There are over twenty-five different types of policies offered for Commercial Insurance in Murrieta CA. How is a business owner supposed to know exactly which policy types will protect the commercial investment? The answer is simple because it is as easy as sitting down with an experienced independent insurance agent. An owner is well-versed in the operational aspects of the business, and the agent is well-versed in what each policy covers.
Basic Policies
Some basic policies for Commercial Insurance in Murrieta CA include one that protects the building and inventory, workers compensation if there are any employees, liability coverage, and a commercial automobile policy if applicable. A small business operated solely by the owner will only need liability and insurance for the space. A construction business will need basic policies and a few more to protect equipment, employees, and contracts. There are many factors that dictate insurance needs for any business.
Additional Policies
Most of these policies are optional but can save the business under certain circumstances. An umbrella policy covers liability costs that are over the limits of the regular policy. This is crucial should the business be named in a lawsuit. Business interruption policies cover regular revenues if the business has to close due to damage or construction that blocks the entrance.
The Risk Component
Insurance premiums are based on risk. That construction company owner will have higher premiums than the small shop owner. It is important to make sure any policy includes enough coverage and a deductible that is affordable for the business. This process can be complicated, especially for new owners. The first incident or accident that takes place on the premises is not the time to learn the details of policies.
Independent agencies, such as Barranca Insurance Services Inc., have the freedom to compare policies from several insurance companies to get the best possible deal. Agencies that are dedicated to one company only offer policies underwritten by that carrier. It limits options drastically. It is wise to make an appointment and discuss possibilities face to face to avoid confusion. Discuss the nature of the business, comfort levels with risk, and preferences regarding limits. You can also connect them on Facebook.
