers of a company against their actions that affect the profitability or operations of the company. If a director or officer of your company, as a direct result of their actions on the job, finds him or herself in a legal situation, this type of insurance can cover costs or damages lost as a result of a lawsuit.
Data Breach: If the business stores sensitive or non-public information about employees or clients on their computers, servers or in paper files they are responsible for protecting that information. If a breach occurs either electronically or from a paper file a Data Breach policy will provide protection against the loss.
Homeowner’s Insurance: Homeowner’s insurance is one of the most important kinds of insurance you need. This type of insurance can protect against damage to the home and against damage to items inside the home. Additionally, this type of insurance may protect you from accidents that happen at home or may have occurred due to actions of your own.
Renter’s Insurance: Renter’s insurance is a sub-set of homeowner’s insurance which applies only to those whose who rent their home. The coverage is protects against damage to the physical property, contents of the property, and personal injury within the home.
Life Insurance: Life insurance protects an individual against death. If you have life insurance, the insurer pays a certain amount of money to a beneficiary upon your death. You pay a premium in exchange for the payment of benefits to the beneficiary. This type of insurance is very important because it allows for peace of mind. Having life insurance allows you to know that your loved ones will not be burdened financially upon your death.
Personal Automobile Insurance: Another very important type of insurance is auto insurance.Automobile insurance covers all road vehicles (trucks, cars, motorcycles, etc.). Auto insurance has a dual function, protecting against both physical damage and bodily injury resulting from a crash, and also any liability that might rise from the collision.
Personal Umbrella Insurance: You may want some additional coverage, on top of insurance policies you already have. This is where personal umbrella insurance comes into play. This type of insurance is an extension to an already existing insurance policy and covers beyond the regular policy. This insurance can cover different kinds of claims, including homeowner’s or auto insurance. Generally, it is sold in increments of $1 million and is used only when liability on other policies has been exhausted.
Get reliable coverage for your business - Allstate Chula Vista Insurance Agent
Allstate Insurance Agency is owned and operated by Raya Insurance Agency USMC in Chula Vista for over 20 years! To offer you personalized insurance coverage for your business at affordable rates. Just complete their quick, free online form and they'll provide you with multiple quotes from reputable insurance companies. Once you've made your decision, you can purchase coverage on the spot without the hassle of paperwork, and your policy documents will be emailed to you directly.
You can also choose a payment schedule that best aligns with your business needs — whether annual, quarterly, or monthly instalments. Plus, if you have any questions, their top-notch insurance agents are only a phone call away at 1619-691-8111.
Depending on your particular business venture, other types of coverage may be necessary — and a Chula Vista Insurance Agent can help you find them.
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