Are you just starting your first business in California? Well then, securing comprehensive business insurance should be high on your ‘to do’ list.

Starting a new business is an exciting time – as well as a bit hectic at first – between hiring staff, bringing in equipment and stock, and then opening your doors for the first time, there is a lot of responsibility on your plate. Although you may be busy but it’s important to put some thought into California business insurance plan and take the time to assess the types of risks your commercial venture may face. All the work, effort and money you are investing could be at wasted if you don’t.

There are four main areas you need to consider:

1. The first is your property insurance which will cover damage to your premises – this includes your building or office, your inventory, outdoor signage and landscaping, and so on.
2. Next is your general liability insurance coverage. As a business, this is especially important because it protects you against injury or damage caused to a third party by you or one of your staff. The possible legal costs of defending a claim are covered by this part of your policy as well.
3. Commercial auto insurance coverage for company vehicles is also key since it will help mediate the financial results faced in the event of damage or theft. If the vehicle you use is also used for personal reasons, you will still need the commercial insurance, as a personal policy will probably not cover a work related incident.
4. Lastly, you need to consider workers’ compensation insurance. Some states require this once your business has four or more employees.

Your particular business may have additional needs – for example, cover for hazardous goods storage, the loss of key personnel, or equipment failure. If you’d like to make sure that your California business insurance covers your commercial risks properly, explore our Virtual Insurance Office further or contact us for a free policy evaluation.