May 23, 2013

Posted by in Insurance | Comments Off on Types of Small Business Insurance Available in Los Angeles

Types of Small Business Insurance Available in Los Angeles

Small business owners know how important it is to have adequate insurance coverage. They must protect themselves from liability in the event of accidental injury to a customer or employee. Many small businesses find themselves struggling to stay afloat, so keeping costs down is a primary concern. If you are in need of Small Business Insurance Los Angeles, it is possible to have the proper insurance coverage for your business at an affordable price.

As the owner of the business, you need to do your homework before selecting an insurance company. There are numerous excellent Insurance Companies Los Angeles, but for the best coverage you need one that specializes strictly in business insurance. You want an insurance broker who will work with you to determine what policies are necessary for your particular type of business.

First and foremost any business, whether it is large or small, needs to be covered by a general liability policy. This protects the business from lawsuits resulting from property damage or bodily or personal injury. Keep in mind that a settlement from such a lawsuit could potentially wipe out a company. A business owner policy is very similar to general liability and is recommended for small to medium sized operations. If your business includes any kind of vehicle that is used for hauling or transportation, then it is necessary to be covered by a commercial auto policy. A construction company is required to have a surety bond in order to bid on large projects. When a company is “bonded”, it means there is money put aside to finish a job if the construction company is prevented from completing the work due to unforeseen circumstances.

Workmans compensation is probably the most important coverage to have next to general liability. Any business with employees is required by law to have workmans comp. This protects the business owner from liability if an employee suffers a job related injury or illness. Workmans compensation pays for medical expenses and provides income while the employee recuperates.

After you find the right type of Small Business Insurance Los Angeles, the next step is to discuss dollars and cents. You can ask for a quote over the phone or submit an online application. Good insurance coverage for your small business is available at a cost that won’t break your budget. You can’t afford not to have it since it is a requirement of the law.

 

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