Business owners have a lot to worry about. Liability for property damage and bodily injuries shouldn’t be on the list. That’s where Business Owners Insurance in Murrieta CA comes in. Read on to find out what’s covered by this type of insurance policy.
Commercial Property Insurance
Commercial property insurance covers any physical property that the business owns, leases, or rents. This extends beyond buildings. It also covers inventory, equipment, furniture, and fixtures.
General Liability Insurance
Liability insurance pays claims if a customer, client, or other visitor is injured or otherwise harmed while visiting the business. This type of coverage is included in every business owner’s insurance plan. It also covers the cost of defense, since businesses often get sued even when they are not in the wrong.
Business Income Insurance
Most Business Owners Insurance in Murrieta CA also covers unexpected loss of income. Insurance coverage kicks in when business operations must be suspended because of a loss covered by the policy, such as fire damage or theft. It gives business owners the money they need to continue paying employee wages, rent, and other essential bills.
There are two popular policy add-ons available to business owners: data breach coverage and professional liability coverage. The first of them covers expenses associated with data breaches such as notifying affected individuals, engaging credit monitoring services, and performing public relations to maintain the company’s image. Business owners can also purchase policy add-ons that cover defense and settlement costs associated with data breaches.
Professional liability coverage, sometimes referred to as errors and omissions coverage, protects business owners against claims that arise from personal errors in judgment. If a customer files a claim against the business for negligence or errors in professional services, this form of coverage will pay for defense and settlements.
The Bottom Line
Business owners’ insurance should be considered a must-have for every company with a physical location. Some forms of business insurance cover online companies as well, so no matter what industry they work in, business owners should consider taking out a policy. Contact Barranca Insurance Services Inc. to speak with a dedicated insurance agent who can help. You can also connect them on Facebook.