Starting a business involves risk – risk that is best managed through insurance. As a business owner, there are a number of different types of policies you may be interested in. Two of the most common types of insurance for business owners in CA are “general liability” insurance and “business owner’s policy” insurance.
Though every business is different, there are a few types of insurance that nearly every business owner needs. These are:
What is a business owner’s policy? A business owner’s policy is a type of all-encompassing insurance policy that contains property insurance, liability insurance, and business interruption insurance in a single package. Thus, it’s up to you whether your business only needs general liability protection or if your business needs a complete business insurance package.
A general liability policy is all a small business or solo entrepreneur may need to get started. If your business does not have a significant amount of equipment or property, then a general liability will cover a significant portion of your risk. General liability insurance alone is more affordable than a bundled policy and it may be easier to manage, as there will only be a single company to deal with and a single bill to pay. This type of insurance may be what a company starts out with before needing to expand into other insurance options.
Most companies are going to need, at minimum, both general liability and property insurance. A business owner’s policy is a comprehensive bundle that gives you all the insurance policies most businesses are likely to need, saving you money by combining them. However, because a business owner’s policy may be different from company to company, you should still carefully review each business owners insurance quote CA.
With a single business owner’s policy, you only have one point-of-contact for many of your insurance needs. BOPs are tailored to different companies and industries their risk, to ensure that businesses have exactly the amount of insurance that they need.
Depending on the structure of your organization, either a general liability policy or a business owner’s policy could be best for you. If you want to get a business owner insurance quote today, contact Zuma Insurance.